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REGISTERED NUMBER: 11245055 (England and Wales)















SPECIALIST PROPERTY ASSET MANAGEMENT LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






SPECIALIST PROPERTY ASSET MANAGEMENT LTD (REGISTERED NUMBER: 11245055)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPECIALIST PROPERTY ASSET MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A J Sinnett
J H Sinnett





REGISTERED OFFICE: Homer House
8, Homer Road
Solihull
West Midlands
B91 3QQ





REGISTERED NUMBER: 11245055 (England and Wales)





ACCOUNTANTS: Sephton & Company LLP
Chartered Certified Accountants
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

SPECIALIST PROPERTY ASSET MANAGEMENT LTD (REGISTERED NUMBER: 11245055)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,428 19,060

CURRENT ASSETS
Debtors 5 119,200 65,586
Cash at bank and in hand 399,305 361,156
518,505 426,742
CREDITORS
Amounts falling due within one year 6 421,373 333,900
NET CURRENT ASSETS 97,132 92,842
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,560

111,902

PROVISIONS FOR LIABILITIES 263 -
NET ASSETS 110,297 111,902

CAPITAL AND RESERVES
Called up share capital 999 999
Retained earnings 109,298 110,903
SHAREHOLDERS' FUNDS 110,297 111,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SPECIALIST PROPERTY ASSET MANAGEMENT LTD (REGISTERED NUMBER: 11245055)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 July 2024 and were signed on its behalf by:





A J Sinnett - Director


SPECIALIST PROPERTY ASSET MANAGEMENT LTD (REGISTERED NUMBER: 11245055)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Specialist Property Asset Management 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

SPECIALIST PROPERTY ASSET MANAGEMENT LTD (REGISTERED NUMBER: 11245055)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 14,905 41,611 56,516
Additions - 2,026 2,026
At 31 March 2024 14,905 43,637 58,542
DEPRECIATION
At 1 April 2023 6,520 30,936 37,456
Charge for year 2,096 5,562 7,658
At 31 March 2024 8,616 36,498 45,114
NET BOOK VALUE
At 31 March 2024 6,289 7,139 13,428
At 31 March 2023 8,385 10,675 19,060

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 99,350 45,140
Other debtors 19,850 20,446
119,200 65,586

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 13,936 5,918
Taxation and social security 184,282 138,922
Other creditors 223,155 189,060
421,373 333,900