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REGISTERED NUMBER: 08628299 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Scorpion Properties Ltd

Scorpion Properties Ltd (Registered number: 08628299)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Scorpion Properties Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R K Steer





REGISTERED OFFICE: 13 March Place
Gatehouse Way
Aylesbury
Buckinghamshire
HP19 8UG





REGISTERED NUMBER: 08628299 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chartered Accountants
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Scorpion Properties Ltd (Registered number: 08628299)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 54,058
Investment property 5 6,646,437 6,646,437
6,646,437 6,700,495

CURRENT ASSETS
Debtors 6 80,943 157,976
Cash at bank 187,995 92,267
268,938 250,243
CREDITORS
Amounts falling due within one year 7 (608,354 ) (498,693 )
NET CURRENT LIABILITIES (339,416 ) (248,450 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,307,021 6,452,045

CREDITORS
Amounts falling due after more than one year 8 (3,337,369 ) (3,550,414 )

PROVISIONS FOR LIABILITIES (479,372 ) (492,836 )
NET ASSETS 2,490,280 2,408,795

CAPITAL AND RESERVES
Called up share capital 387,133 387,133
Fair value reserve 10 1,788,422 1,788,422
Retained earnings 314,725 233,240
2,490,280 2,408,795

Scorpion Properties Ltd (Registered number: 08628299)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 20 December 2024 and were signed by:





R K Steer - Director


Scorpion Properties Ltd (Registered number: 08628299)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Scorpion Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Scorpion Properties Ltd (Registered number: 08628299)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 81,335
Additions 19,205
Disposals (100,540 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 27,277
Charge for year 16,289
Eliminated on disposal (43,566 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 54,058

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 81,335
Additions 19,205
At 31 March 2024 100,540
DEPRECIATION
At 1 April 2023 27,277
Charge for year 16,289
Eliminated on disposal (43,566 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 100,540
At 31 March 2023 54,058

Scorpion Properties Ltd (Registered number: 08628299)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 6,646,437
NET BOOK VALUE
At 31 March 2024 6,646,437
At 31 March 2023 6,646,437

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 2,580,397
Cost 4,066,040
6,646,437

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 35,849 107,224
Other debtors 45,094 50,752
80,943 157,976

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 173,261 161,466
Hire purchase contracts - 18,313
Trade creditors 73 207
Taxation and social security 103,451 191,884
Other creditors 331,569 126,823
608,354 498,693

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 3,337,369 3,510,629
Hire purchase contracts - 39,785
3,337,369 3,550,414

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 3,510,630 3,672,095

Bank loans are secured by a charge over the assets of the company.

Scorpion Properties Ltd (Registered number: 08628299)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 1,788,422

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R K Steer.