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REGISTERED NUMBER: 10379434 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SPRING DEVELOPMENTS LIMITED

SPRING DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10379434)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPRING DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: M A Richards
M H Power





REGISTERED OFFICE: Hillside
Harrow Road West
Dorking
Surrey
RH4 3BA





REGISTERED NUMBER: 10379434 (England and Wales)





ACCOUNTANTS: Ellis Atkins
Chartered Accountants
The Atrium Business Centre
Curtis Road
Dorking
Surrey
RH4 1XA

SPRING DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10379434)

BALANCE SHEET
31 MARCH 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 952 1,734
Investments 5 100 -
Investment property 6 1,723,251 1,313,980
1,724,303 1,315,714

CURRENT ASSETS
Stocks 7 1,207,576 962,586
Debtors 8 1,470,589 1,507
Cash at bank 227,495 99,544
2,905,660 1,063,637
CREDITORS
Amounts falling due within one year 9 4,519,696 2,135,813
NET CURRENT LIABILITIES (1,614,036 ) (1,072,176 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,267

243,538

CREDITORS
Amounts falling due after more than one
year

10

-

203,060
NET ASSETS 110,267 40,478

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 126,570 -
Retained earnings (16,403 ) 40,378
SHAREHOLDERS' FUNDS 110,267 40,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SPRING DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10379434)

BALANCE SHEET - continued
31 MARCH 2023


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 Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





M H Power - Director


SPRING DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10379434)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Spring Developments 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 3 and 5 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
In accordance with Financial Reporting Standard 102 investment properties are revalued annually and the aggregate surplus or deficit is dealt with through the profit and loss account. The gain/loss is transferred to a fair value reserve after adjusting for deferred tax. No depreciation is provided in respect of investment properties.

Unfinished investment properties are included at cost until such a time that a valuation can be established.

Stocks
Stock is property held for re-sale, recognised at the lower of cost or net realisable value.

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.

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 (2022 - 2 ) .

SPRING DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10379434)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2022 4,201
Additions 928
At 31 March 2023 5,129
DEPRECIATION
At 1 April 2022 2,467
Charge for year 1,710
At 31 March 2023 4,177
NET BOOK VALUE
At 31 March 2023 952
At 31 March 2022 1,734

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 100
At 31 March 2023 100
NET BOOK VALUE
At 31 March 2023 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,313,980
Additions 567,171
Disposals (284,470 )
Revaluations 126,570
At 31 March 2023 1,723,251
NET BOOK VALUE
At 31 March 2023 1,723,251
At 31 March 2022 1,313,980

SPRING DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10379434)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 1,690,000
Cost 33,251
1,723,251

If investment property had not been revalued it would have been included at the following historical cost:

31/3/23 31/3/22
£    £   
Cost 1,596,681 -

Investment property was valued on an open market basis on 31 March 2023 by the directors .

7. STOCKS
31/3/23 31/3/22
£    £   
Stocks 1,207,576 962,586

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Amounts owed by group undertakings 1,466,384 -
Other debtors 4,205 1,507
1,470,589 1,507

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Other creditors 4,519,696 2,135,813

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans - 203,060

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/23 31/3/22
value: £    £   
50 Ordinary £1 50 50
50 Ordinary "A" £1 50 50
100 100

SPRING DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10379434)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

12. RESERVES
Fair
value
reserve
£   
Reserves transfer 126,570

At 31 March 2023 126,570