Company registration number 10250321 (England and Wales)
SCIMITAR HOUSE (HOLDINGS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SCIMITAR HOUSE (HOLDINGS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SCIMITAR HOUSE (HOLDINGS) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
3,515,796
3,515,796
Investments
4
1,460,349
1,460,349
4,976,145
4,976,145
Current assets
Stocks
11,057,739
11,057,739
Debtors
5
3,663,790
3,332,922
Investments
6
889,994
855,038
Cash at bank and in hand
203,216
201,899
15,814,739
15,447,598
Creditors: amounts falling due within one year
7
(4,999,188)
(4,957,673)
Net current assets
10,815,551
10,489,925
Total assets less current liabilities
15,791,696
15,466,070
Creditors: amounts falling due after more than one year
8
(7,850,000)
(7,850,000)
Provisions for liabilities
9
(310,646)
(306,780)
Net assets
7,631,050
7,309,290
Capital and reserves
Called up share capital
10
590
590
Profit and loss reserves
7,630,460
7,308,700
Total equity
7,631,050
7,309,290

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

SCIMITAR HOUSE (HOLDINGS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 March 2025 and are signed on its behalf by:
Michael Docker
Director
Company registration number 10250321 (England and Wales)
SCIMITAR HOUSE (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Scimitar House (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.3
Fixed asset investments

Interests in subsidiaries are measured at cost less any accumulated impairment losses.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stock consists of unsold properties held for development as at the balance sheet date.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction. Financial assets classified as receivable within one year are not amortised.

SCIMITAR HOUSE (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, and loans from fellow group companies are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
3,515,796

In the opinion of the directors, the fair value of the investment property is not materially different to the carrying value in the accounts as at the balance sheet date.

SCIMITAR HOUSE (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Fixed asset investments
2024
2023
£
£
Investments
1,460,349
1,460,349
Movements in fixed asset investments
Shares in group undertakings and participating interests
£
Cost or valuation
At 1 April 2023 & 31 March 2024
1,460,349
Carrying amount
At 31 March 2024
1,460,349
At 31 March 2023
1,460,349
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
85,244
76,747
Other debtors
3,578,546
3,256,175
3,663,790
3,332,922
6
Current asset investments
2024
2023
£
£
Listed investments
889,994
855,038

The current asset investments are measured at fair value.

SCIMITAR HOUSE (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
21,249
-
0
Amounts owed to group undertakings
4,632,498
4,625,935
Corporation tax
55,990
121,203
Other creditors
289,451
210,535
4,999,188
4,957,673
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,850,000
7,850,000

The bank loan is secured.

9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Fair value adjustments
310,646
306,780
2024
Movements in the year:
£
Liability at 1 April 2023
306,780
Charge to profit or loss
3,866
Liability at 31 March 2024
310,646
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
590
590
590
590
SCIMITAR HOUSE (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
11
Related party transactions

Included within debtors is £2,029,031 (2023: £1,738,641) owed by a limited liability partnership in which Michael and Michele Docker are members.

 

Included within debtors is £1,024,832 (2023: £1,002,349) owed by companies in which Michael Docker is a director.

 

Included within creditors is £91,416 (2023: £7,200) due to companies in which Michael Docker is a director.

 

Included within creditors is £293 (2023: £293) due to a limited liability partnership in which Michael and Michele Docker are members.

 

Included within creditors is a balance of £91,269 (2023: £92,061) due to the directors of the company.

 

During the period £44,410 (2023: £38,117) was charged by a company in which Mr and Mrs Docker are directors, in respect of letting and management fees in the normal course of their trade.

 

During the period £80,000 (2023: £nil) was charged by a company in which Mr Docker is a director, in respect of management services.

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