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Registration number: 10430768

Skeffington Properties Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Skeffington Properties Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Skeffington Properties Limited

(Registration number: 10430768)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

30,457

41,940

Investment property

5

4,127,497

3,538,212

Investments

6

332

282

 

4,158,286

3,580,434

Current assets

 

Debtors

7

1,109,999

924,740

Cash at bank and in hand

 

51,971

66,980

 

1,161,970

991,720

Creditors: Amounts falling due within one year

8

(2,282,077)

(2,040,819)

Net current liabilities

 

(1,120,107)

(1,049,099)

Total assets less current liabilities

 

3,038,179

2,531,335

Creditors: Amounts falling due after more than one year

8

(2,833,213)

(2,225,791)

Net assets

 

204,966

305,544

Capital and reserves

 

Called up share capital

100

100

Retained earnings

204,866

305,444

Shareholders' funds

 

204,966

305,544

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Skeffington Properties Limited

(Registration number: 10430768)
Balance Sheet as at 31 May 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 May 2025
 

.........................................
Mr D Skeffington
Director

 

Skeffington Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

2

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

Government grants

Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Any amounts outstanding at the year end will be included within other debtors.

 

Skeffington Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and computer equipment

25% reducing balance/ straight line over 3 years

Motor vehicles

25% reducing balance

Plant & machinery

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 11).

 

Skeffington Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Fixtures, fittings and computer equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2023

11,661

58,129

3,369

73,159

Additions

3,682

-

1,966

5,648

At 31 May 2024

15,343

58,129

5,335

78,807

Depreciation

At 1 June 2023

7,475

22,621

1,123

31,219

Charge for the year

2,791

12,562

1,778

17,131

At 31 May 2024

10,266

35,183

2,901

48,350

Carrying amount

At 31 May 2024

5,077

22,946

2,434

30,457

At 31 May 2023

4,186

35,508

2,246

41,940

5

Investment properties

2024
£

At 1 June

3,538,212

Additions

589,285

At 31 May

4,127,497

The Director did not believe that it was commercially viable to revalue the properties at the balance sheet date and so the properties are currently held on the Balance Sheet at cost.

 

Skeffington Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

177

177

Investments in associates

155

105

332

282

Subsidiaries

£

Cost or valuation

At 1 June 2023

177

At 31 May 2024

177

Carrying amount

At 31 May 2024

177

At 31 May 2023

177

Associates

£

Cost

At 1 June 2023

155

At 31 May 2024

155

Carrying amount

At 31 May 2024

155

At 31 May 2023

105

 

Skeffington Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Skeffington Marine Limited

England and Wales

Ordinary

100%

100%

Discounted Cosmetics Limited

England and Wales

Ordinary

100%

100%

Skeffington Developments Limited

England and Wales

Ordinary

100%

100%

Associates

D&J Property Cheshire Limited

England and Wales

Ordinary

50%

50%

R Davenport Properties Ltd

England and Wales

Ordinary

50%

50%

PHR Properties (Cheshire) Ltd

England and Wales

Ordinary

50%

50%

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

135,150

92,018

Amounts owed by related parties

914,591

818,654

Other debtors

 

60,258

14,068

   

1,109,999

924,740

 

Skeffington Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

24,853

27,766

Trade creditors

 

47,772

35,419

Amounts owed to group undertakings and participating interests

1,664,702

1,437,273

Taxation and social security

 

4,215

2,000

Other creditors

 

540,535

538,361

 

2,282,077

2,040,819

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

2,833,213

2,225,791

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank loan

17,498

18,966

Hire purchase

7,355

8,800

24,853

27,766

2024
£

2023
£

Non-current loans and borrowings

Bank loan

11,668

31,005

Hire purchase

16,974

26,529

Mortgages

2,804,571

2,168,257

2,833,213

2,225,791

The mortgages are secured on the investment Properties held in the company.