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Company No: 10288344 (England and Wales)

SPRINGACRE HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

SPRINGACRE HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

SPRINGACRE HOLDINGS LIMITED

BALANCE SHEET

As at 31 December 2023
SPRINGACRE HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,795 3,411
1,795 3,411
Current assets
Stocks 4 19,333 29,000
Debtors 5 307,024 511,303
Cash at bank and in hand 2,845 559
329,202 540,862
Creditors: amounts falling due within one year 6 ( 280,271) ( 428,258)
Net current assets 48,931 112,604
Total assets less current liabilities 50,726 116,015
Creditors: amounts falling due after more than one year 7 ( 18,120) ( 28,372)
Net assets 32,606 87,643
Capital and reserves
Called-up share capital 1 1
Profit and loss account 32,605 87,642
Total shareholders' funds 32,606 87,643

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Springacre Holdings Limited (registered number: 10288344) were approved and authorised for issue by the Board of Directors on 20 September 2024. They were signed on its behalf by:

M E L Easton
Director
E J Lindsay- Wood
Director
SPRINGACRE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
SPRINGACRE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Springacre Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 14 Hazlebury Road, London, SW6 2NB, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 6,347 6,347
At 31 December 2023 6,347 6,347
Accumulated depreciation
At 01 January 2023 2,936 2,936
Charge for the financial year 1,616 1,616
At 31 December 2023 4,552 4,552
Net book value
At 31 December 2023 1,795 1,795
At 31 December 2022 3,411 3,411

4. Stocks

2023 2022
£ £
Stocks 19,333 29,000

5. Debtors

2023 2022
£ £
Amounts owed by related parties 15,536 506,394
Other debtors 291,488 4,909
307,024 511,303

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,208 9,955
Taxation and social security 153,597 53,874
Other creditors 116,466 364,429
280,271 428,258

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 18,120 28,372

There are no amounts included above in respect of which any security has been given by the small entity.