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COMPANY REGISTRATION NUMBER: 09565892
SPE PROPERTY INVESTMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2023
SPE PROPERTY INVESTMENTS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
Contents
Page
Balance sheet 1
Notes to the financial statements 2
SPE PROPERTY INVESTMENTS LIMITED
BALANCE SHEET
30 April 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
1,007,179
1,007,532
Current assets
Debtors
5
1,656
1,663
Cash at bank and in hand
31,074
61,771
------------
------------
32,730
63,434
Creditors: amounts falling due within one year
6
( 759,253)
( 825,769)
------------
------------
Net current liabilities
( 726,523)
( 762,335)
------------
------------
Total assets less current liabilities
280,656
245,197
------------
------------
Net assets
280,656
245,197
------------
------------
Capital and reserves
Called up share capital
7
100
100
Profit and loss account
280,556
245,097
------------
------------
Shareholders funds
280,656
245,197
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 6 October 2023 , and are signed on behalf of the board by:
S W Johnson
C Johnson
Director
Director
Company registration number: 09565892
SPE PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 37 Binns Lane, Holmfirth, HD9 3BJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents rental income receivable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
100% straight line
Computer equipment
-
33% straight line
Investment properties
FRS102 requires that properties held for investment be included in the balance sheet at fair value in accordance with section 16 of FRS 102. The directors consider that to comply with this requirement would involve unjustifiable expense and investment properties are continuing to be stated at cost.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. Tangible assets
Freehold Investment properties
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 May 2022 and 30 April 2023
1,006,826
3,000
1,060
1,010,886
------------
------------
------------
------------
Depreciation
At 1 May 2022
3,000
354
3,354
Charge for the year
353
353
------------
------------
------------
------------
At 30 April 2023
3,000
707
3,707
------------
------------
------------
------------
Carrying amount
At 30 April 2023
1,006,826
353
1,007,179
------------
------------
------------
------------
At 30 April 2022
1,006,826
706
1,007,532
------------
------------
------------
------------
5. Debtors
2023
2022
£
£
Trade debtors
843
850
Prepayments and accrued income
813
813
------------
------------
1,656
1,663
------------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
6,192
9,460
Corporation tax
9,195
13,880
Directors' current accounts
743,866
802,429
------------
------------
759,253
825,769
------------
------------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
8. Related party transactions
Transactions with the directors The directors' current accounts included in creditors due within one year above are unsecured, repayable on demand and are currently interest free.
9. Controlling party
The company is controlled by Mr C Johnson .