Company registration number 08179394 (England and Wales)
SCARBOROUGH HOUSE PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
SCARBOROUGH HOUSE PROPERTIES LIMITED
COMPANY INFORMATION
Directors
Mr K W Hill
Mr M W Hill
(Appointed 9 August 2024)
Company number
08179394
Registered office
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
1 Church Street
Malvern
Worcestershire
WR14 2AB
SCARBOROUGH HOUSE PROPERTIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
SCARBOROUGH HOUSE PROPERTIES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SCARBOROUGH HOUSE PROPERTIES LIMITED FOR THE YEAR ENDED 31 MARCH 2025
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Scarborough House Properties Limited for the year ended 31 March 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Scarborough House Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Scarborough House Properties Limited and state those matters that we have agreed to state to the board of directors of Scarborough House Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Scarborough House Properties Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Scarborough House Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Scarborough House Properties Limited. You consider that Scarborough House Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Scarborough House Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
30 June 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SCARBOROUGH HOUSE PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
33,933
44,752
Investment property
4
2,508,559
2,499,929
2,542,492
2,544,681
Current assets
Debtors
5
1,731
300
Cash at bank and in hand
18,379
3,670
20,110
3,970
Creditors: amounts falling due within one year
6
(29,370)
(27,031)
Net current liabilities
(9,260)
(23,061)
Total assets less current liabilities
2,533,232
2,521,620
Creditors: amounts falling due after more than one year
7
(35,274)
(40,835)
Provisions for liabilities
8
(84,847)
(112,465)
Net assets
2,413,111
2,368,320
Capital and reserves
Called up share capital
10
100
100
Share premium account
1,723,667
1,723,667
Revaluation reserve
11
35,760
35,760
Non-distributable profits reserve
12
449,752
449,752
Distributable profit and loss reserves
203,832
159,041
Total equity
2,413,111
2,368,320
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SCARBOROUGH HOUSE PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 30 June 2025 and are signed on its behalf by:
Mr K W Hill
Director
Company registration number 08179394 (England and Wales)
SCARBOROUGH HOUSE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information
Scarborough House Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.
Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
SCARBOROUGH HOUSE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
3
3
SCARBOROUGH HOUSE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2024
2,991
80,286
83,277
Additions
165
165
At 31 March 2025
3,156
80,286
83,442
Depreciation and impairment
At 1 April 2024
699
37,826
38,525
Depreciation charged in the year
369
10,615
10,984
At 31 March 2025
1,068
48,441
49,509
Carrying amount
At 31 March 2025
2,088
31,845
33,933
At 31 March 2024
2,292
42,460
44,752
4
Investment property
2025
£
Fair value
At 1 April 2024
2,499,929
Additions
8,630
At 31 March 2025
2,508,559
The directors have assessed the market value of the properties and consider that there has been no significant change in the market value at the year end.
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
126
Other debtors
1,605
300
1,731
300
SCARBOROUGH HOUSE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
1,063
595
Other creditors
28,307
26,436
29,370
27,031
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
35,274
40,835
8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
84,847
112,465
9
Secured debts
The following secured debts are included within creditors:
2025
2024
£
£
Hire purchase contracts
40,835
46,396
Hire purchase contracts are secured against the assets to which they relate.
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 1p each
250
500
2
5
Ordinary GBP shares of £1 each
95
95
95
95
Ordinary B shares of 1p each
250
0
3
595
595
100
100
During the year, the company underwent a share reclassification.
250 Ordinary A shares of £0.01 were reclassified as 250 Ordinary B shares of £0.01. The rights and privileges of these shares remain unaltered.
SCARBOROUGH HOUSE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
11
Revaluation reserve
2025
2024
£
£
At the beginning and end of the year
35,760
35,760
12
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the year
449,752
-
Non distributable profits in the year
-
449,752
At the end of the year
449,752
449,752
13
Ultimate controlling party
There is no ultimate controlling party.
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