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REGISTERED NUMBER: SC449465 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

SKA PROPERTY DEVELOPMENT LIMITED

SKA PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: SC449465)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SKA PROPERTY DEVELOPMENT LIMITED

Company Information
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mrs K Arthur





REGISTERED OFFICE: 17 Viewfield Crescent
Aberdeen
AB15 7XQ





REGISTERED NUMBER: SC449465 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

SKA PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: SC449465)

Balance Sheet
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 - 500
Investment property 5 345,000 345,000
345,000 345,500

CURRENT ASSETS
Cash at bank - 1,307

CREDITORS
Amounts falling due within one year 6 93,466 95,256
NET CURRENT LIABILITIES (93,466 ) (93,949 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

251,534

251,551

CREDITORS
Amounts falling due after more than one
year

7

296,537

293,120
NET LIABILITIES (45,003 ) (41,569 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Fair value reserve 10 19,268 19,268
Retained earnings 10 (64,272 ) (60,838 )
SHAREHOLDERS' FUNDS (45,003 ) (41,569 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

SKA PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: SC449465)

Balance Sheet - continued
31 MAY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 April 2025 and were signed by:





Mrs K Arthur - Director


SKA PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: SC449465)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

SKA Property Development Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Going concern
Although the company is technically insolvent, the company is supported by its director Karen Arthur.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

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.

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 NIL (2023 - NIL).

SKA PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: SC449465)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2023
and 31 May 2024 2,355
DEPRECIATION
At 1 June 2023 1,855
Charge for year 500
At 31 May 2024 2,355
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 500

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 345,000
NET BOOK VALUE
At 31 May 2024 345,000
At 31 May 2023 345,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 1,364 5,000
Trade creditors 1 -
Directors' current accounts 89,514 87,723
Accrued expenses 2,587 2,533
93,466 95,256

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans > 1 year 296,537 293,120

8. SECURED DEBTS

There are several standard securities over company assets as well as floating charges over its assets and undertakings.

SKA PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: SC449465)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2023 (60,838 ) 19,268 (41,570 )
Deficit for the year (3,434 ) (3,434 )
At 31 May 2024 (64,272 ) 19,268 (45,004 )