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REGISTERED NUMBER: 05859384 (England and Wales)












SPC DEVELOPMENTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






SPC DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05859384)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPC DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: P R Clarke
S Clarke





SECRETARY: Mrs K Clarke





REGISTERED OFFICE: The Workshop Slippery Gowt Lane
Wyberton
Boston
Lincolnshire
PE21 7AA





REGISTERED NUMBER: 05859384 (England and Wales)





AUDITORS: Dexter & Sharpe Audit Services Ltd
(Statutory Auditor)
Rollestone House
Bridge Street
Horncastle
Lincolnshire
LN9 5HZ

SPC DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05859384)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 1,239,375 1,464,648
Debtors 3 299 51,495
Cash at bank 8,564 13,471
1,248,238 1,529,614
CREDITORS
Amounts falling due within one year 4 902,843 1,186,107
NET CURRENT ASSETS 345,395 343,507
TOTAL ASSETS LESS CURRENT
LIABILITIES

345,395

343,507

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 345,293 343,405
345,395 343,507

SPC DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05859384)

BALANCE SHEET - continued
30 NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:




P R Clarke - Director



S Clarke - Director


SPC DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05859384)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue is recognised on the sale of land and houses when the risks and rewards of the underlying sale have been substantially transferred to the customer, which is upon the exchange of contracts.

Stocks
Work in progress is valued at the lower of cost and selling price less estimated costs to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 50,910
Other debtors 299 585
299 51,495

SPC DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05859384)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 428,884
Amounts owed to group undertakings 900,000 630,000
Taxation and social security 443 69,823
Other creditors 2,400 57,400
902,843 1,186,107

5. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mrs Nicola Michelle Lenton FCCA (Senior Statutory Auditor)
for and on behalf of Dexter & Sharpe Audit Services Ltd

6. ULTIMATE CONTROLLING PARTY

The controlling party is S & P Clarke Holdings Limited, a company incorporated and registered in England and Wales. The registered office and principal place of business is:

The Workshop
Slippery Gowt Lane
Wyberton
Boston
Lincolnshire
PE21 7AA