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Registered Number: 13216727
England and Wales

 

 

 

SPOT ON PROPERTY SOLUTIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Director Judita Palsyte
Registered Number 13216727
Registered Office 17 AIDAN CLOSE
DAGENHAM
RM8 3LE
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 29 February 2024
Director
The director who served the company throughout the year was as follows:
Judita Palsyte
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Judita Palsyte
Director

Date approved: 20 September 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 380,000    371,000 
380,000    371,000 
Current assets      
Cash at bank and in hand 1,814    138 
Creditors: amount falling due within one year 4 (136,406)   (128,821)
Net current assets (134,592)   (128,683)
 
Total assets less current liabilities 245,408    242,317 
Creditors: amount falling due after more than one year 5 (214,495)   (224,495)
Provisions for liabilities 6 (8,198)   (6,448)
Net assets 22,715    11,374 
 

Capital and reserves
     
Called up share capital 1    1 
Fair Value Reserves 7 24,595    19,345 
Profit and loss account (1,881)   (7,972)
Shareholders' funds 22,715    11,374 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 20 September 2024 and were signed by:


-------------------------------
Judita Palsyte
Director
3
General Information
Spot on Property Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 13216727, registration address 17 AIDAN CLOSE, DAGENHAM, RM8 3LE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 March 2023 345,207    345,207 
Additions 2,000    2,000 
Disposals  
Revaluations 32,793    32,793 
At 29 February 2024 380,000    380,000 
Depreciation
At 01 March 2023  
Charge for year  
On disposals  
At 29 February 2024  
Net book values
Closing balance as at 29 February 2024 380,000    380,000 
Opening balance as at 01 March 2023 371,000    371,000 


4.

Creditors: amount falling due within one year

2024
£
  2023
£
Accrued Expenses 600    1,000 
Other Creditors 5,000   
Directors' Current Accounts 130,806    127,821 
136,406    128,821 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 214,495    214,495 
Other Creditors   10,000 
214,495    224,495 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 8,198    6,448 
8,198    6,448 

7.

Fair Value Reserves

2024
£
  2023
£
Fair Value Reserve 24,595    19,345 
24,595    19,345 

8.

Director’s loan

Loans to directors

At the YE 28.02.24 company owes director £130,806. Loan is interest free and repayable on demand
4