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REGISTERED NUMBER: 01620420 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

SPENCER BONNETT LIMITED

SPENCER BONNETT LIMITED (REGISTERED NUMBER: 01620420)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SPENCER BONNETT LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTORS: Mrs H J Bennet
J S Bonnett
Mrs K E Bonnett
J C S Bonnett
Mrs M J Bonnett





SECRETARY: Mrs K E Bonnett





REGISTERED OFFICE: Aruna House
2 Kings Road
Haslemere
Surrey
GU27 2QA





REGISTERED NUMBER: 01620420 (England and Wales)





ACCOUNTANTS: A & N (Haslemere) Limited
Aruna House
2 Kings Road
Haslemere
Surrey
GU27 2QA

SPENCER BONNETT LIMITED (REGISTERED NUMBER: 01620420)

STATEMENT OF FINANCIAL POSITION
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investments 3 5,000 5,000
Investment property 4 3,060,894 3,122,896
3,065,894 3,127,896

CURRENT ASSETS
Debtors 5 13,004 14,262
Cash at bank 8,201 25,646
21,205 39,908
CREDITORS
Amounts falling due within one year 6 336,297 387,729
NET CURRENT LIABILITIES (315,092 ) (347,821 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,750,802

2,780,075

PROVISIONS FOR LIABILITIES 45,414 57,194
NET ASSETS 2,705,388 2,722,881

CAPITAL AND RESERVES
Called up share capital 2,802 2,802
Revaluation reserve 7 475,868 475,868
Fair value reserve 7 (297,393 ) (347,615 )
Retained earnings 7 2,524,111 2,591,826
SHAREHOLDER FUNDS 2,705,388 2,722,881

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SPENCER BONNETT LIMITED (REGISTERED NUMBER: 01620420)

STATEMENT OF FINANCIAL POSITION - continued
30 June 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





J S Bonnett - Director


SPENCER BONNETT LIMITED (REGISTERED NUMBER: 01620420)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

There is no depreciation on the investment properties.


Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible fixed assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

SPENCER BONNETT LIMITED (REGISTERED NUMBER: 01620420)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

3. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 5,000
NET BOOK VALUE
At 30 June 2024 5,000
At 30 June 2023 5,000

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 3,122,896
Revaluations (62,002 )
At 30 June 2024 3,060,894
NET BOOK VALUE
At 30 June 2024 3,060,894
At 30 June 2023 3,122,896

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2020 457,713
Valuation in 2021 85,001
Valuation in 2022 (9,900 )
Valuation in 2023 (77,577 )
Valuation in 2024 (62,002 )
Cost 2,667,659
3,060,894

If the investment properties had not been revalued they would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 2,667,659 2,426,613

Investment properties were valued on an open market basis on 30 June 2024 by Government UK House Price Index .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 13,004 14,262

SPENCER BONNETT LIMITED (REGISTERED NUMBER: 01620420)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Taxation and social security 7,677 12,721
Other creditors 328,620 375,008
336,297 387,729

7. RESERVES
Fair
Retained Revaluation value
earnings reserve reserve Totals
£    £    £    £   

At 1 July 2023 2,591,826 475,868 (347,615 ) 2,720,079
Deficit for the year (17,493 ) - - (17,493 )
Reserve transfer (50,222 ) - 50,222 -
At 30 June 2024 2,524,111 475,868 (297,393 ) 2,702,586