Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29The principal activity of the Company is that of rental of investment properties.2023-03-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08905893 2023-03-01 2024-02-29 08905893 2022-03-01 2023-02-28 08905893 2024-02-29 08905893 2023-02-28 08905893 c:Director2 2023-03-01 2024-02-29 08905893 d:FurnitureFittings 2023-03-01 2024-02-29 08905893 d:OtherPropertyPlantEquipment 2024-02-29 08905893 d:OtherPropertyPlantEquipment 2023-02-28 08905893 d:FreeholdInvestmentProperty 2024-02-29 08905893 d:FreeholdInvestmentProperty 2023-02-28 08905893 d:CurrentFinancialInstruments 2024-02-29 08905893 d:CurrentFinancialInstruments 2023-02-28 08905893 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 08905893 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08905893 d:ShareCapital 2024-02-29 08905893 d:ShareCapital 2023-02-28 08905893 d:RetainedEarningsAccumulatedLosses 2024-02-29 08905893 d:RetainedEarningsAccumulatedLosses 2023-02-28 08905893 c:OrdinaryShareClass1 2023-03-01 2024-02-29 08905893 c:OrdinaryShareClass1 2024-02-29 08905893 c:OrdinaryShareClass1 2023-02-28 08905893 c:FRS102 2023-03-01 2024-02-29 08905893 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08905893 c:FullAccounts 2023-03-01 2024-02-29 08905893 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08905893 d:EntityControlledByKeyManagementPersonnel1 2023-03-01 2024-02-29 08905893 d:EntityControlledByKeyManagementPersonnel1 2024-02-29 08905893 d:EntityControlledByKeyManagementPersonnel1 2023-02-28 08905893 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-02-29 08905893 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-28 08905893 2 2023-03-01 2024-02-29 08905893 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08905893









S.P.R.R.K LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024



 
S.P.R.R.K LTD
REGISTERED NUMBER: 08905893

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
650,000
650,000

Current assets
  

Debtors: amounts falling due within one year
 6 
3,139
3,353

Cash at bank and in hand
  
73,422
58,770

  
76,561
62,123

Creditors: amounts falling due within one year
 7 
(700,445)
(702,277)

Net current liabilities
  
 
 
(623,884)
 
 
(640,154)

Total assets less current liabilities
  
26,116
9,846

  

Net assets
  
26,116
9,846


Capital and reserves
  

Called up share capital 
 8 
1,000
1,000

Profit and loss account
  
25,116
8,846

  
26,116
9,846


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 income and retained earnings 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 by: 





S M Shah
Director

Date: 1 October 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
S.P.R.R.K LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The Company is a private company limited by shares and incorporated in England & Wales, United Kingdom. The Company number is 08905893 and its registered office is 24 Old Bond Street, London, W1S 4AP. The Company is not part of a group.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax.
Turnover represents rents receivable during the year from investment properties.
Rental income from investment properties is accrued on a time apportioned basis under the term of the lease.                                   

 
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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% Straight line

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.

Page 2

 
S.P.R.R.K LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors or 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

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Borrowing costs

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

Page 3

 
S.P.R.R.K LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.10

Taxation

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 corporation 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 (2023 - 2).


4.


Tangible fixed assets







Other fixed assets

£



Cost 


At 1 March 2023
4,000



At 29 February 2024

4,000



Depreciation


At 1 March 2023
4,000



At 29 February 2024

4,000



Net book value



At 29 February 2024
-



At 28 February 2023
-

Page 4

 
S.P.R.R.K LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Investment property





Freehold investment property

£



Valuation


At 1 March 2023
650,000



At 29 February 2024
650,000

The 2024 valuations were made by a third party, on an open market value for existing use basis.





6.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
200
200

Prepayments
2,939
3,153

3,139
3,353



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Other loans
693,500
693,500

Corporation tax
3,817
2,556

Other creditors
248
1,084

Accruals and deferred income
2,880
5,137

700,445
702,277





8.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 5

 
S.P.R.R.K LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Related party transactions

During the year the Company operated a loan account with a director of the Company.  
The amounts due to the directors at the year end was £248 (2023 - £1,084). This loan is interest free and repayable upon demand.
During the year the Company operated a loan account with Surrey and London Eye Surgery Limited, a company in which a director has a material interest. 
The amounts due to the related company at the year end was £693,500 (2023 - £693,500) and is shown under "other loans" in the creditors note.


Page 6