Registration number: 10625777

SCES Property Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

SCES Property Ltd

(Registration number: 10625777)
Balance Sheet as at 31 May 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	-	599
Investment property	6	12,180,000	12,180,000
		12,180,000	12,180,599
Current assets
Debtors		53,145	63,215
Cash at bank and in hand		192,562	120,466
		245,707	183,681
Creditors: Amounts falling due within one year	7	(105,346)	(92,956)
Net current assets		140,361	90,725
Total assets less current liabilities		12,320,361	12,271,324
Creditors: Amounts falling due after more than one year	7	(868,921)	(885,391)
Provisions for liabilities		(187,850)	(188,045)
Net assets		11,263,590	11,197,888
Capital and reserves
Called up share capital		9,247,171	9,247,171
Other reserves		563,549	563,549
Retained earnings		1,452,870	1,387,168
Shareholders' funds		11,263,590	11,197,888

SCES Property Ltd

(Registration number: 10625777)
Balance Sheet as at 31 May 2025

For the financial year ending 31 May 2025 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.

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 12 November 2025 and signed on its behalf by:
 

......................................... L Mackenzie Director

SCES Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

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:
Swampton Farm
Gangbridge
St. Mary Bourne
Andover
Hampshire
SP11 6EW
England

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.

Revenue recognition

Turnover comprises the fair value of the rentals and other income received or receivable in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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
Office Equipment	25% straight line basis

SCES Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

SCES Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

3

Taxation

Under FRS 102 deferred tax is not provided on the revaluation of investment properties arising from a group transfer as the change in value is considered to be a permanent difference, had deferred tax been provided a provision of £1,599,189 (2024 - £1,599,189) would have been required.

In 2025 deferred tax of £187,850 (2024 - £188,045) was provided on the increase in value since the properties have been owned by SCES Property Limited.

4	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 4).

5	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 June 2024	3,667	3,667
At 31 May 2025	3,667	3,667
Depreciation
At 1 June 2024	3,068	3,068
Charge for the year	599	599
At 31 May 2025	3,667	3,667
Carrying amount
At 31 May 2025	-	-
At 31 May 2024	599	599

SCES Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

6	Investment properties

	2025 £
At 1 June	12,180,000
At 31 May	12,180,000

The Investment Properties were historically transferred to the Company as part of a dividend in specie. At the date of the demerger on 17 February 2017, open market values were agreed beween the parties at arm's length and with the assistance of independant valuers. The properties were revalued in August 2021 by estate agents Belvoir using their local knowledge of the market and comparable properties. The directors believe the valuation is still accurate at the 31 May 2025.

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	18,493	17,357
Trade creditors		-	842
Taxation and social security		72,072	59,544
Other creditors		14,781	15,213
		105,346	92,956