REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
SPENSON PROPERTIES LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
SPENSON PROPERTIES LTD |
SPENSON PROPERTIES LTD (REGISTERED NUMBER: 04321126) |
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 |
SPENSON PROPERTIES LTD |
Company Information |
for the Year Ended 30 November 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Century Buildings |
14 St Mary's Parsonage |
Manchester |
M3 2DF |
BANKERS: |
P O Box 1000 |
BX2 1LB |
SPENSON PROPERTIES LTD (REGISTERED NUMBER: 04321126) |
Balance Sheet |
30 November 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Revaluation reserve | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
SPENSON PROPERTIES LTD (REGISTERED NUMBER: 04321126) |
Balance Sheet - continued |
30 November 2023 |
The financial statements were approved by the director and authorised for issue on |
SPENSON PROPERTIES LTD (REGISTERED NUMBER: 04321126) |
Notes to the Financial Statements |
for the Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
Spenson Properties Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental income and recharged costs invoiced during the year, other than where a proportion of this relates to a period after the year end, in which case this proportion is instead credited to a creditor account in the balance sheet. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Tangible fixed assets are initially recorded at cost. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment properties are capitalised at their purchase price plus associated legal and professional costs. All of the properties are shown in the balance sheet are stated at their most recent valuation. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
SPENSON PROPERTIES LTD (REGISTERED NUMBER: 04321126) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 December 2022 |
and 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 December 2022 | 160,330 |
Additions | 68,629 |
Revaluations | ( |
) | (1,088 | ) |
At 30 November 2023 | 227,871 |
NET BOOK VALUE |
At 30 November 2023 | 227,871 |
At 30 November 2022 | 160,330 |
Cost or valuation at 30 November 2023 is represented by: |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2023 | - | (1,088 | ) | (1,088 | ) |
Cost | 2 | 228,957 | 228,959 |
2 | 227,869 | 227,871 |
SPENSON PROPERTIES LTD (REGISTERED NUMBER: 04321126) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 December 2022 |
Additions |
Disposals | ( |
) |
Revaluations |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
The investment properties were re-valued during the year by a local valuer. |
Cost or valuation at 30 November 2023 is represented by: |
£ |
Valuation in 2023 | 1,232,722 |
Cost | 4,392,602 |
5,625,324 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,151,459 | 986,118 |
SPENSON PROPERTIES LTD (REGISTERED NUMBER: 04321126) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans |
The bank loan liabilities falling due for repayment both within and after more than one year are mortgage loans secured on the investment properties to which they relate. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.23 | 30.11.22 |
value: | £ | £ |
Ordinary shares | 0.01 | 4 | 2 |
During the year the existing 2 ordinary shares of £1 each were sub-divided to become 200 ordinary shares of £0.01 each. |
On 5th October 2023, the company allotted an additional 244 ordinary shares of £0.01each in exchange for 2 ordinary shares in Starley Properties Limited (an Isle of Man registered company, Company number 098509C) |
12. | RESERVES |
Revaluation |
reserve |
£ |
revaluation reserve | 1,003,793 |
At 30 November 2023 |
13. | CONTROLLING PARTY |
The controlling party is Mr J A Shaw. |
Mr Jason Shaw is the managing director and a shareholder. |