Company Registration No. 12318376 (England and Wales)
SPARKK Investments Limited
Unaudited accounts
for the year ended 31 March 2024
SPARKK Investments Limited
Unaudited accounts
Contents
SPARKK Investments Limited
Statement of financial position
as at 31 March 2024
Investment property
260,000
260,000
Cash at bank and in hand
14,393
3,452
Creditors: amounts falling due within one year
(63,129)
(83,252)
Net current liabilities
(46,573)
(77,770)
Total assets less current liabilities
213,427
182,230
Creditors: amounts falling due after more than one year
(187,200)
(187,200)
Provisions for liabilities
Deferred tax
(3,828)
(3,828)
Net assets/(liabilities)
22,399
(8,798)
Called up share capital
100
100
Fair value reserve
11,483
11,483
Profit and loss account
10,816
(20,381)
Shareholders' funds
22,399
(8,798)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by
Kushal Tuladhar
Director
Company Registration No. 12318376
SPARKK Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
SPARKK Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 12318376. The registered office is 49 Station Road, Polegate, Polegate, BN26 6EA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover represents the total invoice value of rent receivable during the year, excluding VAT.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 April 2023
260,000
Amounts falling due within one year
Accrued income and prepayments
2,163
2,030
SPARKK Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
2,308
2,650
Amounts owed to group undertakings and other participating interests
-
19,778
Other creditors
1,350
1,350
Loans from directors
59,471
59,474
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
187,200
187,200
The bank loans are secured over the investment properties held by the company.
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).