REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
SKOT PROPERTIES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
SKOT PROPERTIES LIMITED |
SKOT PROPERTIES LIMITED (REGISTERED NUMBER: 06992903) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SKOT PROPERTIES LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SKOT PROPERTIES LIMITED (REGISTERED NUMBER: 06992903) |
BALANCE SHEET |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
SKOT PROPERTIES LIMITED (REGISTERED NUMBER: 06992903) |
BALANCE SHEET - continued |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings |
The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
SKOT PROPERTIES LIMITED (REGISTERED NUMBER: 06992903) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
SKOT Properties Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
All monetary values stated within these financial statements are rounded to the nearest £. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Investment properties - Not provided |
Fixtures & fittings - 25% on reducing balance |
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. |
SKOT PROPERTIES LIMITED (REGISTERED NUMBER: 06992903) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 January 2024 |
and 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2024 |
and 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
SKOT PROPERTIES LIMITED (REGISTERED NUMBER: 06992903) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 31 December 2024 is represented by: |
£ |
Valuation in 2023 | 5,950 |
Cost | 784,050 |
790,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
31.12.24 | 31.12.23 |
£ | £ |
Cost | 784,050 | 784,050 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Bank loans and overdrafts |
Tax |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Other loans more 5yrs non-inst | 394,076 | 400,221 |
SKOT PROPERTIES LIMITED (REGISTERED NUMBER: 06992903) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31.12.24 | 31.12.23 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.24 | 31.12.23 |
£ | £ |
Bank loans |
Each of the loans relate to an individual investment property and each loan is secured by means of a legal mortgage and first fixed charge on the investment property to which the loan relates. |
Each loan is repayable by monthly interest only instalments and the interest charge equates approximately to 0.75% over the Bank of England base rate. |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2024 |
and 31 December 2024 |
11. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the directors acting in concert by virtue of their ownership of 100% of the issued share capital of the company. |