Company registration number 05245441 (England and Wales)
SPALDING ESTATES LIMITED
(CESSATION ACCOUNTS)
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2022
PAGES FOR FILING WITH REGISTRAR
SPALDING ESTATES LIMITED
(CESSATION ACCOUNTS)
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
SPALDING ESTATES LIMITED
(CESSATION ACCOUNTS)
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SPALDING ESTATES LIMITED FOR THE PERIOD ENDED 31 JULY 2022
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spalding Estates Limited for the Period ended 31 July 2022 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation

This report is made solely to the Board of Directors of Spalding Estates Limited, as a body, in accordance with the terms of our engagement letter dated 30 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Spalding Estates Limited and state those matters that we have agreed to state to the Board of Directors of Spalding Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spalding Estates Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Spalding Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Spalding Estates Limited. You consider that Spalding Estates Limited is exempt from the statutory audit requirement for the Period.

We have not been instructed to carry out an audit or a review of the financial statements of Spalding Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bryden Johnson Limited
15 August 2022
Chartered Accountants
Kings Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
SPALDING ESTATES LIMITED
(CESSATION ACCOUNTS)
BALANCE SHEET
AS AT
31 JULY 2022
31 July 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
0
1,153
Investment properties
5
-
0
1,525,000
-
0
1,526,153
Current assets
Debtors
6
307,974
5,436
Cash at bank and in hand
1,425,855
433,617
1,733,829
439,053
Creditors: amounts falling due within one year
7
(83,450)
(236,405)
Net current assets
1,650,379
202,648
Total assets less current liabilities
1,650,379
1,728,801
Provisions for liabilities
-
0
(96,819)
Net assets
1,650,379
1,631,982
Capital and reserves
Called up share capital
8
1
1
Other reserves
-
0
520,615
Profit and loss reserves
1,650,378
1,111,366
Total equity
1,650,379
1,631,982

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

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

SPALDING ESTATES LIMITED
(CESSATION ACCOUNTS)
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2022
31 July 2022
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 12 August 2022
Mr J H F Spalding
Director
Company Registration No. 05245441
SPALDING ESTATES LIMITED
(CESSATION ACCOUNTS)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2022
- 4 -
1
Accounting policies
Company information

Spalding Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kings Parade, Lower Coombe Street, Croydon, Surrey, CR0 1AA. The principal place of business is 137 Ireton Avenue, Walton-On-Thames, Surrey, KT12 1EN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Turnover

Turnover represents amounts receivable for gross rental income and ground rents.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

 

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

SPALDING ESTATES LIMITED
(CESSATION ACCOUNTS)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2022
1
Accounting policies
(Continued)
- 5 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

 

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SPALDING ESTATES LIMITED
(CESSATION ACCOUNTS)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2022
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2022
2021
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021
3,012
Disposals
(3,012)
At 31 July 2022
-
0
Depreciation and impairment
At 1 April 2021
1,859
Depreciation charged in the Period
384
Eliminated in respect of disposals
(2,243)
At 31 July 2022
-
0
Carrying amount
At 31 July 2022
-
0
At 31 March 2021
1,153
SPALDING ESTATES LIMITED
(CESSATION ACCOUNTS)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2022
- 7 -
5
Investment property
2022
£
Fair value
At 1 April 2021
1,525,000
Disposals
(1,525,000)
At 31 July 2022
-
0
6
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
307,974
5,436
7
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
-
0
1,200
Corporation tax
81,229
53,371
Other taxation and social security
-
0
2,300
Other creditors
2,221
179,534
83,450
236,405
8
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Share of £1 each
1
1
1
1
2022-07-312021-04-01false15 August 2022CCH SoftwareCCH Accounts Production 2022.200No description of principal activityMr J Spalding052454412021-04-012022-07-31052454412022-07-31052454412021-03-3105245441core:OtherPropertyPlantEquipment2022-07-3105245441core:OtherPropertyPlantEquipment2021-03-3105245441core:CurrentFinancialInstrumentscore:WithinOneYear2022-07-3105245441core:CurrentFinancialInstrumentscore:WithinOneYear2021-03-3105245441core:CurrentFinancialInstruments2022-07-3105245441core:CurrentFinancialInstruments2021-03-3105245441core:ShareCapital2022-07-3105245441core:ShareCapital2021-03-3105245441core:OtherMiscellaneousReserve2022-07-3105245441core:OtherMiscellaneousReserve2021-03-3105245441core:RetainedEarningsAccumulatedLosses2022-07-3105245441core:RetainedEarningsAccumulatedLosses2021-03-3105245441bus:Director12021-04-012022-07-3105245441core:PlantMachinery2021-04-012022-07-31052454412020-04-012021-03-3105245441core:OtherPropertyPlantEquipment2021-03-3105245441core:OtherPropertyPlantEquipment2021-04-012022-07-31052454412021-03-3105245441core:WithinOneYear2022-07-3105245441core:WithinOneYear2021-03-3105245441bus:PrivateLimitedCompanyLtd2021-04-012022-07-3105245441bus:SmallCompaniesRegimeForAccounts2021-04-012022-07-3105245441bus:FRS1022021-04-012022-07-3105245441bus:AuditExemptWithAccountantsReport2021-04-012022-07-3105245441bus:FullAccounts2021-04-012022-07-31xbrli:purexbrli:sharesiso4217:GBP