Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-014falseThe principal activity of the company continued to be that of property dealing, letting and development.4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01025509 2022-04-01 2023-03-31 01025509 2021-04-01 2022-03-31 01025509 2023-03-31 01025509 2022-03-31 01025509 c:Director1 2022-04-01 2023-03-31 01025509 d:FurnitureFittings 2022-04-01 2023-03-31 01025509 d:FurnitureFittings 2023-03-31 01025509 d:FurnitureFittings 2022-03-31 01025509 d:CurrentFinancialInstruments 2023-03-31 01025509 d:CurrentFinancialInstruments 2022-03-31 01025509 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01025509 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 01025509 d:ShareCapital 2023-03-31 01025509 d:ShareCapital 2022-03-31 01025509 d:RetainedEarningsAccumulatedLosses 2023-03-31 01025509 d:RetainedEarningsAccumulatedLosses 2022-03-31 01025509 c:FRS102 2022-04-01 2023-03-31 01025509 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01025509 c:FullAccounts 2022-04-01 2023-03-31 01025509 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01025509 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 01025509










SPANDRIL DEVELOPMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
SPANDRIL DEVELOPMENTS LIMITED
REGISTERED NUMBER: 01025509

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 5 
154,153
154,153

Debtors: amounts falling due within one year
 6 
184,144
134,144

Cash at bank and in hand
 7 
5,265
21,961

  
343,562
310,258

Creditors: amounts falling due within one year
 8 
(151,831)
(178,706)

Net current assets
  
 
 
191,731
 
 
131,552

Total assets less current liabilities
  
191,731
131,552

  

Net assets
  
191,731
131,552


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
191,631
131,452

  
191,731
131,552


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 November 2023.



H J Sage
Director

Page 1

 
SPANDRIL DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Spandril Developments Limited is a private company limited by share capital, incorporated in England and Wales, registration number 01025509. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover represents amounts receivable from rental income. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Rental income is recognised in the period it relates to. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
SPANDRIL DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stock of properties are valued at the lower of cost or net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the purchase price of the property and cost to develop the property.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an
Page 3

 
SPANDRIL DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

impairment loss is recognised in the Profit and loss account.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2022
2,669



At 31 March 2023

2,669



Depreciation


At 1 April 2022
2,669



At 31 March 2023

2,669



Net book value



At 31 March 2023
-



At 31 March 2022
-


5.


Stocks

2023
2022
£
£

Properties for resale
154,153
154,153


Page 4

 
SPANDRIL DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
184,144
134,144



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
5,265
21,961



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
57,000
57,000

Corporation tax
-
3,117

Other taxation and social security
1,994
2,052

Other creditors
87,120
87,120

Accruals and deferred income
5,717
29,417

151,831
178,706



9.


Related party transactions

The company has taken advantage of the exemption available in Financial Reporting Standard 102, whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
Included in other creditors is a loan of £80,850 (2022: £80,850) due to a company controlled by a connected party.

 
Page 5