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REGISTERED NUMBER: 11352505 (England and Wales)











Financial Statements

for the Year Ended 31 May 2023

for

SPS PROPERTIES LIMITED

SPS PROPERTIES LIMITED (REGISTERED NUMBER: 11352505)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPS PROPERTIES LIMITED

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Miss S Shah
Mr M Patel
Ms C Sexty





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 11352505 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

SPS PROPERTIES LIMITED (REGISTERED NUMBER: 11352505)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 649 -
Investment property 5 1,332,491 1,025,001
1,333,140 1,025,001

CURRENT ASSETS
Debtors 6 4 4
Cash at bank 12,367 4,698
12,371 4,702
CREDITORS
Amounts falling due within one year 7 169,073 82,608
NET CURRENT LIABILITIES (156,702 ) (77,906 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,176,438

947,095

CREDITORS
Amounts falling due after more than one year 8 (991,458 ) (766,663 )

PROVISIONS FOR LIABILITIES (49,752 ) (39,899 )
NET ASSETS 135,228 140,533

CAPITAL AND RESERVES
Called up share capital 10 4 4
Fair value reserve 158,457 158,457
Retained earnings (23,233 ) (17,928 )
SHAREHOLDERS' FUNDS 135,228 140,533

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

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

SPS PROPERTIES LIMITED (REGISTERED NUMBER: 11352505)

Balance Sheet - continued
31 May 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 12 February 2024 and were signed on its behalf by:




Miss S Shah - Director



Mr M Patel - Director


SPS PROPERTIES LIMITED (REGISTERED NUMBER: 11352505)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

SPS Properties Limited 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. 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 799
At 31 May 2023 799
DEPRECIATION
Charge for year 150
At 31 May 2023 150
NET BOOK VALUE
At 31 May 2023 649

SPS PROPERTIES LIMITED (REGISTERED NUMBER: 11352505)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 1,025,001
Additions 307,490
At 31 May 2023 1,332,491
NET BOOK VALUE
At 31 May 2023 1,332,491
At 31 May 2022 1,025,001

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2020 121,120
Valuation in 2021 77,236
Cost 1,134,135
1,332,491

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 4 4

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Social security and other taxes 748 610
Other creditors 159,020 75,029
Directors' current accounts 5,908 4,614
Accrued expenses 3,397 2,355
169,073 82,608

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans more 5 yr by instal 991,458 766,663

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 991,458 766,663

SPS PROPERTIES LIMITED (REGISTERED NUMBER: 11352505)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 991,458 766,663

Bank loans are secured against the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
1 C Ordinary £1 1 1
1 D Ordinary £1 1 1
4 4

11. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed an amount of £5,907 (2022: £4,641) to the directors. The amount is interest free and repayable on demand.