Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312false2023-08-01falseproperty developers2truetrue 10600517 2023-08-01 2024-07-31 10600517 2022-08-01 2023-07-31 10600517 2024-07-31 10600517 2023-07-31 10600517 2022-08-01 10600517 c:Director1 2023-08-01 2024-07-31 10600517 d:CurrentFinancialInstruments 2024-07-31 10600517 d:CurrentFinancialInstruments 2023-07-31 10600517 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 10600517 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10600517 d:ShareCapital 2023-08-01 2024-07-31 10600517 d:ShareCapital 2024-07-31 10600517 d:ShareCapital 2022-08-01 2023-07-31 10600517 d:ShareCapital 2023-07-31 10600517 d:ShareCapital 2022-08-01 10600517 d:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 10600517 d:RetainedEarningsAccumulatedLosses 2024-07-31 10600517 d:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 10600517 d:RetainedEarningsAccumulatedLosses 2023-07-31 10600517 d:RetainedEarningsAccumulatedLosses 2022-08-01 10600517 c:FRS102 2023-08-01 2024-07-31 10600517 c:Audited 2023-08-01 2024-07-31 10600517 c:FullAccounts 2023-08-01 2024-07-31 10600517 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10600517 c:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10600517 d:OtherDeferredTax 2024-07-31 10600517 d:OtherDeferredTax 2023-07-31 10600517 2 2023-08-01 2024-07-31 10600517 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure
Registered number: 10600517









SCOTSDALE FORDHAM LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
SCOTSDALE FORDHAM LIMITED
REGISTERED NUMBER: 10600517

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
671,490
623,828

Current assets
  

Stocks
 5 
308,175
308,175

Debtors: amounts falling due within one year
 6 
886,393
1,318,466

Cash at bank and in hand
  
33,827
410,135

  
1,228,395
2,036,776

Creditors: amounts falling due within one year
 7 
(15,000)
(13,840)

Net current assets
  
 
 
1,213,395
 
 
2,022,936

Provisions for liabilities
  

Deferred tax
 9 
(33,409)
(33,409)

Net assets
  
1,851,476
2,613,355


Capital and reserves
  

Called up share capital 
  
500,001
500,001

Profit and loss account
  
1,351,475
2,113,354

  
1,851,476
2,613,355


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the Board and were signed on its behalf on 23 December 2024.



................................................
C A E Owen
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 1

 
SCOTSDALE FORDHAM LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2022
500,001
3,145,793
3,645,794


Comprehensive income for the year

Profit for the year
-
717,561
717,561
Total comprehensive income for the year
-
717,561
717,561


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,750,000)
(1,750,000)



At 1 August 2023
500,001
2,113,354
2,613,355


Comprehensive income for the year

Profit for the year
-
738,121
738,121
Total comprehensive income for the year
-
738,121
738,121


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,500,000)
(1,500,000)


At 31 July 2024
500,001
1,351,475
1,851,476


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SCOTSDALE FORDHAM LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


GENERAL INFORMATION

Scotsdale Fordham Limited is a private company limited by shares, incorporated in England and Wales, United Kingdom. The registered office is 120 Cambridge Road, Great Shelford, Cambridge, CB22 5JT.
The nature of the Company's operations and principal activity is that of property developers. 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in pounds sterling which is the functional currency of the Company and are rounded to the nearest pound.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

INVESTMENT IN JOINT VENTURES

An entity is treated as a joint venture where the Company is a party to a contractual agreement with one or more parties to undertake an economic activity that is subject to joint control.
The Company accounts for its investments in joint ventures at cost, recognising its share of the profit or loss as it accrues by addition to or deduction from the carrying value of the investment. Receipts from the joint venture LLP, whether on account of allocated profit or capital, are accounted for as partial disposals of the investment.

  
2.3

DEBTORS

Short term debtors are measured at transaction price, less any impairment.

  
2.4

STOCKS

Stocks are stated at the lower of cost and net realisable value.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

GOING CONCERN

The future results of the Company will depend on the housing market over the coming years and the associated prices that can be achieved from the development of the land that is being completed by the joint venture, Scotsdale Hill LLP. With a proven track record, the Directors consider it appropriate to prepare the financial statements on the going concern basis.

Page 3

 
SCOTSDALE FORDHAM LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

  
2.9

CREDITORS

Short term creditors are measured at the transaction price.

 
2.10

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
SCOTSDALE FORDHAM LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.12

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


EMPLOYEES




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
SCOTSDALE FORDHAM LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


FIXED ASSET INVESTMENTS





Investment in joint ventures

£



COST


At 1 August 2023
623,828


Disposals
(750,000)


Share of profit/(loss)
797,662



At 31 July 2024

671,490






Net book value



At 31 July 2024
671,490



At 31 July 2023
623,828

JOINT VENTURES
The Company holds 50% of the members' capital of Scotsdale Hill LLP, an LLP incorporated in England and Wales that undertakes property development. Scotsdale Hill LLP is not deemed to be under the control of the Company and is therefore accounted for as a joint venture.

Page 6

 
SCOTSDALE FORDHAM LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


STOCKS

2024
2023
£
£

Finished goods and goods for resale
308,175
308,175



6.


DEBTORS

2024
2023
£
£


Amounts owed by group undertakings
525,000
-

Amounts owed by joint ventures and associated undertakings
-
1,079,585

Other debtors
-
7

Tax recoverable
361,393
238,874

886,393
1,318,466



7.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
40

Accruals and deferred income
15,000
13,800

15,000
13,840



8.


SHARE CAPITAL

2024
2023
£
£

Authorised, allotted, called up and fully paid


500,000 Redeemable preference shares of £1 each
500,000
500,000

1 Ordinary share of £1
1
1

500,001
500,001

The redeemable preference shares have full voting rights and are redeemable at par by the Company by giving not less than 5 business days previous notice in writing to the holders. No holders of the redeemable preference shares have the right to require the Company to redeem the whole or any part of the redeemable preference shares. No premium is payable upon redemption.
The ordinary share carries full voting, dividend and capital rights.


9.


DEFERRED TAXATION

Page 7

 
SCOTSDALE FORDHAM LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
 
9.DEFERRED TAXATION (CONTINUED)




2024


£






At beginning of year
(33,409)



At end of year
(33,409)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Appropriation of land to trading stock
(33,409)
(33,409)


10.


RELATED PARTY TRANSACTIONS

During the year the Company received a profit allocation of £797,662 (2023 - £792,721) from Scotsdale Hill LLP, an LLP in which the Company owns 50%. This has been added to the cost of the investment.
At the year end, the amount due from Scotsdale Hill LLP and included within Debtors was £NIL (2023 - £1,079,585).
Interest is charged at 5% on the amounts due from the LLP that is held within debtors at the year end. The interest received during the year was £44,237 (2023 - £62,308).
The Company has taken advantage of the exemption from the requirement to disclose transactions with wholly owned Group Companies.


11.


CONTROLLING PARTY

The name of the parent entity of the smallest group for which consolidated acounts are drawn up is Scotsdale Nursery and Garden Centre Limited. The registered office address of Scotsdale Nursery and Garden Centre Limited is 120 Cambridge Road, Great Shelford, Cambridge, CB22 5JT.


12.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 31 December 2024 by Natalie Peacock FCA (Senior Statutory Auditor) on behalf of Lakin Rose Limited.


Page 8