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Company Registration No. 09440624 (England and Wales)
Springdale Estates Ltd Unaudited accounts for the year ended 29 February 2024
Springdale Estates Ltd Unaudited accounts Contents
Page
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Springdale Estates Ltd Company Information for the year ended 29 February 2024
Director
Mr Y Sprung
Company Number
09440624 (England and Wales)
Registered Office
Hallswelle House 1 Hallswelle Road London NW11 0DH
Accountants
Clearfin Accountants Limited Churchill House 137-139 Brent Street London NW4 4DJ
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Springdale Estates Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
2,793,212 
2,793,212 
Current assets
Debtors
2,520 
7,855 
Cash at bank and in hand
2,230 
190 
4,750 
8,045 
Creditors: amounts falling due within one year
(1,823,463)
(1,852,085)
Net current liabilities
(1,818,713)
(1,844,040)
Total assets less current liabilities
974,499 
949,172 
Provisions for liabilities
Deferred tax
(222,124)
(222,124)
Net assets
752,375 
727,048 
Capital and reserves
Called up share capital
1 
1 
Fair value reserve
684,876 
684,876 
Profit and loss account
67,498 
42,171 
Shareholders' funds
752,375 
727,048 
For the year ending 29 February 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 director acknowledges his 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 and authorised for issue on 11 November 2024 and were signed on its behalf by
Mr Y Sprung Director Company Registration No. 09440624
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Springdale Estates Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Springdale Estates Ltd is a private company, limited by shares, registered in England and Wales, registration number 09440624. The registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Rental income from operating leases (net of any incentives given to the lesees) is recognised on a straight-line basis over the lease term.
Investment property
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 taxation
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.
4
Investment property
2024 
£ 
Fair value at 1 March 2023
2,793,212 
At 29 February 2024
2,793,212 
The investment properties were valued by the directors at the balance sheet date on an open-market for existing use basis.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,520 
6,977 
Accrued income and prepayments
- 
878 
2,520 
7,855 
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Springdale Estates Ltd Notes to the Accounts for the year ended 29 February 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
12,932 
8,134 
Other creditors
566,718 
776,892 
Loans from directors
1,240,956 
1,065,018 
Accruals
2,041 
2,041 
Deferred income
816 
- 
1,823,463 
1,852,085 
7
Transactions with related parties
Included within other creditors is an amount of £1,240,956 (2023: £1,065,018) due to a director of the company.
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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