REGISTERED NUMBER: |
SVA Property Auctions Limited |
Unaudited Financial Statements |
for the Period 1 December 2022 to 31 May 2024 |
REGISTERED NUMBER: |
SVA Property Auctions Limited |
Unaudited Financial Statements |
for the Period 1 December 2022 to 31 May 2024 |
SVA Property Auctions Limited (Registered number: SC186922) |
Contents of the Financial Statements |
for the Period 1 December 2022 to 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SVA Property Auctions Limited |
Company Information |
for the Period 1 December 2022 to 31 May 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
BANKERS: |
Edinburgh West End Office |
142-144 Princes Street |
Edinburgh |
EH2 4EQ |
SVA Property Auctions Limited (Registered number: SC186922) |
Balance Sheet |
31 May 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
SVA Property Auctions Limited (Registered number: SC186922) |
Balance Sheet - continued |
31 May 2024 |
The financial statements were approved by the director and authorised for issue on |
SVA Property Auctions Limited (Registered number: SC186922) |
Notes to the Financial Statements |
for the Period 1 December 2022 to 31 May 2024 |
1. | STATUTORY INFORMATION |
SVA Property Auctions Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and revenue recognition |
Turnover represents auction commission on sales of properties, excluding value added tax. Turnover is recognised on conclusion of the sale of the property after auction. |
Tangible fixed assets |
Plant and machinery etc | - |
Financial instruments |
Financial instruments comprise financial assets and financial liabilities which are recognised when the company become a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS 102 and are accounted for at amortised cost using the effective interest method.The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial. |
Financial assets at cost compromise bank trade debtors and other debtors. Financial liabilities compromise accruals, trade creditors and other creditors. |
Taxation |
Taxation for the period 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. |
SVA Property Auctions Limited (Registered number: SC186922) |
Notes to the Financial Statements - continued |
for the Period 1 December 2022 to 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Going concern |
The company ceased trading in February 2023. The going concern basis has therefore not been applied and these accounts are prepared on the break-up basis. No modifications have been required in recognition of any asset or liability under the break-up basis as compared to the going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2022 |
Disposals | ( |
) |
At 31 May 2024 |
DEPRECIATION |
At 1 December 2022 |
Eliminated on disposal | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 30 November 2022 |
SVA Property Auctions Limited (Registered number: SC186922) |
Notes to the Financial Statements - continued |
for the Period 1 December 2022 to 31 May 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |