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REGISTERED NUMBER: 04321126 (England and Wales)















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: Mr J A Shaw



SECRETARY: Mrs D Shaw



REGISTERED OFFICE: Unit 4
James Nasmyth Way
Eccles
Manchester
M30 0SF



REGISTERED NUMBER: 04321126 (England and Wales)



ACCOUNTANTS: BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF



BANKERS: Bank of Scotland
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 22,149 29,466
Investments 5 227,871 160,330
Investment property 6 5,625,324 4,488,991
5,875,344 4,678,787

CURRENT ASSETS
Debtors 7 4,499 3,153
Cash at bank 815,030 393,348
819,529 396,501
CREDITORS
Amounts falling due within one year 8 1,000,712 1,026,103
NET CURRENT LIABILITIES (181,183 ) (629,602 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,694,161

4,049,185

CREDITORS
Amounts falling due after more than one
year

9

(3,603,280

)

(3,471,580

)

PROVISIONS FOR LIABILITIES (227,841 ) -
NET ASSETS 1,863,040 577,605

CAPITAL AND RESERVES
Called up share capital 11 4 2
Revaluation reserve 12 1,003,793 -
Retained earnings 859,243 577,603
SHAREHOLDERS' FUNDS 1,863,040 577,605

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

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 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 director and authorised for issue on 30 August 2024 and were signed by:





Mr J A Shaw - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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 4 (2022 - 4 ) .

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 809 51,500 52,309
DEPRECIATION
At 1 December 2022 312 22,531 22,843
Charge for year 75 7,242 7,317
At 30 November 2023 387 29,773 30,160
NET BOOK VALUE
At 30 November 2023 422 21,727 22,149
At 30 November 2022 497 28,969 29,466

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 December 2022 - 160,330 160,330
Additions 2 68,627 68,629
Revaluations - (1,088 ) (1,088 )
At 30 November 2023 2 227,869 227,871
NET BOOK VALUE
At 30 November 2023 2 227,869 227,871
At 30 November 2022 - 160,330 160,330

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 4,488,991
Additions 381,324
Disposals (477,713 )
Revaluations 1,232,722
At 30 November 2023 5,625,324
NET BOOK VALUE
At 30 November 2023 5,625,324
At 30 November 2022 4,488,991

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 3,526 3,083
Other debtors 973 70
4,499 3,153

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 29,427 37,837
Trade creditors 114 1,800
Taxation and social security 58,675 38,385
Other creditors 912,496 948,081
1,000,712 1,026,103

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 1,269,166 1,137,466
Other creditors 2,334,114 2,334,114
3,603,280 3,471,580

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 1,298,593 1,175,303

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: £    £   
444 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 1,003,793

13. CONTROLLING PARTY

The controlling party is Mr J A Shaw.

Mr Jason Shaw is the managing director and a shareholder.