Registered Number
:
00532759
|
For the year ended 23 December 2019
England and Wales
Unaudited Financial Statements
For the year ended 23 December 2019
K Scott Properties Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
K Scott Properties Ltd
Statement of Financial Position
23/12/2018
23/12/2019
8,066,784
7,655,000
2
7,655,000
8,066,784
Trade and other receivables
|
6,828,650
7,008,628
3
4,442
4,442
4
318,376
Cash and cash equivalents
|
1,668,693
8,681,763
7,151,468
Trade and other payables
:
amounts falling due within one year
|
(7,244,920)
(7,319,392)
5
(93,452)
1,362,371
Net current assets
Total assets less current liabilities
|
9,017,371
7,973,332
9,017,371
Net assets
7,973,332
100,000
100,000
2,549,978
2,073,674
6
3,441,595
3,549,760
2,925,798
2,249,898
9,017,371
7,973,332
Shareholders' funds
For the year ended 23 December 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 23 December 2019 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 31 March 2020 and were signed by:
|
The notes form part of these financial statements
|
1 of 4
For the year ended 23 December 2019
K Scott Properties Ltd
Notes to the Financial Statements
Statutory Information
K Scott Properties Ltd is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration number
|
00532759
.
|
Principal place of business
:
|
332 Hill Lane
Southampton
SO15 7NW
10 St Bride Street,
London
EC4A 4AD
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial Reporting
|
Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the Companies Act
2006
.
|
The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain
|
assets
.
|
Revenue recognition
Turnover represents rents receivable.
Property, plant and equipment
The company
''
s properties were professionally valued by Allsop pll at
17
th January
2020
..
Under the transitional provisions
|
of the Financial Reporting Standard for Smaller Entities
(
effective January
2015
)
the properties have been stated at that
|
valuation
..
|
Investment property
Investment properties are included in the balance sheet at their open market value at 17th January 2020. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
|
2 of 4
For the year ended 23 December 2019
K Scott Properties Ltd
Notes to the Financial Statements Continued
2
.
Investments held as fixed assets
|
8,066,784
8,066,784
(1,300,000)
(1,300,000)
888,216
888,216
7,655,000
7,655,000
7,655,000
7,655,000
8,066,784
8,066,784
The only fixed asset investments are the Investment Properties, included at valuation.
3
.
Trade and other receivables
|
23/12/2018
23/12/2019
11,426
(24,469)
Amounts owed by group undertakings and participating interests
|
6,997,202
6,841,702
-
11,417
6,828,650
7,008,628
4
.
Financial instruments at fair value
|
23/12/2018
23/12/2019
Shares in group undertakings
|
4,442
4,442
5
.
Trade and other payables
:
amounts falling due within one year
|
23/12/2018
23/12/2019
Amounts owed to group undertaking and undertaking in which the company
|
has a participating interest
|
7,268,370
7,183,983
Taxation and social security
|
32,647
41,692
18,375
19,245
7,319,392
7,244,920
3 of 4
For the year ended 23 December 2019
K Scott Properties Ltd
Notes to the Financial Statements Continued
Revaluation reserve at
24
December
2018
|
2,073,674
Revaluation of fixed assets
|
888,216
Transfers to
/
from other reserves
|
(411,912)
2,549,978
Revaluation reserve at
23
December
2019
|
Revaluation Reserve represents nominal gains or losses arising on regular revaluations
.
Other Reserves are capital gains
|
actually realised
.
During the year an investment property was sold that realised a gain over original cost of £
675
,
900
,
|
credited to Capital Reseerve
.
Of this sum
,
£
411
,
912
gain had been anticipated in earlier accounts and is therefore
|
transferred from Revaluation Reserve against Capital Reserve
.
|
4 of 4