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Registration number: 12639903

Prepared for the registrar

SPA Holdings (Gloucester) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

SPA Holdings (Gloucester) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

SPA Holdings (Gloucester) Limited

Company Information

Directors

C E Morrison

R H New

T E Morrison

D J New

Company secretary

R H New

Registered office

Centaur House
228 Painswick Road
Gloucester
GL4 4PH

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

SPA Holdings (Gloucester) Limited

(Registration number: 12639903)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1,500,450

1,500,450

Current assets

 

Debtors

5

182

1,949

Cash at bank and in hand

 

14,137

12,452

 

14,319

14,401

Creditors: Amounts falling due within one year

6

-

(500,000)

Net current assets/(liabilities)

 

14,319

(485,599)

Net assets

 

1,514,769

1,014,851

Capital and reserves

 

Called up share capital

450

450

Profit and loss account

1,514,319

1,014,401

Shareholders' funds

 

1,514,769

1,014,851

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 August 2024 and signed on its behalf by:
 


C E Morrison
Director


R H New
Company secretary and director

 

SPA Holdings (Gloucester) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

1

General information

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

The address of its registered office is:
Centaur House
228 Painswick Road
Gloucester
GL4 4PH

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Contingent consideration is included as cost to the extent that payment is probable and the amount of the payment can be measured reliabily; such amounts are adjusted in subsequent years where changes to the amounts estimated arise.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

SPA Holdings (Gloucester) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

 

SPA Holdings (Gloucester) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

4

Investments

2024
£

2023
£

Investments in subsidiaries

1,500,450

1,500,450

Subsidiaries

£

Cost

At 1 April 2023

1,500,450

Provision

Carrying amount

At 31 March 2024

1,500,450

At 31 March 2023

1,500,450

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

SPA Veterinary Services Limited

England

Ordinary shares

100%

100%

Subsidiary undertakings

SPA Veterinary Services Limited

The principal activity of SPA Veterinary Services Limited is the provision of veterinary services.

 

5

Debtors

2024
 £

2023
 £

Other debtors

182

1,949

 

182

1,949

 

SPA Holdings (Gloucester) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

6

Creditors

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

7

-

500,000

2024
£

2023
£

 

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

-

500,000

 

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary B shares of £0.01 each

1

0.01

1

0.01

Ordinary D shares of £0.01 each

15,001

150.01

15,001

150.01

Ordinary F shares of £0.01 each

15,001

150.01

15,001

150.01

Ordinary G shares of £0.01 each

7,501

75.01

7,501

75.01

Ordinary H shares of £0.01 each

7,501

75.01

7,501

75.01

 

45,005

450

45,005

450

The different classes of shares referred to above carry separate rights to dividends, but in all other significant respects rank pari passu, other than the Ordinary B share which has no voting rights and a defined right to participate in a distribution of assets upon a winding up.

 

9

Related party transactions

Summary of transactions with all subsidiaries

SPA Veterinary Services Limited
 At the balance sheet date the company was owed £182 (2023 - £1,949) from SPA Veterinary Services Limited, a subsidiary of the company. This amount is included in other debtors. No interest is charged and there are no fixed repayment terms.