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Registered Number: 12461593


 

 

 


Abridged Accounts

for the year ended 29 February 2024

for

SCION PROPERTY VENTURES LIMITED

Report to the directors on the preparation of the unaudited statutory accounts of SCION PROPERTY VENTURES LIMITED for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SCION PROPERTY VENTURES LIMITED for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of SCION PROPERTY VENTURES LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SCION PROPERTY VENTURES LIMITED and state those matters that we have agreed to state to the Board of Directors of SCION PROPERTY VENTURES LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SCION PROPERTY VENTURES LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that SCION PROPERTY VENTURES LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SCION PROPERTY VENTURES LIMITED. You consider that SCION PROPERTY VENTURES LIMITED is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of SCION PROPERTY VENTURES LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
29 February 2024



....................................................

Zehrgut Limited



29 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 187,500    187,500 
187,500    187,500 
Current assets      
Cash at bank and in hand 8,463    7,558 
Creditors: amount falling due within one year (1,200)   (900)
Net current assets 7,263    6,658 
 
Total assets less current liabilities 194,763    194,158 
Creditors: amount falling due after more than one year (267,618)   (270,772)
Net assets (72,855)   (76,614)
 

Capital and reserves
     
Profit and loss account (72,855)   (76,614)
Shareholders' funds (72,855)   (76,614)
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 29 November 2024 and were signed on its behalf by:


-------------------------------
David Ayodeji AFOLAYAN
Director
2
General Information
SCION PROPERTY VENTURES LIMITED is a private company, limited by shares, registered in , registration number 12461593, registration address 80 , Rochester Drive, Bexley, England, DA5 1QD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 March 2023 187,500    187,500 
Additions  
Disposals  
At 29 February 2024 187,500    187,500 
Depreciation
At 01 March 2023  
Charge for year  
On disposals  
At 29 February 2024  
Net book values
Closing balance as at 29 February 2024 187,500    187,500 
Opening balance as at 01 March 2023 187,500    187,500 

The net book value of Land and Buildings includes £ 187,500 (2023 £187,500) in respect of assets leased under finance leases or hire purchase contracts.

3