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REGISTERED NUMBER: 14920335 (England and Wales)












Unaudited Financial Statements

for the Period 7 June 2023 to 31 December 2023

for

Spring Lodges 1 Ltd

Spring Lodges 1 Ltd (Registered number: 14920335)

Contents of the Financial Statements
for the Period 7 June 2023 to 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spring Lodges 1 Ltd

Company Information
for the Period 7 June 2023 to 31 December 2023







DIRECTORS: Mr W B Barroll Brown
Mr E C Copelin
Mr J R McCaffrey
Mr G L Petersen





REGISTERED OFFICE: 69 High Street
Bideford
Devon
EX39 2AT





REGISTERED NUMBER: 14920335 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Spring Lodges 1 Ltd (Registered number: 14920335)

Balance Sheet
31 December 2023

Notes £    £   
FIXED ASSETS
Intangible assets 5 48,333
Tangible assets 6 2,448,786
2,497,119

CURRENT ASSETS
Stocks 7,500
Debtors 7 180,871
Cash at bank 35,816
224,187
CREDITORS
Amounts falling due within one year 8 18,581
NET CURRENT ASSETS 205,606
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,702,725

CAPITAL AND RESERVES
Called up share capital 9 1,101
Share premium 2,785,785
Retained earnings (84,161 )
SHAREHOLDERS' FUNDS 2,702,725

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

Spring Lodges 1 Ltd (Registered number: 14920335)

Balance Sheet - continued
31 December 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2024 and were signed on its behalf by:




Mr W B Barroll Brown - Director



Mr E C Copelin - Director


Spring Lodges 1 Ltd (Registered number: 14920335)

Notes to the Financial Statements
for the Period 7 June 2023 to 31 December 2023


1. STATUTORY INFORMATION

Spring Lodges 1 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill representing the excess of the purchase price over the fair value of the net assets of undertakings acquired is capitalised in the balance sheet and is amortised by equal annual instalments over the expected useful economic life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line, 1% straight line and nil on land
Fixtures and fittings - 25% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Taxation
Taxation for the period 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.

Spring Lodges 1 Ltd (Registered number: 14920335)

Notes to the Financial Statements - continued
for the Period 7 June 2023 to 31 December 2023


3. 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company has retained losses of £84,161. The company cannot continue to make losses of this significance while still meeting its obligations as they fall due.

The company is reliant on the continuing financial support of its creditors and while there are no reasons to doubt that this support will continue, inherently there can be no certainty in relation to these matters. On this basis, and having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from an inability to meet obligations as they fall due.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 50,000
At 31 December 2023 50,000
AMORTISATION
Amortisation for period 1,667
At 31 December 2023 1,667
NET BOOK VALUE
At 31 December 2023 48,333

Spring Lodges 1 Ltd (Registered number: 14920335)

Notes to the Financial Statements - continued
for the Period 7 June 2023 to 31 December 2023


6. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
Additions 2,379,447 87,375 2,466,822
At 31 December 2023 2,379,447 87,375 2,466,822
DEPRECIATION
Charge for period 10,755 7,281 18,036
At 31 December 2023 10,755 7,281 18,036
NET BOOK VALUE
At 31 December 2023 2,368,692 80,094 2,448,786


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 180,871

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 10,016
Taxation and social security 3,353
Other creditors 5,212
18,581

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1,000 A £1 1,000

Allotted and issued:
Number: Class: Nominal
value: £   
1 B £1 1
100 C £1 100
101

Spring Lodges 1 Ltd (Registered number: 14920335)

Notes to the Financial Statements - continued
for the Period 7 June 2023 to 31 December 2023


9. CALLED UP SHARE CAPITAL - continued

During the period the company issued 1 Ordinary share of £1 at par, 1,000 A shares of £1 for a consideration of £2,330,216 and 100 C shares of £1 for a consideration of £456,669.

The 1 Ordinary share of £1 was reclassified during the period as 1 B share of £1 with all attached rights unchanged.

10. OTHER FINANCIAL COMMITMENTS

During the period the company has entered into a commitment for works to property of £147,807.

11. CONTROLLING PARTY

The controlling party is Rose Hill UK 1, LLC.