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REGISTERED NUMBER: 05185696 (England and Wales)















Financial Statements for the Year Ended 29 October 2022

for

Spenlaw Limited

Spenlaw Limited (Registered number: 05185696)






Contents of the Financial Statements
for the Year Ended 29 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spenlaw Limited

Company Information
for the Year Ended 29 October 2022







DIRECTOR: P Spencer





REGISTERED OFFICE: Tenby Mount
Grove Road
Mollington
Chester
Cheshire
CH1 6LG





REGISTERED NUMBER: 05185696 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

Spenlaw Limited (Registered number: 05185696)

Balance Sheet
29 October 2022

29.10.22 29.10.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,118 1,204
Investment property 5 1,192,500 1,192,500
1,193,618 1,193,704

CURRENT ASSETS
Debtors 6 373,765 380,506

CREDITORS
Amounts falling due within one year 7 35,201 36,856
NET CURRENT ASSETS 338,564 343,650
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,532,182

1,537,354

CREDITORS
Amounts falling due after more than one
year

8

(1,053,163

)

(1,048,735

)

PROVISIONS FOR LIABILITIES (78,054 ) (78,070 )
NET ASSETS 400,965 410,549

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 409,691 409,691
Retained earnings (8,826 ) 758
SHAREHOLDERS' FUNDS 400,965 410,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 October 2022 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.

Spenlaw Limited (Registered number: 05185696)

Balance Sheet - continued
29 October 2022


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 October 2023 and were signed by:





P Spencer - Director


Spenlaw Limited (Registered number: 05185696)

Notes to the Financial Statements
for the Year Ended 29 October 2022

1. STATUTORY INFORMATION

Spenlaw 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable on property rental, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised as the rents become due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Investment property
The company's accounting policy is to treat properties held for rental income as investment properties. No depreciation is provided on these properties and they are recorded in the balance sheet at their open market value as determined each year. The change in valuation is taken to the revaluation reserve.

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Spenlaw Limited (Registered number: 05185696)

Notes to the Financial Statements - continued
for the Year Ended 29 October 2022

2. ACCOUNTING POLICIES - continued
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 NIL (2021 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 30 October 2021
and 29 October 2022 2,561
DEPRECIATION
At 30 October 2021 1,357
Charge for year 86
At 29 October 2022 1,443
NET BOOK VALUE
At 29 October 2022 1,118
At 29 October 2021 1,204

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 October 2021
and 29 October 2022 1,192,500
NET BOOK VALUE
At 29 October 2022 1,192,500
At 29 October 2021 1,192,500

The Investment property has been revalued on 31st October 2010 at an open market value. The valuation was performed by the directors of the company.

If the investment properties were sold at the carrying amount in the balance sheet the amount of tax payable would be £119,000, (2021 £119,000).


.

Spenlaw Limited (Registered number: 05185696)

Notes to the Financial Statements - continued
for the Year Ended 29 October 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.10.22 29.10.21
£    £   
Amounts owed by group undertakings 369,977 378,613
Other debtors 3,788 1,893
373,765 380,506

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.10.22 29.10.21
£    £   
Bank loans and overdrafts 25,552 25,537
Taxation and social security 5,450 7,042
Other creditors 4,199 4,277
35,201 36,856

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.10.22 29.10.21
£    £   
Bank loans 42,593 44,445
Other creditors 1,010,570 1,004,290
1,053,163 1,048,735

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 1,010,570 1,004,290

Repayable by instalments
Bank loans more 5 yr by instal 20,370 22,222

9. SECURED DEBTS

The following secured debts are included within creditors:

29.10.22 29.10.21
£    £   
Other loans 1,010,570 1,004,290

10. RESERVES
Revaluation
reserve
£   
At 30 October 2021
and 29 October 2022 409,691

Spenlaw Limited (Registered number: 05185696)

Notes to the Financial Statements - continued
for the Year Ended 29 October 2022

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 October 2022 and 29 October 2021:

29.10.22 29.10.21
£    £   
P Spencer
Balance outstanding at start of year - 108
Amounts repaid - (108 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

A limited guarantee has been given by Peter Spencer, the director, for £20,000 in respect of the bank overdraft.