Company Registration No. 09216384 (England and Wales)
Spetchley Gardens Enterprises Limited
Unaudited financial statements
for the year ended 31 March 2023
Pages for filing with the registrar
Spetchley Gardens Enterprises Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Spetchley Gardens Enterprises Limited
Statement of financial position
As at 31 March 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
-
0
106
Cash at bank and in hand
-
0
53
-
0
159
Creditors: amounts falling due within one year
4
(1,850)
(488)
Net current liabilities
(1,850)
(329)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(1,851)
(330)
Total equity
(1,850)
(329)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 9 October 2023 and are signed on its behalf by:
Michelle Boliver
Director
Company Registration No. 09216384
Spetchley Gardens Enterprises Limited
Notes to the financial statements
For the year ended 31 March 2023
Page 2
1
Accounting policies
Company information

Spetchley Gardens Enterprises Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Estate Office, Berkeley Castle, Berkeley, Gloucestershire, GL13 9BQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

Spetchley Gardens Enterprises Limited is a wholly owned subsidiary of Spetchley Gardens Charitable Trust and the results of Spetchley Gardens Enterprises Limited are included in the consolidated financial statements of Spetchley Gardens Charitable Trust which are available from The Estate Office, Berkeley Castle, Berkeley, Gloucestershire, GL13 9BQ.

1.2
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Spetchley Gardens Enterprises Limited
Notes to the financial statements (continued)
For the year ended 31 March 2023
1
Accounting policies (continued)
Page 3
Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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. Amounts 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.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
Spetchley Gardens Enterprises Limited
Notes to the financial statements (continued)
For the year ended 31 March 2023
Page 4
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
106
4
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
1,335
488
Other creditors
515
-
0
1,850
488
5
Related party transactions

At the year end the company owed £1,335 (2022: £488) to Spetchley Gardens Charitable Trust, the ultimate controlling party.

6
Parent company

The company is controlled by the trustees of the Spetchley Gardens Charitable Trust, who own the entire share capital.

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