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Registration number: 08809674

SCRD Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

SCRD Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

SCRD Investments Limited

Company Information

Directors

Mrs Rebecca Amy Perera-Grant

Mr Craig Grant

Mrs Susan Ann Grant

Mrs Alysia Beth Perera

Registered office

19 Elmgate Drive
Bournemouth
Dorset
BH7 7EG

Bankers

Co-Operative Bank plc
P.O. Box 250
Delf House
Southway
Skelmerdale
WN8 6WT

Accountants

A Ferguson Associates Ltd
Accountants and Business AdvisorsAlum House
5 Alum Chine Road
Bournemouth
Dorset
BH4 8DT

 

SCRD Investments Limited

(Registration number: 08809674)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

2,080,096

2,080,096

Current assets

 

Debtors

5

1,079

1,184

Cash at bank and in hand

 

35,323

54,611

 

36,402

55,795

Creditors: Amounts falling due within one year

6

(1,926,960)

(1,961,063)

Net current liabilities

 

(1,890,558)

(1,905,268)

Total assets less current liabilities

 

189,538

174,828

Provisions for liabilities

(12,509)

(12,509)

Net assets

 

177,029

162,319

Capital and reserves

 

Called up share capital

7

10,000

10,000

Other reserves

72,283

72,283

Retained earnings

94,746

80,036

Shareholders' funds

 

177,029

162,319

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 March 2025 and signed on its behalf by:
 

 

SCRD Investments Limited

(Registration number: 08809674)
Balance Sheet as at 31 December 2024

.........................................
Mr Craig Grant
Director

.........................................
Mrs Susan Ann Grant
Director

 
     
 

SCRD Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
19 Elmgate Drive
Bournemouth
Dorset
BH7 7EG

These financial statements were authorised for issue by the Board on 5 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rents from residential investment property in the ordinary course of the Company’s activities.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

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

 

SCRD Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2

Accounting policies (continued)

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

SCRD Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 January

2,080,096

At 31 December

2,080,096

No adjustment was deemed necessary to the fair value of the investment properties in the year compared to the previous year.

5

Debtors

2024
£

2023
£

Prepayments

1,079

1,184

1,079

1,184

 

SCRD Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,920,728

1,950,728

Taxation and social security

 

3,451

6,736

Accruals and deferred income

 

2,063

2,612

Other creditors

 

718

987

 

1,926,960

1,961,063

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

2,500

2,500

2,500

2,500

Ordinary B of £1 each

2,500

2,500

2,500

2,500

Ordinary C of £1 each

2,500

2,500

2,500

2,500

Ordinary D of £1 each

2,500

2,500

2,500

2,500

10,000

10,000

10,000

10,000

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

1,920,728

1,950,728