Company registration number:
08394460
Scenic Route Limited
Unaudited filleted financial statements
31 July 2024
Scenic Route Limited
Contents
Statement of financial position
Notes to the financial statements
Scenic Route Limited
Statement of financial position
31 July 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Intangible assets |
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4 |
3,046 |
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3,046 |
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Tangible assets |
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5 |
1,949 |
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3,539 |
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_______ |
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_______ |
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4,995 |
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6,585 |
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Current assets |
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Debtors |
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6 |
504 |
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65 |
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Cash at bank and in hand |
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7,786 |
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11,926 |
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_______ |
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_______ |
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8,290 |
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11,991 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
303,342) |
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(
248,127) |
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_______ |
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_______ |
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Net current liabilities |
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(
295,052) |
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(
236,136) |
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_______ |
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_______ |
Total assets less current liabilities |
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(
290,057) |
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(
229,551) |
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Provisions for liabilities |
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(
370) |
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(
672) |
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_______ |
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_______ |
Net liabilities |
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(
290,427) |
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(
230,223) |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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1 |
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1 |
Profit and loss account |
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(
290,428) |
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(
230,224) |
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_______ |
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_______ |
Shareholders deficit |
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(
290,427) |
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(
230,223) |
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_______ |
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_______ |
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
29 April 2025
, and are signed on behalf of the board by:
Mr S Underhill
Director
Company registration number:
08394460
Scenic Route Limited
Notes to the financial statements
Year ended 31 July 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Office FF10 Brooklands House, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At 31 July 2024 the company had excess liabilities over assets totalling £290,427. The company is dependent upon the continued financial support of the director and on the basis that this support is forthcoming, the director considers it appropriate for the financial statements to be prepared on the going concern basis.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery |
- |
20 % |
straight line |
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Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
7.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
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2,750 |
2,063 |
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Other creditors |
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300,592 |
246,064 |
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_______ |
_______ |
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303,342 |
248,127 |
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_______ |
_______ |
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8.
Directors advances, credits and guarantees
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During the year the director entered into the following advances and credits with the company: |
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Year ended 31 July 2024 |
Balance brought forward |
Advances /(credits) to the director |
Balance o/standing |
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£ |
£ |
£ |
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Mr S Underhill |
(
232,967) |
(
54,528) |
(
287,495) |
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_______ |
_______ |
_______ |
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Year ended 31 July 2023 |
Balance brought forward |
Advances /(credits) to the director |
Balance o/standing |
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£ |
£ |
£ |
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Mr S Underhill |
(
199,677) |
(
33,290) |
(
232,967) |
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_______ |
_______ |
_______ |
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9.
Controlling party
The company is controlled by S Underhill the director.