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REGISTERED NUMBER: 03349460















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Spenpost Limited

Spenpost Limited (Registered number: 03349460)






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


Spenpost Limited

Company Information
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: A E Michaels
A Michaels
J Donner
A M Addison
K J Addison





SECRETARY: J Donner





REGISTERED OFFICE: 8 Wareing Lane
Denton
Northamptonshire
NN7 1DS





REGISTERED NUMBER: 03349460





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

Spenpost Limited (Registered number: 03349460)

Balance Sheet
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,020 1,360
Investment property 5 1,200,000 713,585
1,201,020 714,945

CURRENT ASSETS
Debtors 6 1,412 454
Cash at bank 51,130 64,388
52,542 64,842
CREDITORS
Amounts falling due within one year 7 1,713 2,937
NET CURRENT ASSETS 50,829 61,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,251,849

776,850

CREDITORS
Amounts falling due after more than one year 8 (336,562 ) (336,528 )

PROVISIONS FOR LIABILITIES (216,715 ) (32,308 )
NET ASSETS 698,572 408,014

CAPITAL AND RESERVES
Called up share capital 940 940
Capital redemption reserve 60 60
Retained earnings 697,572 407,014
SHAREHOLDERS' FUNDS 698,572 408,014

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.

Spenpost Limited (Registered number: 03349460)

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 22 November 2023 and were signed on its behalf by:





A E Michaels - Director


Spenpost Limited (Registered number: 03349460)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Spenpost Limited is a private company, limited by shares , registered in Not specified/Other. 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.
Plant and machinery etc - 3 years, 25% on cost and 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Spenpost Limited (Registered number: 03349460)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision 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.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs 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 a 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 and loans from related companies 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 costs, 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.

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.


Spenpost Limited (Registered number: 03349460)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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 NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 24,299
DEPRECIATION
At 1 April 2022 22,939
Charge for year 340
At 31 March 2023 23,279
NET BOOK VALUE
At 31 March 2023 1,020
At 31 March 2022 1,360

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 713,585
Revaluations 486,415
At 31 March 2023 1,200,000
NET BOOK VALUE
At 31 March 2023 1,200,000
At 31 March 2022 713,585

Spenpost Limited (Registered number: 03349460)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2016 398,680
Valuation in 2018 75,000
Valuation in 2019 25,000
Valuation in 2021 13,580
Valuation in 2023 486,420
Cost 201,320
1,200,000

The revaluation was carried out by the directors on an open market, existing use basis.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,412 454

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security - 1,640
Other creditors 1,713 1,297
1,713 2,937

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 336,562 336,528

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 336,562 336,528

Spenpost Limited (Registered number: 03349460)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgages 336,562 336,528

There are thirteen charges registered at Companies House which are secured against the properties owned by the Company.