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Registered number: 13146537
Scaife Group Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Lockwood & Co
Accountants & Business Advisors
7 Bell Yard
London
Greater London
WC2A 2JR
Contents
Page
Company Information 1
Accountants' Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—9
Page 1
Company Information
Director Mr Jarrad Scaife
Company Number 13146537
Registered Office 16 Beeches Drive
Sheffield
S2 3BF
Accountants Lockwood & Co
Accountants & Business Advisors
7 Bell Yard
London
Greater London
WC2A 2JR
Page 1
Page 2
Accountants' Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company completely from the accounting records and information and explanations you have given to us.
This report is made to the director. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. 
You have acknowledged on the balance sheet as at year ended 31 January 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements.
Our report may not be relied upon by any person for any other purpose whatsoever.
Lockwood & Co Accountancy neither owes nor accepts any duty to any other party and shall not be liable for any loss, damage or expenses of whatsoever nature which is caused by their reliance on these accounts.
Signed
31st January 2025
Lockwood & Co
Accountants & Business Advisors
7 Bell Yard
London
Greater London
WC2A 2JR
Page 2
Page 3
Balance Sheet
Registered number: 13146537
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 54,418 52,702
54,418 52,702
CURRENT ASSETS
Stocks 5 2,088 28,682
Debtors 6 25,712 70,255
Cash at bank and in hand 122,885 45,772
150,685 144,709
Creditors: Amounts Falling Due Within One Year 7 (71,336 ) (93,039 )
NET CURRENT ASSETS (LIABILITIES) 79,349 51,670
TOTAL ASSETS LESS CURRENT LIABILITIES 133,767 104,372
Creditors: Amounts Falling Due After More Than One Year 8 - (4,174 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (6,000 ) (2,398 )
NET ASSETS 127,767 97,800
CAPITAL AND RESERVES
Called up share capital 13 100 100
Profit and Loss Account 127,667 97,700
SHAREHOLDERS' FUNDS 127,767 97,800
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jarrad Scaife
Director
31st January 2025
The notes on pages 5 to 9 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Scaife Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13146537 . The registered office is 16 Beeches Drive, Sheffield, S2 3BF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Computer Equipment 33% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 3)
4 3
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 73,457 2,506 75,963
Additions 52,059 3,473 55,532
Disposals (52,828 ) - (52,828 )
As at 31 January 2024 72,688 5,979 78,667
...CONTINUED
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Depreciation
As at 1 February 2023 22,113 1,148 23,261
Provided during the period 16,131 1,814 17,945
Disposals (16,957 ) - (16,957 )
As at 31 January 2024 21,287 2,962 24,249
Net Book Value
As at 31 January 2024 51,401 3,017 54,418
As at 1 February 2023 51,344 1,358 52,702
5. Stocks
2024 2023
£ £
Materials 2,088 1,000
Work in progress - 27,682
2,088 28,682
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,682 40,218
Other debtors 9,902 30,037
14,584 70,255
Due after more than one year
Amounts owed by participating interests 11,128 -
25,712 70,255
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 5,097
Trade creditors 8,766 11,518
Amounts owed to participating interests - 9,474
Other creditors 19,819 60,602
Taxation and social security 42,751 6,348
71,336 93,039
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 4,174
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 9,271
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 5,097
Later than one year and not later than five years - 4,174
- 9,271
- 9,271
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 6,000 2,398
12. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 February 2023 2,398 2,398
Deferred taxation 3,602 3,602
Balance at 31 January 2024 6,000 6,000
13. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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14. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Jarrad Scaife - 8,321 - - 8,321
The above loan is unsecured, interest free and repayable on demand.
15. Ultimate Controlling Party
The company's ultimate controlling party is Jarrad Scaife by virtue of his ownership of 100% of the issued share capital in the company.
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