Registration number:
SKF Property Ltd
for the Period from 14 November 2023 to 30 November 2024
SKF Property Ltd
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
SKF Property Ltd
(Registration number: SC789321)
Statement of Financial Position as at 30 November 2024
Note |
2024 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
1 |
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Retained earnings |
(6,520) |
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Shareholders' deficit |
(6,519) |
For the financial period ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
The Director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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SKF Property Ltd
Notes to the Unaudited Financial Statements for the Period from 14 November 2023 to 30 November 2024
General information |
The Company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
Scotland
These financial statements were authorised for issue by the
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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
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.
Investment property
SKF Property Ltd
Notes to the Unaudited Financial Statements for the Period from 14 November 2023 to 30 November 2024
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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.
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 income statement 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.
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the Company (including the Director) during the period, was
Investment properties |
2024 |
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Additions |
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At 30 November |
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SKF Property Ltd
Notes to the Unaudited Financial Statements for the Period from 14 November 2023 to 30 November 2024
There has been no valuation of investment property by an independent valuer.
Debtors |
Current |
2024 |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2024 |
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Due after one year |
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Loans and borrowings |
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The bank borrowings are secured by a standard security over the property.
Loans and borrowings |
Non-current loans and borrowings
2024 |
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Bank borrowings |
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