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Registration number: 00432894

Report of the Director and


Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

for
 

Sporik Patisseries Limited

 

Sporik Patisseries Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Sporik Patisseries Limited

Company Information

Directors:

F S G Sporik

M L Sporik

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

00432894

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Sporik Patisseries Limited

(Registration number: 00432894)
Balance Sheet as at 31 December 2023

Note

31.12.23

31.12.22

   

£

£

£

£

FIXED ASSETS

   

 

Investment property

4

 

1,626,868

 

1,626,868

CURRENT ASSETS

   

 

Debtors

5

4,657

 

4,577

 

Cash at bank and in hand

 

316,594

 

283,413

 

 

321,251

 

287,990

 

CREDITORS

   

 

Creditors within 1yr

6

39,309

 

37,673

 

Net current assets

   

281,942

 

250,317

Total assets less current liabilities

   

1,908,810

 

1,877,185

PROVISIONS FOR LIABILITIES

 

(72,736)

 

(194,346)

Net assets

   

1,836,074

 

1,682,839

CAPITAL AND RESERVES

   

 

Called up share capital

 

100

 

100

Revaluation reserve

 

1,360,460

 

1,265,233

Other reserves

 

1,043

 

1,043

Profit and loss account

 

474,471

 

416,463

Shareholders' funds

   

1,836,074

 

1,682,839

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Sporik Patisseries Limited

(Registration number: 00432894)
Balance Sheet as at 31 December 2023 (continued)

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 August 2024

.........................................
F S G Sporik
Director

 

Sporik Patisseries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1.

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the Board on 7 August 2024.

2.

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
 

 

Sporik Patisseries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3.

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4.

Investment properties

31.12.23
£

At 1 January 2023

1,626,868

At 31 December 2023

1,626,868

The properties were revalued at the year end on an open market basis by the director and fair value is represented by cost of £193,671 plus revaluation surplus of £1,433,197 giving a total £1,626,868.

 

Sporik Patisseries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5.

Debtors

Current

31.12.23
£

31.12.22
£

Prepayments

1,456

1,376

Other debtors

3,201

3,201

 

4,657

4,577

6.

Creditors

Creditors: amounts falling due within one year

31.12.23
£

31.12.22
£

Due within one year

Taxation and social security

14,529

11,253

Accruals and deferred income

2,916

2,400

Other creditors

21,864

24,020

39,309

37,673

7.

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Property
Reserve
£

At 1 January 2023

1,265,233

Movement in the year

95,227

At 31 December 2023

1,360,460

The property reserve is non-distributable.

 

Sporik Patisseries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

8.

Provisions for liabilities

Deferred tax
£

At 1 January 2023

194,346

Additional provisions

(121,610)

At 31 December 2023

72,736