Acorah Software Products - Accounts Production 15.0.500 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 04157730 Miss Laura Wasif Miss HEIDI WASIF Miss CHARMAINE WASIF Mr SAMI WASIF Miss Laura Wasif Eco Investment & Leisure Group Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04157730 2022-10-31 04157730 2023-10-31 04157730 2022-11-01 2023-10-31 04157730 frs-core:CurrentFinancialInstruments 2023-10-31 04157730 frs-core:Non-currentFinancialInstruments 2023-10-31 04157730 frs-core:FurnitureFittings 2023-10-31 04157730 frs-core:FurnitureFittings 2022-11-01 2023-10-31 04157730 frs-core:FurnitureFittings 2022-10-31 04157730 frs-core:MotorVehicles 2023-10-31 04157730 frs-core:MotorVehicles 2022-11-01 2023-10-31 04157730 frs-core:MotorVehicles 2022-10-31 04157730 frs-core:ShareCapital 2023-10-31 04157730 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 04157730 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 04157730 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 04157730 frs-bus:SmallEntities 2022-11-01 2023-10-31 04157730 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 04157730 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 04157730 1 2022-11-01 2023-10-31 04157730 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-10-31 04157730 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31 04157730 frs-bus:Director1 2022-11-01 2023-10-31 04157730 frs-bus:Director2 2022-11-01 2023-10-31 04157730 frs-bus:Director3 2022-11-01 2023-10-31 04157730 frs-bus:Director4 2022-11-01 2023-10-31 04157730 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 04157730 frs-core:CurrentFinancialInstruments 1 2023-10-31 04157730 frs-core:Non-currentFinancialInstruments 1 2023-10-31 04157730 frs-core:CurrentFinancialInstruments 2 2023-10-31 04157730 frs-core:Non-currentFinancialInstruments 2 2023-10-31 04157730 frs-core:CurrentFinancialInstruments 3 2023-10-31 04157730 frs-core:Non-currentFinancialInstruments 3 2023-10-31 04157730 frs-core:CurrentFinancialInstruments 4 2023-10-31 04157730 frs-core:CurrentFinancialInstruments 8 2023-10-31 04157730 frs-countries:EnglandWales 2022-11-01 2023-10-31 04157730 2021-10-31 04157730 2022-10-31 04157730 2021-11-01 2022-10-31 04157730 frs-core:CurrentFinancialInstruments 2022-10-31 04157730 frs-core:Non-currentFinancialInstruments 2022-10-31 04157730 frs-core:ShareCapital 2022-10-31 04157730 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 04157730 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-10-31 04157730 frs-core:CurrentFinancialInstruments 1 2022-10-31 04157730 frs-core:Non-currentFinancialInstruments 1 2022-10-31 04157730 frs-core:CurrentFinancialInstruments 2 2022-10-31 04157730 frs-core:Non-currentFinancialInstruments 2 2022-10-31 04157730 frs-core:CurrentFinancialInstruments 3 2022-10-31 04157730 frs-core:Non-currentFinancialInstruments 3 2022-10-31 04157730 frs-core:CurrentFinancialInstruments 4 2022-10-31 04157730 frs-core:CurrentFinancialInstruments 5 2022-10-31 04157730 frs-core:CurrentFinancialInstruments 8 2022-10-31
Registered number: 04157730
Spiralbuild Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04157730
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,082 9,351
Investment Properties 5 49,079,450 17,500,000
49,087,532 17,509,351
CURRENT ASSETS
Stocks 6 1,222,124 1,222,124
Debtors 7 1,099,781 820,474
Investments 8 3,111,655 1,051,184
Cash at bank and in hand 397,208 394,069
5,830,768 3,487,851
Creditors: Amounts Falling Due Within One Year 9 (351,698 ) (399,365 )
NET CURRENT ASSETS (LIABILITIES) 5,479,070 3,088,486
TOTAL ASSETS LESS CURRENT LIABILITIES 54,566,602 20,597,837
Creditors: Amounts Falling Due After More Than One Year 10 (12,331,915 ) (9,133,821 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,811,886 ) (1,811,886 )
NET ASSETS 40,422,801 9,652,130
CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair Value Reserve 12 41,158,119 9,578,669
Profit and Loss Account (735,418 ) 73,361
SHAREHOLDERS' FUNDS 40,422,801 9,652,130
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr SAMI WASIF
Director
31/10/2023
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Spiralbuild Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04157730 . The registered office is Unit 1, 40-48 Bromells Road, London, SW4 0BG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
Page 3
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 1 November 2022 28,000 53,146 81,146
Additions - 1,426 1,426
As at 31 October 2023 28,000 54,572 82,572
Depreciation
As at 1 November 2022 23,302 48,493 71,795
Provided during the period 1,175 1,520 2,695
As at 31 October 2023 24,477 50,013 74,490
Net Book Value
As at 31 October 2023 3,523 4,559 8,082
As at 1 November 2022 4,698 4,653 9,351
Investment property was valued on an open market basis on 18 October 2023 by an registered valuer.
5. Investment Property
2023
£
Fair Value
As at 1 November 2022 17,500,000
Revaluations 31,579,450
As at 31 October 2023 49,079,450
If investment property had been accounted for under historical cost accounting rule, the amounts would be:
cost:
2023 2022
£ £
Cost 6,061,229 -
6. Stocks
2023 2022
£ £
Materials 1,222,124 1,222,124
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7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 90,000 -
Other debtors 8,207 8,207
Cairo Kitchen Ltd 147,900 147,900
ECO Riverside ltd 44,400 33,000
VAT 54,790 24,088
Amounts owed by group undertakings 673,384 558,979
1,018,681 772,174
Due after more than one year
Baladi Kitchen Ltd 37,400 36,400
Eco Rest & Invstmt Group Ltd 35,400 8,900
Eastside Story Ltd 8,300 3,000
81,100 48,300
1,099,781 820,474
8. Current Asset Investments
2023 2022
£ £
Short term deposits 3,111,655 1,051,184
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 191,966 152,096
Other taxes and social security 2,112 2,149
Other creditors 4,442 4,439
Pensions control account 1,072 1,072
Eco loan (11,238 ) 10,762
Eco West End Ltd 86,764 86,764
Absolutely Starving Ltd 36,000 56,000
Directors' current accounts - 54,836
CHS Development Account 40,580 40,580
Accruals and deferred income - (9,333 )
351,698 399,365
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10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 1-2 years 11,717,599 3,812,383
Bank loans more than 5 yrs non-int 29,660 4,733,618
Directors loan account 584,656 587,820
12,331,915 9,133,821
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 
2023 £28,773.00
2022 £4,733,618
A guarantee was given by directors not to call in their long term loans to the company within twelve
months from the date of signing the accounts.
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
12. Reserves
Fair Value Reserve
£
As at 1 November 2022 9,578,669
Movements in fair value reserve 31,579,450
As at 31 October 2023 41,158,119
13. Related Party Transactions
Transactions with related parties:
Loans due from entities under common and joint control undertakings £122,764 (2022: £196,200)
Loans due to entities under common and joint control undertakings £284,638 (2022: £153,526)
Loans due to key management personnel £584,656 (2022: £642,656)
All loans due to and from related parties are interest free with no fixed repayment terms.
14. Ultimate Controlling Party
The company's ultimate controlling party is Eco Investment & Leisure Group Limited by virtue of his ownership of 100% of the issued share capital in the company.
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