REGISTERED NUMBER: |
Financial Statements for the Year Ended 27 September 2023 |
for |
Spring Blossom Developments Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 27 September 2023 |
for |
Spring Blossom Developments Limited |
Spring Blossom Developments Limited (Registered number: 05922702) |
Contents of the Financial Statements |
for the Year Ended 27 September 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Spring Blossom Developments Limited |
Company Information |
for the Year Ended 27 September 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Spring Blossom Developments Limited (Registered number: 05922702) |
Abridged Balance Sheet |
27 September 2023 |
27.9.23 | 27.9.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 Blossom Developments Limited (Registered number: 05922702) |
Abridged Balance Sheet - continued |
27 September 2023 |
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 |
Spring Blossom Developments Limited (Registered number: 05922702) |
Notes to the Financial Statements |
for the Year Ended 27 September 2023 |
1. | STATUTORY INFORMATION |
Spring Blossom Developments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
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. |
The most recent valuation is what the director considers reflects the current market value of the property. At 27th September 2023 this is equal to cost. |
No depreciation has been provided in respect of the freehold property held as an investment. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The property is held for investment and not for consumption and the director considers that to depreciate it would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The director considers that this policy results in the financial statements giving a true and fair view. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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. |
Spring Blossom Developments Limited (Registered number: 05922702) |
Notes to the Financial Statements - continued |
for the Year Ended 27 September 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 |
Totals |
£ |
COST |
At 28 September 2022 |
Additions |
At 27 September 2023 |
DEPRECIATION |
At 28 September 2022 |
Charge for year |
At 27 September 2023 |
NET BOOK VALUE |
At 27 September 2023 |
At 27 September 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 28 September 2022 |
and 27 September 2023 |
DEPRECIATION |
At 28 September 2022 |
and 27 September 2023 | 122,448 |
NET BOOK VALUE |
At 27 September 2023 |
At 27 September 2022 |
Spring Blossom Developments Limited (Registered number: 05922702) |
Notes to the Financial Statements - continued |
for the Year Ended 27 September 2023 |
5. | INVESTMENT PROPERTY - continued |
The investment property has been valued by the director to reflect the current market value of the property. At 27th September 2023 this is equal to cost. |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 27.9.23 | 27.9.22 |
value: | £ | £ |
Ordinary | £1 | 12 | 12 |
7. | ULTIMATE CONTROLLING PARTY |
Mr Michael and Mrs Josephine Kelly are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company. |