Registered number
14703388
SPARTAN RESIDENTIAL LIMITED
Filleted Accounts
31 March 2024
SPARTAN RESIDENTIAL LIMITED
Registered number: 14703388
Balance Sheet
as at 31 March 2024
Notes 2024
£
Fixed assets
Tangible assets 3 241,506
241,506
Current assets
Stocks -
Debtors 4 6,336
Cash at bank and in hand 4,444
10,780
Creditors: amounts falling due within one year 5 (780)
Net current assets 10,000
Total assets less current liabilities 251,506
Creditors: amounts falling due after more than one year 6 (254,100)
Provisions for liabilities -
Net liabilities (2,594)
Capital and reserves
Called up share capital 100
Profit and loss account (2,694)
Shareholders' funds (2,594)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The directors have prepared the accounts under the going concern basis as the company continues to meet its liabilities as and when they fall due.
Dee Davis
Director
Approved by the board on 18 July 2024
SPARTAN RESIDENTIAL LIMITED
Notes to the Accounts
for the period from 3 March 2023 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024
Number
Average number of persons employed by the company 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 3 March 2023 - - - -
Additions 241,506 - - 241,506
Surplus on revaluation - - - -
Disposals - - - -
At 31 March 2024 241,506 - - 241,506
Depreciation
At 3 March 2023 - - - -
Charge for the period - - - -
Surplus on revaluation - - - -
On disposals - - - -
At 31 March 2024 - - - -
Net book value
At 31 March 2024 241,506 - - 241,506
At 2 March 2023 - - - -
Freehold land and buildings: 2024
£
Historical cost 241,506
Cumulative depreciation based on historical cost -
241,506
4 Debtors 2024
£
Trade debtors -
Deferred tax asset -
Other debtors 6,336
6,336
Amounts due after more than one year included above -
5 Creditors: amounts falling due within one year 2024
£
Bank loans and overdrafts -
Trade creditors -
Taxation and social security costs -
Other creditors 780
780
6 Creditors: amounts falling due after one year 2024
£
Non-equity preference shares -
Mortgage advance 138,600
Obligations under finance lease and hire purchase contracts -
Trade creditors -
Other creditors 115,500
254,100
7 Related party transactions
No related party transactions were entered into during the year.
8 Controlling party
The company was under the control of its directors throughout the year.
9 Other information
SPARTAN RESIDENTIAL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
22 Winchester Way
Southampton
Hampshire
SO40 8JS
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