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REGISTERED NUMBER: 09751742 (England and Wales)















SKEGNESS SPRINGS HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023






SKEGNESS SPRINGS HOLDINGS LIMITED (REGISTERED NUMBER: 09751742)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


SKEGNESS SPRINGS HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: D B Johnson
I T Johnson



SECRETARY: D B Johnson



REGISTERED OFFICE: Hassall Road
Skegness
Lincolnshire
PE25 3TB



REGISTERED NUMBER: 09751742 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Holdings Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: National Westminster Bank Plc
97 Lumley Road
Skegness
Lincolnshire
PE25 3LY

SKEGNESS SPRINGS HOLDINGS LIMITED (REGISTERED NUMBER: 09751742)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 397,772 402,275

CURRENT ASSETS
Debtors 5 18,498 18,502
Cash at bank 503,123 501,582
521,621 520,084
CREDITORS
Amounts falling due within one year 6 289 -
NET CURRENT ASSETS 521,332 520,084
TOTAL ASSETS LESS CURRENT LIABILITIES 919,104 922,359

PROVISIONS FOR LIABILITIES 8,868 9,994
NET ASSETS 910,236 912,365

CAPITAL AND RESERVES
Called up share capital 7 15,000 15,000
Fair value reserve 8 26,603 29,981
Retained earnings 868,633 867,384
SHAREHOLDERS' FUNDS 910,236 912,365

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 and authorised for issue by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:





D B Johnson - Director


SKEGNESS SPRINGS HOLDINGS LIMITED (REGISTERED NUMBER: 09751742)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Skegness Springs Holdings 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.

Related party exemption
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.

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

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SKEGNESS SPRINGS HOLDINGS LIMITED (REGISTERED NUMBER: 09751742)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

2. ACCOUNTING POLICIES - continued

Fixed asset investments
The value of listed fixed asset investments is measured at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 May 2022 15,000 387,275 402,275
Revaluations - (4,503 ) (4,503 )
At 30 April 2023 15,000 382,772 397,772
NET BOOK VALUE
At 30 April 2023 15,000 382,772 397,772
At 30 April 2022 15,000 387,275 402,275

Cost or valuation at 30 April 2023 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2021 - 87,425 87,425
Valuation in 2022 - (19,787 ) (19,787 )
Valuation in 2023 - (4,503 ) (4,503 )
Cost 15,000 319,637 334,637
15,000 382,772 397,772

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 319,637 319,637

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 18,498 18,498
Other debtors - 4
18,498 18,502

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 289 -

SKEGNESS SPRINGS HOLDINGS LIMITED (REGISTERED NUMBER: 09751742)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
13,500 Ordinary A shares £1 13,500 13,500
1,500 Ordinary B shares £1 1,500 1,500
15,000 15,000

8. RESERVES
Fair
value
reserve
£   
At 1 May 2022 29,981
Movement (3,378 )

At 30 April 2023 26,603