Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30true22022-10-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08213497 2022-10-01 2023-09-30 08213497 2021-10-01 2022-09-30 08213497 2023-09-30 08213497 2022-09-30 08213497 c:Director2 2022-10-01 2023-09-30 08213497 d:FurnitureFittings 2022-10-01 2023-09-30 08213497 d:FurnitureFittings 2023-09-30 08213497 d:FurnitureFittings 2022-09-30 08213497 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 08213497 d:FreeholdInvestmentProperty 2023-09-30 08213497 d:FreeholdInvestmentProperty 2022-09-30 08213497 d:CurrentFinancialInstruments 2023-09-30 08213497 d:CurrentFinancialInstruments 2022-09-30 08213497 d:Non-currentFinancialInstruments 2023-09-30 08213497 d:Non-currentFinancialInstruments 2022-09-30 08213497 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 08213497 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 08213497 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 08213497 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 08213497 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-09-30 08213497 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-09-30 08213497 d:ShareCapital 2023-09-30 08213497 d:ShareCapital 2022-09-30 08213497 d:OtherMiscellaneousReserve 2023-09-30 08213497 d:OtherMiscellaneousReserve 2022-09-30 08213497 d:RetainedEarningsAccumulatedLosses 2023-09-30 08213497 d:RetainedEarningsAccumulatedLosses 2022-09-30 08213497 c:FRS102 2022-10-01 2023-09-30 08213497 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 08213497 c:FullAccounts 2022-10-01 2023-09-30 08213497 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 08213497 6 2022-10-01 2023-09-30 08213497 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 08213497









PROPERTY SPURS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
PROPERTY SPURS LIMITED
REGISTERED NUMBER: 08213497

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,446
1,897

Investments
 5 
15
15

Investment property
 6 
2,976,539
2,976,539

  
2,978,000
2,978,451

Current assets
  

Debtors: amounts falling due within one year
 7 
1,003,072
1,213,070

Cash at bank and in hand
 8 
20,941
16,554

  
1,024,013
1,229,624

Creditors: amounts falling due within one year
 9 
(1,997,803)
(1,929,757)

Net current liabilities
  
 
 
(973,790)
 
 
(700,133)

Total assets less current liabilities
  
2,004,210
2,278,318

Creditors: amounts falling due after more than one year
 10 
(1,548,023)
(1,846,671)

Provisions for liabilities
  

Deferred tax
  
(28,054)
(28,054)

  
 
 
(28,054)
 
 
(28,054)

Net assets
  
428,133
403,593


Capital and reserves
  

Called up share capital 
  
2
2

Other reserves
  
123,444
123,444

Profit and loss account
  
304,687
280,147

  
428,133
403,593


Page 1

 
PROPERTY SPURS LIMITED
REGISTERED NUMBER: 08213497
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 September 2024.




J Arnold
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
PROPERTY SPURS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Property Spurs Limited is a private Company, limited by shares, incorporated in the United Kingdom and registered in England & Wales (registered number 08213497). The Company's registered office address is 101 New Cavendish Street, 1st Floor South, London W1W 6XH. 
The financial statements are presented in Sterling, which is the functional currency of the Company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PROPERTY SPURS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% Reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
PROPERTY SPURS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
PROPERTY SPURS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 October 2022
5,611



At 30 September 2023

5,611



Depreciation


At 1 October 2022
3,715


Charge for the year on owned assets
449



At 30 September 2023

4,164



Net book value



At 30 September 2023
1,447



At 30 September 2022
1,896


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 October 2022
15



At 30 September 2023
15




Page 6

 
PROPERTY SPURS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 October 2022
2,976,539



At 30 September 2023
2,976,539


Comprising


Cost
2,841,040

Annual revaluation surplus/(deficit):


2021
135,499

At 30 September 2023
2,976,539

The 2023 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
2,841,040
2,841,040

2,841,040
2,841,040

Page 7

 
PROPERTY SPURS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7.


Debtors

2023
2022
£
£


Other debtors
1,003,072
1,213,070

1,003,072
1,213,070



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
20,941
16,554

20,941
16,554



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,055
5,868

Corporation tax
5,848
1,989

Other creditors
1,985,300
1,918,300

Accruals and deferred income
3,600
3,600

1,997,803
1,929,757


Page 8

 
PROPERTY SPURS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,548,023
1,846,671

1,548,023
1,846,671


The following liabilities were secured:

2023
2022
£
£



Bank loans
1,548,023
1,846,671

1,548,023
1,846,671

Details of security provided:

The bank loans relate to mortgages on specific properties held by the company and are secured by way of fixed and floating charges on the respective properties.

Page 9

 
PROPERTY SPURS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
1,548,023
1,846,671

1,548,023
1,846,671



12.


Related party transactions

ARNY Finance Limited is a company in which the directors are both directors & shareholders.  During the year, the company loaned £853,087 to ARNY Finance Limited, interest free, with no fixed repayment date, to provide funding for its activities.  This amount is included within other debtors.

 
Page 10