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Registration number: 12391951

Skeffington Developments Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Skeffington Developments Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Skeffington Developments Limited

(Registration number: 12391951)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

20,220

27,144

Current assets

 

Debtors

5

43,742

56,678

Cash at bank and in hand

 

2,113

2,002

 

45,855

58,680

Creditors: Amounts falling due within one year

6

(60,971)

(62,754)

Net current liabilities

 

(15,116)

(4,074)

Total assets less current liabilities

 

5,104

23,070

Creditors: Amounts falling due after more than one year

6

(11,143)

(29,131)

Net liabilities

 

(6,039)

(6,061)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(6,139)

(6,161)

Shareholders' deficit

 

(6,039)

(6,061)

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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Skeffington Developments Limited

(Registration number: 12391951)
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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

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

 

Skeffington Developments 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 £.

Going concern

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 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.

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 Developments 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

straight line over 3 years

Motor vehicles

25% reducing balance

Plant and equipment

25% reducing balance

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Skeffington Developments 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 equipment
£

Total
£

Cost or valuation

At 1 June 2023

1,136

56,137

3,934

61,207

At 31 May 2024

1,136

56,137

3,934

61,207

Depreciation

At 1 June 2023

951

31,179

1,933

34,063

Charge for the year

185

6,239

500

6,924

At 31 May 2024

1,136

37,418

2,433

40,987

Carrying amount

At 31 May 2024

-

18,719

1,501

20,220

At 31 May 2023

185

24,958

2,001

27,144

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

12,000

12,000

Amounts owed by related parties

31,742

44,678

   

43,742

56,678

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

17,987

21,803

Trade creditors

 

1,605

1,266

Accruals and deferred income

 

1,200

-

Other creditors

 

679

185

Amounts owed to participating interests

 

39,500

39,500

 

60,971

62,754

 

Skeffington Developments Limited

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

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

11,143

29,131

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank loan

10,000

10,000

Hire purchase

7,987

11,803

17,987

21,803

2024
£

2023
£

Non-current loans and borrowings

Bank loan

9,999

20,000

Hire purchase

1,144

9,131

11,143

29,131