1 April 2023 false Taxfiler 2024.5 10657433business:PrivateLimitedCompanyLtd2023-04-012024-03-31 106574332023-03-31 106574332023-04-012024-03-31 10657433business:AuditExemptWithAccountantsReport2023-04-012024-03-31 10657433business:FilletedAccounts2023-04-012024-03-31 106574332024-03-31 10657433business:Director12023-04-012024-03-31 10657433business:RegisteredOffice2023-04-012024-03-31 106574332023-03-31 10657433core:WithinOneYear2024-03-31 10657433core:WithinOneYear2023-03-31 10657433core:AfterOneYear2024-03-31 10657433core:AfterOneYear2023-03-31 10657433core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 10657433core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 10657433core:RevaluationReservecore:PreviouslyStatedAmount2024-03-31 10657433core:RevaluationReservecore:PreviouslyStatedAmount2023-03-31 10657433core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 10657433core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 10657433core:PreviouslyStatedAmount2024-03-31 10657433core:PreviouslyStatedAmount2023-03-31 10657433business:SmallEntities2023-04-012024-03-31 10657433countries:EnglandWales2023-04-012024-03-31 10657433core:FurnitureFittings2023-04-012024-03-31 10657433core:FurnitureFittings2023-03-31 10657433core:FurnitureFittings2024-03-31 10657433core:MoreThanFiveYears2024-03-31 10657433core:MoreThanFiveYears2023-03-31 10657433core:AfterOneYear2023-04-012024-03-31 106574332022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 10657433 (England and Wales)
Spotty Property Ltd Unaudited accounts for the year ended 31 March 2024
Spotty Property Ltd Unaudited accounts Contents
Page
- 2 -
Spotty Property Ltd Company Information for the year ended 31 March 2024
Director
Christian Newsome
Company Number
10657433 (England and Wales)
Registered Office
10 Hollingwood Gate Ilkley Yorkshire LS29 9PP England
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
- 3 -
Spotty Property Ltd Accountants' report
Accountants' report to the director of Spotty Property Ltd on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Spotty Property Ltd for the year ended 31 March 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Spotty Property Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Spotty Property Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spotty Property Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Spotty Property Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Spotty Property Ltd. You consider that Spotty Property Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Spotty Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 29 July 2024
- 4 -
Spotty Property Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
170,000 
190,000 
Current assets
Debtors
98,400 
99,800 
Cash at bank and in hand
652 
5,800 
99,052 
105,600 
Creditors: amounts falling due within one year
(7,383)
(7,682)
Net current assets
91,669 
97,918 
Total assets less current liabilities
261,669 
287,918 
Creditors: amounts falling due after more than one year
(269,238)
(271,228)
Net (liabilities)/assets
(7,569)
16,690 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
(4,999)
15,001 
Profit and loss account
(2,670)
1,589 
Shareholders' funds
(7,569)
16,690 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 August 2024 and were signed on its behalf by
Christian Newsome Director Company Registration No. 10657433
- 5 -
Spotty Property Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Spotty Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 10657433. The registered office is 10 Hollingwood Gate, Ilkley, Yorkshire, LS29 9PP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. The properties were valued by the Director at the year end.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% on cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 6 -
Spotty Property Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2023
6,572 
At 31 March 2024
6,572 
Depreciation
At 1 April 2023
6,572 
At 31 March 2024
6,572 
Net book value
At 31 March 2024
- 
5
Investment property
2024 
£ 
Fair value at 1 April 2023
190,000 
Net loss from fair value adjustments
(20,000)
At 31 March 2024
170,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
98,400 
99,800 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
3,078 
3,377 
Accruals
4,305 
4,305 
7,383 
7,682 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
119,238 
121,228 
Other creditors
150,000 
150,000 
269,238 
271,228 
Aggregate of amounts that fall due for payment after five years
119,238 
121,228 
The company received a Bounce Back Loan of £10,000 in 2021, which is a 100% UK Government backed loan. Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government. After the first 12 months, an interest rate of 2.5% is applicable. The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
- 7 -
Spotty Property Ltd Notes to the Accounts for the year ended 31 March 2024
9
Transactions with related parties
Included in current assets is a related company loan of £98,400 (2023 - £99,800). The loan is interest-free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
- 8 -