1 March 2022 false No description of principal activity Taxfiler 2023.10 13216727business:PrivateLimitedCompanyLtd2022-03-012023-02-28 132167272022-02-28 132167272022-03-012023-02-28 13216727business:AuditExempt-NoAccountantsReport2022-03-012023-02-28 13216727business:FilletedAccounts2022-03-012023-02-28 132167272023-02-28 13216727business:Director12022-03-012023-02-28 13216727business:RegisteredOffice2022-03-012023-02-28 132167272022-02-28 13216727core:WithinOneYear2023-02-28 13216727core:WithinOneYear2022-02-28 13216727core:AfterOneYear2023-02-28 13216727core:AfterOneYear2022-02-28 13216727core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 13216727core:ShareCapitalcore:PreviouslyStatedAmount2022-02-28 13216727core:InvestmentPropertiesRevaluationReservecore:PreviouslyStatedAmount2023-02-28 13216727core:InvestmentPropertiesRevaluationReservecore:PreviouslyStatedAmount2022-02-28 13216727core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 13216727core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-02-28 13216727core:PreviouslyStatedAmount2023-02-28 13216727core:PreviouslyStatedAmount2022-02-28 13216727business:SmallEntities2022-03-012023-02-28 13216727countries:EnglandWales2022-03-012023-02-28 13216727core:RevaluationInvestmentPropertyDeferredTax2023-02-28 13216727core:RevaluationInvestmentPropertyDeferredTax2022-02-28 132167272021-02-21 132167272021-02-222022-02-28 13216727business:Director112022-03-012023-02-28 13216727business:Director112022-02-28 13216727business:Director112023-02-28 iso4217:GBP xbrli:pure
Company Registration No. 13216727 (England and Wales)
SPOT ON PROPERTY SOLUTIONS LIMITED Unaudited accounts for the year ended 28 February 2023
SPOT ON PROPERTY SOLUTIONS LIMITED Unaudited accounts Contents
Page
- 2 -
SPOT ON PROPERTY SOLUTIONS LIMITED Company Information for the year ended 28 February 2023
Director
Judita Palsyte
Company Number
13216727 (England and Wales)
Registered Office
17 AIDAN CLOSE DAGENHAM RM8 3LE ENGLAND
- 3 -
SPOT ON PROPERTY SOLUTIONS LIMITED Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
371,000 
336,000 
Current assets
Debtors
- 
2,436 
Cash at bank and in hand
138 
394 
138 
2,830 
Creditors: amounts falling due within one year
(128,821)
(125,509)
Net current liabilities
(128,683)
(122,679)
Total assets less current liabilities
242,317 
213,321 
Creditors: amounts falling due after more than one year
(224,495)
(214,495)
Provisions for liabilities
Deferred tax
(6,448)
(448)
Net assets/(liabilities)
11,374 
(1,622)
Capital and reserves
Called up share capital
1 
1 
Fair value reserve
19,345 
1,345 
Profit and loss account
(7,972)
(2,968)
Shareholders' funds
11,374 
(1,622)
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 November 2023 and were signed on its behalf by
Judita Palsyte Director Company Registration No. 13216727
- 4 -
SPOT ON PROPERTY SOLUTIONS LIMITED Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
SPOT ON PROPERTY SOLUTIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13216727. The registered office is 17 AIDAN CLOSE, DAGENHAM, RM8 3LE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Investment property
2023 
£ 
Fair value at 1 March 2022
336,000 
Additions
11,000 
Net gain from fair value adjustments
24,000 
At 28 February 2023
371,000 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
2,436 
- 5 -
SPOT ON PROPERTY SOLUTIONS LIMITED Notes to the Accounts for the year ended 28 February 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Loans from directors
127,821 
125,109 
Accruals
1,000 
400 
128,821 
125,509 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
214,495 
214,495 
Other creditors
10,000 
- 
224,495 
214,495 
8
Deferred taxation
2023 
2022 
£ 
£ 
Revaluation of investment property
6,448 
448 
2023 
2022 
£ 
£ 
Provision at start of year
448 
- 
Charged to the profit and loss account
6,000 
448 
Provision at end of year
6,448 
448 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Judita Palsyte
At the YE 28.02.23 company owes director
(125,109)
- 
2,712 
(127,821)
(125,109)
- 
2,712 
(127,821)
Loan is interest free and repayable on demand
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).
- 6 -