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REGISTERED NUMBER: 02229993 (England and Wales)











Financial Statements

for the Year Ended 31 March 2024

for

SPREADS OF THE WEST END LIMITED

SPREADS OF THE WEST END LIMITED (REGISTERED NUMBER: 02229993)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPREADS OF THE WEST END LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S Khosravi
Mrs S J Khosravi





SECRETARY: Mrs S J Khosravi





REGISTERED OFFICE: Room 330A Building 3
North London Business Park
Oakleigh Road South New Southgate
London
N11 1GN





REGISTERED NUMBER: 02229993 (England and Wales)





ACCOUNTANTS: Marchant Lewis Limited
105a Caversham Avenue
London
N13 4LL

SPREADS OF THE WEST END LIMITED (REGISTERED NUMBER: 02229993)

Balance Sheet
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,965
Tangible assets 5 46,237 61,993
Investment property 6 414,027 414,027
460,264 478,985

CURRENT ASSETS
Stocks 3,525 3,025
Debtors 7 532 5,585
Cash at bank and in hand 113,073 125,624
117,130 134,234
CREDITORS
Amounts falling due within one year 8 66,531 74,447
NET CURRENT ASSETS 50,599 59,787
TOTAL ASSETS LESS CURRENT
LIABILITIES

510,863

538,772

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Retained earnings 495,863 523,772
SHAREHOLDERS' FUNDS 510,863 538,772

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 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.

SPREADS OF THE WEST END LIMITED (REGISTERED NUMBER: 02229993)

Balance Sheet - continued
31 MARCH 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 29 August 2024 and were signed on its behalf by:





S Khosravi - Director


SPREADS OF THE WEST END LIMITED (REGISTERED NUMBER: 02229993)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Spreads of the West End 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 15 years
Improvements to property - Straight line over 15 years
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

In accordance with Statement of Standard Accounting Practice 19 no depreciation is provided in respect of freehold property. This is a departure from Companies Act 2006 which requires all properties to be depreciated. The property is not held for consumption but for investment and the director considers that to depreciate the freehold property would not give a true and fair view.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


SPREADS OF THE WEST END LIMITED (REGISTERED NUMBER: 02229993)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 103,326
AMORTISATION
At 1 April 2023 100,361
Charge for year 2,965
At 31 March 2024 103,326
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 2,965

SPREADS OF THE WEST END LIMITED (REGISTERED NUMBER: 02229993)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and Computer
leasehold property fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 21,430 202,995 182,880 4,486 411,791
Additions - - 529 - 529
At 31 March 2024 21,430 202,995 183,409 4,486 412,320
DEPRECIATION
At 1 April 2023 15,093 151,223 179,050 4,432 349,798
Charge for year 1,329 13,533 1,409 14 16,285
At 31 March 2024 16,422 164,756 180,459 4,446 366,083
NET BOOK VALUE
At 31 March 2024 5,008 38,239 2,950 40 46,237
At 31 March 2023 6,337 51,772 3,830 54 61,993

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 414,027
NET BOOK VALUE
At 31 March 2024 414,027
At 31 March 2023 414,027

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 532 5,585

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 9,200 9,200
Taxation and social security 12,600 12,329
Other creditors 44,731 52,918
66,531 74,447