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
Springdale Estates Ltd
Company Information
for the year ended 29 February 2024
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
Springdale Estates Ltd
Statement of financial position
as at 29 February 2024
Investment property
2,793,212
2,793,212
Cash at bank and in hand
2,230
190
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
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
Springdale Estates Ltd
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
The accounts are presented in £ sterling.
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 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 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.
Amounts falling due within one year
Accrued income and prepayments
-
878
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
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).