Registrar
Registration number:
S.P.B. Homes Limited
for the Year Ended 31 July 2024
S.P.B. Homes Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
S.P.B. Homes Limited
Company Information
Directors |
S P Butcher |
Company secretary |
S P Butcher |
Registered office |
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Bankers |
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Accountants |
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S.P.B. Homes Limited
(Registration number: 02611530)
Balance Sheet as at 31 July 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,820 |
1,820 |
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Share premium reserve |
159,180 |
159,180 |
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Retained earnings |
560,528 |
541,515 |
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Shareholders' funds |
721,528 |
702,515 |
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Company secretary and director
S.P.B. Homes Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is: 20 Otter Vale, Witham, Essex, CM8 1ZW.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable of rental income from the investment properties.
The company recognises revenue when:
• The amount of revenue can be reliably measured;
• it is probable that future economic benefits will flow to the entity;
• and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
S.P.B. Homes Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
25% Reducing balance |
Computer equipment |
25% Reducing balance |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
S.P.B. Homes Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Tangible assets |
Fixtures and fittings |
Computer equipment |
Total |
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Cost or valuation |
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At 1 August 2023 |
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At 31 July 2024 |
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Depreciation |
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At 1 August 2023 |
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Charge for the year |
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- |
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At 31 July 2024 |
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Carrying amount |
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At 31 July 2024 |
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At 31 July 2023 |
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Investment properties |
2024 |
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At 1 August |
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At 31 July |
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Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director.
There has been no valuation of investment property by an independent valuer.
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors falling due within one year include bank loans which are secured of £9,596 (2023 - £7,013).
S.P.B. Homes Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Creditors falling due in more than one year include bank loans which are secured of £102,201 (2023 - £112,605).
Creditors include bank loans repayable by instalments of £61,600 (2023 - £70,335) due after more than five years.
Bank borrowings
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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1,820 |
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1,820 |
Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Bank loans |
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Other loans |
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Non-current loans and borrowings
2024 |
2023 |
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Bank loans |
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