Skolak Properties Ltd 04900804 false 2023-10-01 2024-12-31 2024-12-31 The principal activity of the company is the management of rented property. Digita Accounts Production Advanced 6.30.9574.0 true true 04900804 2023-10-01 2024-12-31 04900804 2024-12-31 04900804 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-12-31 04900804 core:CurrentFinancialInstruments 2024-12-31 04900804 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04900804 core:Non-currentFinancialInstruments 2024-12-31 04900804 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 04900804 core:LandBuildings 2024-12-31 04900804 core:OtherRelatedParties 2024-12-31 04900804 bus:SmallEntities 2023-10-01 2024-12-31 04900804 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-12-31 04900804 bus:FilletedAccounts 2023-10-01 2024-12-31 04900804 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-12-31 04900804 bus:RegisteredOffice 2023-10-01 2024-12-31 04900804 bus:Director1 2023-10-01 2024-12-31 04900804 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-10-01 2024-12-31 04900804 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-12-31 04900804 core:LandBuildings 2023-10-01 2024-12-31 04900804 core:OtherRelatedParties 2023-10-01 2024-12-31 04900804 countries:EnglandWales 2023-10-01 2024-12-31 04900804 2023-09-30 04900804 core:LandBuildings 2023-09-30 04900804 core:OtherRelatedParties 2023-09-30 04900804 2022-10-01 2023-09-30 04900804 2023-09-30 04900804 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-09-30 04900804 core:CurrentFinancialInstruments 2023-09-30 04900804 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 04900804 core:Non-currentFinancialInstruments 2023-09-30 04900804 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 04900804 core:LandBuildings 2023-09-30 04900804 core:OtherRelatedParties 2023-09-30 04900804 core:OtherRelatedParties 2022-10-01 2023-09-30 04900804 2022-09-30 04900804 core:OtherRelatedParties 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04900804

Skolak Properties Ltd

Unaudited Filleted Financial Statements

for the Period from 1 October 2023 to 31 December 2024

 

Skolak Properties Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Skolak Properties Ltd

(Registration number: 04900804)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,889,764

1,493,508

Creditors: Amounts falling due within one year

5

(29,441)

(55,734)

Total assets less current liabilities

 

1,860,323

1,437,774

Creditors: Amounts falling due after more than one year

5

(1,989,803)

(1,530,477)

Net liabilities

 

(129,480)

(92,703)

Capital and reserves

 

Called up share capital

6

1,000

1,000

Retained earnings

(130,480)

(93,703)

Shareholders' deficit

 

(129,480)

(92,703)

For the financial period ending 31 December 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 period 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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 9 June 2025 and signed on its behalf by:
 

.........................................
Mr S Ogungbola
Director

 

Skolak Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 December 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:
Castle House
Castle Street
Tyldesley
Manchester
M29 8EG

These financial statements were authorised for issue by the Board on 9 June 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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:

 

Skolak Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 December 2024

Asset class

Depreciation method and rate

Land and buildings

1% per annum straight line basis

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 profit and loss account 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2023 - 0).

 

Skolak Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 December 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost

At 1 October 2023

1,505,629

1,505,629

Additions

417,964

417,964

At 31 December 2024

1,923,593

1,923,593

Depreciation

At 1 October 2023

12,121

12,121

Charge for the period

21,708

21,708

At 31 December 2024

33,829

33,829

Carrying amount

At 31 December 2024

1,889,764

1,889,764

At 30 September 2023

1,493,508

1,493,508

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

27,441

53,734

Accruals and deferred income

 

2,000

2,000

 

29,441

55,734

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

1,989,803

1,530,477

 

Skolak Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 December 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,490,105

1,154,684

Other borrowings

499,698

375,793

1,989,803

1,530,477

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,918

-

Other borrowings

20,523

53,734

27,441

53,734

 

Skolak Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 December 2024

8

Related party transactions

Summary of transactions with other related parties

Skolak Healthcare Limited
 

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

375,793

375,793

Advanced

123,905

123,905

At end of period

499,698

499,698

2023

Other related parties
£

Total
£

At start of period

97,756

97,756

Advanced

278,037

278,037

At end of period

375,793

375,793