Registered Number
:
00532759
|
For the year ended 23 December 2018
England and Wales
Unaudited Financial Statements
For the year ended 23 December 2018
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
23/12/2017
23/12/2018
8,066,784
8,066,784
2
8,066,784
8,066,784
Trade and other receivables
|
6,822,448
6,828,650
3
4,442
4,442
4
293,732
Cash and cash equivalents
|
318,376
7,151,468
7,120,622
Trade and other payables
:
amounts falling due within one year
|
(7,120,362)
(7,244,920)
5
260
(93,452)
Net current liabilities
Total assets less current liabilities
|
7,973,332
8,067,044
7,973,332
Net assets
8,067,044
100,000
100,000
2,073,674
2,073,674
6
3,549,760
3,643,472
2,249,898
2,249,898
7,973,332
8,067,044
Shareholders' funds
For the year ended 23 December 2018 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 2018 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their 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 19 April 2019 and were signed by:
|
The notes form part of these financial statements
|
1 of 4
For the year ended 23 December 2018
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 freehold properties were professionally valued in December
2011
.
Under the transitional provisions of the
|
Financial Reporting Standard for Smaller Entities
(
effective January
2015
)
the properties continue to be stated at that
|
valuation less accumulated depreciation to date and that valuation has not been updated
.
|
Investment property
Investment properties are included in the balance sheet at their open market value at the balance sheet date. 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 2018
K Scott Properties Ltd
Notes to the Financial Statements Continued
2
.
Investments held as fixed assets
|
8,066,784
8,066,784
8,066,784
8,066,784
8,066,784
8,066,784
8,066,784
8,066,784
The only fixed asset investments are the Investment Properties, included at valuation.
3
.
Trade and other receivables
|
23/12/2017
23/12/2018
(24,469)
42,946
Amounts owed by group undertakings and participating interests
|
6,841,702
6,779,502
11,417
-
6,822,448
6,828,650
4
.
Financial instruments at fair value
|
23/12/2017
23/12/2018
Shares in group undertakings
|
4,442
4,442
5
.
Trade and other payables
:
amounts falling due within one year
|
23/12/2017
23/12/2018
Amounts owed to group undertaking and undertaking in which the company
|
has a participating interest
|
7,183,983
7,045,124
Taxation and social security
|
41,692
58,263
19,245
16,975
7,244,920
7,120,362
3 of 4
For the year ended 23 December 2018
K Scott Properties Ltd
Notes to the Financial Statements Continued
Revaluation reserve at
24
December
2017
|
2,073,674
2,073,674
Revaluation reserve at
23
December
2018
|
4 of 4