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COMPANY REGISTRATION NUMBER: 04938696
Spectrum Property Group Ltd
Filleted Financial Statements
31 December 2023
Spectrum Property Group Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Current assets
Cash at bank and in hand
494
826
Creditors: amounts falling due within one year
5
3,380
3,380
-------
-------
Net current liabilities
2,886
2,554
-------
-------
Total assets less current liabilities
( 2,886)
( 2,554)
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 2,887)
( 2,555)
-------
-------
Shareholders deficit
( 2,886)
( 2,554)
-------
-------
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 income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 26 July 2024 , and are signed on behalf of the board by:
Mr J Murphy
Mr P Dempsey
Director
Director
Company registration number: 04938696
Spectrum Property Group Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Eden Square East, Unit 2, 7 Hatton Garden, Liverpool, L3 4FP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements are prepared on a basis other than going concern, under the historical cost convention, and comply with the financial reporting standards of the Financial Reporting Council and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.
Cash and cash equivalents
Cash and equivalents include cash on hand and demand deposits.
Creditors and accruals
Creditors and accruals are classified as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities. Trade payables are recognised initially at the transition price and subsequently at amortised cost.
Share capital
Ordinary shares are classified as equity.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to nil (2022: nil).
5. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
3,380
3,380
-------
-------
Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
6. Summary audit opinion
The auditor's report for the year dated 29 July 2024 was unqualified .
The senior statutory auditor was Ms. Kate Crossan , for and on behalf of Lenfestey & Co .
7. Related party transactions
In accordance with FRS 102 the company as a wholly owned subsidiary has elected not to disclose related party transactions with subsidiary companies within the group.
8. Ethical standards
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
9. Controlling party
The company is a wholly owned subsidiary of Prem Group (UK) Ltd . The company's ultimate parent undertaking is FRO III Cedar Holdings LP , a Cayman Islands Limited Partnership with a registered office at Maples Corporate Services Limited, P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. The parent of the smallest group in which the results are consolidated is Arago Investments Ltd , a company registered in Ireland with a registered office address at 12 Lower Hatch Street, Dublin 2, 2, D02R682, Ireland .