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Registration number: 10498138

Spa Gardens Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Spa Gardens Investments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Spa Gardens Investments Limited

Company Information

Directors

Mr S Ahsani

Mr W P Harford

Registered office

Unit 217 Harbour Yard
Chelsea Harbour
London
SW10 0XD

Accountants

Aventus Partners Limited
Hygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

Spa Gardens Investments Limited

(Registration number: 10498138)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

69,625

785,778

Creditors: Amounts falling due within one year

5

(9,902)

(1,189,790)

Net assets/(liabilities)

 

59,723

(404,012)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

59,623

(404,112)

Shareholders' funds/(deficit)

 

59,723

(404,012)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and delivered 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

These financial statements were approved and authorised for issue by the Board on 1 October 2024 and signed on its behalf by:
 

.........................................
Mr W P Harford
Director

 

Spa Gardens Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 217 Harbour Yard
Chelsea Harbour
London
SW10 0XD
England

These financial statements were authorised for issue by the Board on 1 October 2024.

2

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 except that as disclosed in the accounting policies certain items are shown at fair value.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

Going concern

The company is dependent on continuing finance being made available by its parent company and the company directors to enable it to continue operating and to meet its debts as they fall due. The parent company and the company directors have agreed to provide sufficient funds for these purposes for at least 12 months from the date that these accounts are approved by the directors. The directors believe it is therefore appropriate to prepare the financial statements on a going concern.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

 

Spa Gardens Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

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.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are
measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.


 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss if recognised in the Profit and loss account.

For financial assets measured as amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average monthly number of persons employed by the company (including directors) during the year, was 2 (2022: 2).

 

Spa Gardens Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

4

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

7

3,522

-

Other debtors

 

-

724,132

Loan Advanced

 

66,103

61,646

Total current trade and other debtors

 

69,625

785,778

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

-

2,100

Amounts owed to parent undertaking

7

-

860,219

Other creditors

 

-

324,946

Accrued expenses

 

2,340

2,350

Corporation tax payable

 

7,387

-

Directors current account

 

175

175

 

9,902

1,189,790

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Spa Gardens Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

7

Related party transactions

Summary of transactions with other related parties

The company has taken advantage of the exemptions available in FRS 102 section 1A from disclosing related party transactions with other companies that are wholly owned within the group.

8

Parent and ultimate parent undertaking

The company's immediate parent is Right Concept Investments Limited, incorporated in British Virgin Islands.