SCNW Properties Limited - Accounts to registrar (filleted) - small 18.2

SCNW Properties Limited - Accounts to registrar (filleted) - small 18.2

SCNW PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 09780907 (England and Wales)







Unaudited Financial Statements

for the Year Ended 30 September 2019

for

SCNW Properties Limited
SCNW Properties Limited (Registered number: 09780907)






Contents of the Financial Statements
for the Year Ended 30 September 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SCNW Properties Limited

Company Information
for the Year Ended 30 September 2019







DIRECTOR: S Pendergast





REGISTERED OFFICE: Military House
24 Castle Street
Chester
Cheshire
CH1 2DS





REGISTERED NUMBER: 09780907 (England and Wales)





ACCOUNTANTS: Pursglove & Brown
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS
Page 1
SCNW Properties Limited (Registered number: 09780907)

Balance Sheet
30 September 2019

30.9.19 30.9.18
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,100,000 1,100,000

CURRENT ASSETS
Stocks 515,471 903,597
Cash at bank 156,890 6,359
672,361 909,956
CREDITORS
Amounts falling due within one year 5 796,191 790,147
NET CURRENT (LIABILITIES)/ASSETS (123,830 ) 119,809
TOTAL ASSETS LESS CURRENT
LIABILITIES
976,170
1,219,809

CREDITORS
Amounts falling due after more than one year 6 (572,954 ) (897,822 )

PROVISIONS FOR LIABILITIES (46,500 ) (46,500 )
NET ASSETS 356,716 275,487

CAPITAL AND RESERVES
Called up share capital 7 100 100
Fair value reserve 8 198,229 198,229
Retained earnings 158,387 77,158
SHAREHOLDERS' FUNDS 356,716 275,487

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 1 June 2020 and were signed by:



S Pendergast - Director


The notes form part of these financial statements

Page 2
SCNW Properties Limited (Registered number: 09780907)

Notes to the Financial Statements
for the Year Ended 30 September 2019

1. STATUTORY INFORMATION

SCNW Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered
number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax
and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is
recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to
their present location and condition.

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.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 taxation assets and liabilities are not discounted.

Current and deferred 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

Page 3 continued...
SCNW Properties Limited (Registered number: 09780907)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2019

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2018
and 30 September 2019 1,100,000
NET BOOK VALUE
At 30 September 2019 1,100,000
At 30 September 2018 1,100,000

Fair value at 30 September 2019 is represented by:

£   
Valuation in 2017 244,729
Cost 855,271
1,100,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.19 30.9.18
£    £   
Bank loans and overdrafts 32,902 32,902
Taxation and social security 46,642 22,578
Other creditors 716,647 734,667
796,191 790,147

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.19 30.9.18
£    £   
Bank loans 572,954 897,822

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 441,346 766,214

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 30.9.19 30.9.18
value: £    £   
100 Ordinary £1 100 100

Page 4 continued...
SCNW Properties Limited (Registered number: 09780907)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2019

8. RESERVES
Fair
value
reserve
£   
At 1 October 2018
and 30 September 2019 198,229

Page 5