0 30/06/2023 2023-06-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-07-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04461352 2022-07-01 2023-06-30 04461352 2023-06-30 04461352 2022-06-30 04461352 bus:Director1 2022-07-01 2023-06-30 04461352 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 04461352 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 04461352 core:WithinOneYear 2023-06-30 04461352 core:WithinOneYear 2022-06-30 04461352 core:AfterOneYear 2023-06-30 04461352 core:AfterOneYear 2022-06-30 04461352 core:ShareCapital 2023-06-30 04461352 core:ShareCapital 2022-06-30 04461352 core:RevaluationReserve 2023-06-30 04461352 core:RevaluationReserve 2022-06-30 04461352 core:RetainedEarningsAccumulatedLosses 2023-06-30 04461352 core:RetainedEarningsAccumulatedLosses 2022-06-30 04461352 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-30 04461352 core:LandBuildings core:LongLeaseholdAssets 2022-06-30 04461352 bus:SmallEntities 2022-07-01 2023-06-30 04461352 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 04461352 bus:FullAccounts 2022-07-01 2023-06-30 04461352 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 04461352 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04461352 1 2022-07-01 2023-06-30
Company registration number: 04461352
SPRINGVALE ESTATES LIMITED
Unaudited filleted financial statements
30 June 2023
SPRINGVALE ESTATES LIMITED
Contents
Statement of financial position
Notes to the financial statements
SPRINGVALE ESTATES LIMITED
Statement of financial position
30 June 2023
2023 2022
Note £ £ £ £
Fixed assets
Investment properties 4 620,000 620,000
_______ _______
620,000 620,000
Current assets
Debtors 5 11,836 9,067
Cash at bank 169,622 214,135
_______ _______
181,458 223,202
Creditors: amounts falling due
within one year 6 ( 47,058) ( 123,536)
_______ _______
Net current assets 134,400 99,666
_______ _______
Total assets less current liabilities 754,400 719,666
Creditors: amounts falling due
after more than one year 7 ( 203,861) ( 203,861)
_______ _______
Net assets 550,539 515,805
_______ _______
Capital and reserves
Called up share capital 2 2
Fair value reserve ( 52,223) ( 52,223)
Profit and loss account 602,760 568,026
_______ _______
Shareholders funds 550,539 515,805
_______ _______
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 January 2024 , and are signed on behalf of the board by:
Alan Usiskin
Director
Company registration number: 04461352
SPRINGVALE ESTATES LIMITED
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 60 Wolmer Gardens, Edgware, Middlesex, HA8 8QD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total invoice value, excluding value added tax, of rent and service charges receivable by the company during the year.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, which includes purchase price and any directly attributable expenditure. Subsequently, investment properties are revalued to their fair value at each reporting date and any changes in fair value are recognised in profit or loss. Deferred tax is provided on theserevaluations.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from directors.Debt instruments that are receivable or payable within one year, such as trade receivables andpayables are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be received or paid .
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Investment properties
Freehold properties Long leasehold property Total
£ £ £
Cost
At 1 July 2022 and 30 June 2023 525,000 95,000 620,000
_______ _______ _______
Depreciation
At 1 July 2022 and 30 June 2023 - - -
_______ _______ _______
Carrying amount
At 30 June 2023 525,000 95,000 620,000
_______ _______ _______
At 30 June 2022 525,000 95,000 620,000
_______ _______ _______
5. Debtors
2023 2022
£ £
Trade debtors 11,836 9,067
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 8,147 8,287
Social security and other taxes 744 802
Other creditors 38,167 114,447
_______ _______
47,058 123,536
_______ _______
7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 203,861 203,861
_______ _______
8. Controlling party
The directors have a controlling interest in the company.