REGISTERED NUMBER: 03663225 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 SEPTEMBER 2024

FOR

SCENTAREA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Barrett

REGISTERED OFFICE:

Unit 1 Brookside Business Park

Brookside Road

Uttoxeter

Staffordshire

ST14 8AT

REGISTERED NUMBER:

03663225 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

FIXED ASSETS

Tangible assets

4

15,314

20,981

Investments

5

-

51,936

Investment property

6

7,415,288

7,235,109

7,430,602

7,308,026

CURRENT ASSETS

Stocks

7

305,547

305,547

Debtors

8

6,206,488

5,395,937

Cash at bank

-

1,025,173

6,512,035

6,726,657

CREDITORS

Amounts falling due within one year

9

3,831,668

2,271,224

NET CURRENT ASSETS

2,680,367

4,455,433

TOTAL ASSETS LESS CURRENT LIABILITIES

10,110,969

11,763,459

CREDITORS

Amounts falling due after more than one year

10

-

(1,400,000

)

PROVISIONS FOR LIABILITIES

(965,884

)

(1,014,871

)

NET ASSETS

9,145,085

9,348,588

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

4,473,788

4,473,788

Retained earnings

4,671,295

4,874,798

9,145,085

9,348,588

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2025 and were signed by:

M J Barrett - Director

1.	STATUTORY INFORMATION

Scentarea Limited is a private company limited by shares (registered number 03663225), which is incorporated in England and Wales. The trading address and registered office is Brookside Business Park, Uttoxeter, Staffordshire, ST14 8AT.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover consists entirely of rental income.

Rental income is recognised in the period to which it relates.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the reducing balance method.

Plant and Machinery - 25% reducing balance

Motor vehicles - 25% reducing balance

Fixtures and fittings - 15% reducing balance

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Work in progress and finished goods include all direct costs and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Going concern

Due to cross guarantees throughout the Group, going concern of the Company is dependent on the performance of the Group overall. After reviewing the Group's forecast and projections for the next 12 months, the Directors are confident that the Group has adequate resources to continue for the foreseeable future. The Group therefore continues to adopt the going concern basis in preparing its financial statements. The Group has external financing facilities for growth and development purposes. The Group’s strategy and projections continue to include the realisation of various none core assets over the next 12 to 18 months to reduce bank debt, provide additional working capital and fund profitable development opportunities.

Valuation of investments

Investments in subsidiaries and joint ventures are measured at cost less accumulated impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 29 September 2023

173,390

542,383

7,700

723,473

Disposals

(1,295

)

(9,606

)

-

(10,901

)

At 28 September 2024

172,095

532,777

7,700

712,572

Depreciation

At 29 September 2023

168,833

533,057

602

702,492

Charge for year

1,112

1,178

1,775

4,065

Eliminated on disposal

(1,178

)

(8,121

)

-

(9,299

)

At 28 September 2024

168,767

526,114

2,377

697,258

Net book value

At 28 September 2024

3,328

6,663

5,323

15,314

At 28 September 2023

4,557

9,326

7,098

20,981

5.	FIXED ASSET INVESTMENTS

Investments

in

subsidiary

companies

£

Cost

At 29 September 2023

51,936

Disposals

(51,936

)

At 28 September 2024

-

Net book value

At 28 September 2024

-

At 28 September 2023

51,936

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Rotarad Limited

Registered office: England and Wales

Nature of business: Central heating services

%

Class of shares:

holding

Ordinary

The shareholdings in Rotarad Limited at 28/09/2024 were £NIL, due to Rotarad Limited liquidating on the 21/09/2024.

6.	INVESTMENT PROPERTY

Total

£

Fair value

At 29 September 2023

7,235,109

Additions

180,179

At 28 September 2024

7,415,288

Net book value

At 28 September 2024

7,415,288

At 28 September 2023

7,235,109

The historic cost of the land and buildings is £2,231,265 (2023: £2,051,087). Investment properties were revalued by the director on an open market basis on 28 September 2024.

7.

STOCKS

2024

2023

£

£

Finished goods and goods

for resale

305,547

305,547

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

33,419

28,986

Amounts owed by group undertakings

6,042,700

5,111,715

Amounts owed by participating interests

-

64,892

VAT

30,561

36,736

Prepayments and accrued income

99,808

153,608

6,206,488

5,395,937

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

2,935,354

1,517,750

Trade creditors

283,676

198,338

Amounts owed to group undertakings

321,868

260,108

Other creditors

250,000

250,000

Accruals and deferred income

40,770

45,028

3,831,668

2,271,224

Within bank loans are amount owing to HSBC plc of £1,517,750 (2023: £1,517,750), and amount owing to Staffordshire County Council of £1,400,000 (2023: £NIL).

Secured loans

Bank borrowings of £1,517,750 (2023: £1,517,750) is secured by a mortgage debenture and fixed floating charge over all current and future assets owned by the Company. The borrowings of £1,400,000 (2023: £NIL) is secured by a mortgage debenture and fixed floating charge over all current and future assets owned by the Company.

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

-

1,400,000

Within bank loans are amount owing to Staffordshire County Council of £NIL (2023: £1,400,000).

Secured loans

Bank borrowings of £NIL (2023: £1,400,000) is secured by a mortgage debenture and fixed floating charge over all current and future assets owned by the Company.

11.	ULTIMATE CONTROLLING PARTY

The Company's parent undertaking at the Balance sheet date was M J Barrett Group Limited, a Company incorporated in England and Wales. Copies of these financial statements are available from the Company's registered office.

The Company is controlled by M J Barrett who owns 100% of the issued share capital of M J Barrett Group Limited.