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REGISTERED NUMBER: 04113285 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Springbank Property Limited

Springbank Property Limited (Registered number: 04113285)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Springbank Property Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: P Turner





REGISTERED OFFICE: 36a Market Street
New Mills
High Peak
Derbyshire
SK22 4AA





REGISTERED NUMBER: 04113285 (England and Wales)





ACCOUNTANTS: DLA Chartered Accountants
36A Market Street
New Mills
High Peak
SK22 4AA

Springbank Property Limited (Registered number: 04113285)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 171,210 370,546

CURRENT ASSETS
Debtors 5 - 1,229
Cash at bank 42,186 393
42,186 1,622
CREDITORS
Amounts falling due within one year 6 6,124 116,201
NET CURRENT ASSETS/(LIABILITIES) 36,062 (114,579 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,272

255,967

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 106,224 166,224
Retained earnings 100,948 89,643
SHAREHOLDERS' FUNDS 207,272 255,967

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 9 October 2024 and were signed by:





P Turner - Director


Springbank Property Limited (Registered number: 04113285)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Springbank Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 33% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

Springbank Property Limited (Registered number: 04113285)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 370,000 399 1,000 371,399
Additions - - 1,194 1,194
Disposals (200,000 ) - - (200,000 )
At 31 March 2024 170,000 399 2,194 172,593
DEPRECIATION
At 1 April 2023 - 154 699 853
Charge for year - 37 493 530
At 31 March 2024 - 191 1,192 1,383
NET BOOK VALUE
At 31 March 2024 170,000 208 1,002 171,210
At 31 March 2023 370,000 245 301 370,546

Cost or valuation at 31 March 2024 is represented by:

Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
Valuation in 2022 170,000 399 2,194 172,593

Freehold land and buildings were valued on an open market basis on 31st March 2022.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Tax - 1,229

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 29 276
Tax 8,088 350
Social security and other taxes (2,262 ) (2,262 )
Other creditors 30 364
Directors' current accounts 239 117,473
6,124 116,201

7. RESERVES
Revaluation
reserve
£   
At 1 April 2023 166,224
Revaluation reserve (60,000 )

At 31 March 2024 106,224