Registered number
11047831
SCG Property London Limited
Unaudited Filleted Accounts
30 November 2024
TRUEMAN BROWN
CHARTERED ACCOUNTANTS
7 FOXGLOVE ROAD
SOUTH OCKENDON
ESSEX. RM15 6EU
SCG Property London Limited
Registered number: 11047831
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 180,000 175,000
Current assets
Debtors 4 6,274 7,235
Cash at bank and in hand 3,062 2,346
9,336 9,581
Creditors: amounts falling due within one year 5 (138,578) (139,963)
Net current liabilities (129,242) (130,382)
Total assets less current liabilities 50,758 44,618
Provisions for liabilities (2,850) (1,910)
Net assets 47,908 42,708
Capital and reserves
Revaluation reserve 6 9,789 5,729
Profit and loss account 38,119 36,979
Shareholder's funds 47,908 42,708
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Clare Guler
Director
Approved by the board on 26 August 2025
SCG Property London Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investments
Other
investments
£
Cost
At 1 December 2023 175,000
Revaluation 5,000
At 30 November 2024 180,000
Historical cost
At 1 December 2023 160,000
At 30 November 2024 160,000
4 Debtors 2024 2023
£ £
Trade debtors 5,635 7,235
Other debtors 639 -
6,274 7,235
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 136 (526)
Taxation and social security costs 267 1,363
Other creditors 138,175 139,126
138,578 139,963
6 Revaluation reserve 2024 2023
£ £
At 1 December 2023 5,729 46,687
Gain/(loss) on revaluation of land and buildings 5,000 (50,000)
Deferred taxation arising on the revaluation of land and buildings (940) 9,042
At 30 November 2024 9,789 5,729
7 Related party transactions
Included within Other Creditors at the year end is a loan amount of £137,925 (2023: £139,126) due to the company directors. The loan is unsecured, free of interest and repayable on demand.
8 Controlling party
During this and the previous year, the ultimate controlling party are Clare and Sadettin Guler by virtue of controlling the entire share capital of the company.
9 Other information
SCG Property London Limited is a private company limited by shares and incorporated in England. Its registered office is:
291 Green Lanes
London
N13 4XS
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