REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
SPABROOK ESCAPES LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
SPABROOK ESCAPES LTD |
SPABROOK ESCAPES LTD (REGISTERED NUMBER: 13111453) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SPABROOK ESCAPES LTD |
COMPANY INFORMATION |
for the Year Ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Bank Gallery |
High Street |
Kenilworth |
Warwickshire |
CV8 1LY |
SPABROOK ESCAPES LTD (REGISTERED NUMBER: 13111453) |
BALANCE SHEET |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings | 9 | ( |
) | ( |
) |
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. |
SPABROOK ESCAPES LTD (REGISTERED NUMBER: 13111453) |
BALANCE SHEET - continued |
31 January 2024 |
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 |
SPABROOK ESCAPES LTD (REGISTERED NUMBER: 13111453) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Spabrook Escapes Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
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. |
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 (2023 - NIL). |
SPABROOK ESCAPES LTD (REGISTERED NUMBER: 13111453) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2023 |
and 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Fair value at 31 January 2024 is represented by: |
£ |
Valuation in 2022 | 600,000 |
Valuation in 2023 | 20,000 |
620,000 |
If Hazel Bank, 2 Brixham Road had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 497,356 | 497,356 |
Hazel Bank, 2 Brixham Road was valued on an open market basis on 28 February 2023 by Savills . |
SPABROOK ESCAPES LTD (REGISTERED NUMBER: 13111453) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to participating interests | 9,133 | 7,026 |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to participating interests | 150,000 | 150,000 |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Debentures more 5yr non-instal |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Debentures |
9. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 February 2023 | ( |
) | 71,037 |
Deficit for the year | ( |
) | ( |
) |
At 31 January 2024 | ( |
) | 61,639 |
10. | RELATED PARTY DISCLOSURES |
At 31 January 2024 other creditors include loans made to the company by its directors amounting to £120,162 (2023 £117,498). The loan has no fixed date for repayment but £109,000 of the loan will not fall due in less than 5 years. No interest has been charged during the year on the £109,000 nor in 2023. |
In addition the directors are also directors and shareholders in Spabrook Limited, a company registered in England. Spabrook Limited made loans to the company during the period and at 31 January 2024 creditors include £159,133 (2023 £157,026). The loan has no fixed date for repayment but £150,000 of the loan will not fall due in less than 5 years. No interest has been charged in the year on the £150,000 nor in 2023. |
SPABROOK ESCAPES LTD (REGISTERED NUMBER: 13111453) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2024 |
11. | CONTROLLING PARTY |
The controlling party is the directors. |