Silverfin false false 29/02/2024 01/03/2023 29/02/2024 A R Treseder 22/12/2022 C P Treseder 19/06/2023 07/06/2000 P M Treseder 07/06/2000 29 November 2024 The principle activity of the company during the financial year was construction and management of investment property. 03396619 2024-02-29 03396619 bus:Director1 2024-02-29 03396619 bus:Director2 2024-02-29 03396619 bus:Director3 2024-02-29 03396619 2023-02-28 03396619 core:CurrentFinancialInstruments 2024-02-29 03396619 core:CurrentFinancialInstruments 2023-02-28 03396619 core:ShareCapital 2024-02-29 03396619 core:ShareCapital 2023-02-28 03396619 core:RetainedEarningsAccumulatedLosses 2024-02-29 03396619 core:RetainedEarningsAccumulatedLosses 2023-02-28 03396619 core:PlantMachinery 2023-02-28 03396619 core:PlantMachinery 2024-02-29 03396619 bus:OrdinaryShareClass1 2024-02-29 03396619 2023-03-01 2024-02-29 03396619 bus:FilletedAccounts 2023-03-01 2024-02-29 03396619 bus:SmallEntities 2023-03-01 2024-02-29 03396619 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 03396619 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03396619 bus:Director1 2023-03-01 2024-02-29 03396619 bus:Director2 2023-03-01 2024-02-29 03396619 bus:Director3 2023-03-01 2024-02-29 03396619 core:PlantMachinery core:TopRangeValue 2023-03-01 2024-02-29 03396619 2022-03-01 2023-02-28 03396619 core:PlantMachinery 2023-03-01 2024-02-29 03396619 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 03396619 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03396619 (England and Wales)

SPANVIEW UK LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

SPANVIEW UK LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

SPANVIEW UK LIMITED

BALANCE SHEET

As at 29 February 2024
SPANVIEW UK LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,755 6,666
Investment property 4 576,992 576,992
579,747 583,658
Current assets
Stocks 496,947 496,947
Debtors 5 448,568 447,422
Cash at bank and in hand 83,304 85,695
1,028,819 1,030,064
Creditors: amounts falling due within one year 6 ( 2,740) ( 2,740)
Net current assets 1,026,079 1,027,324
Total assets less current liabilities 1,605,826 1,610,982
Net assets 1,605,826 1,610,982
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 1,605,824 1,610,980
Total shareholders' funds 1,605,826 1,610,982

For the financial 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.

Directors' responsibilities:

The financial statements of Spanview UK Limited (registered number: 03396619) were approved and authorised for issue by the Board of Directors on 29 November 2024. They were signed on its behalf by:

A R Treseder
Director
SPANVIEW UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
SPANVIEW UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Spanview UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Garvinack Farm, Tregavethan, Truro, TR4 9EP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Financial instruments

The company holds the following financial instruments:

•Short term trade and other debtors and creditors;
•Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 March 2023 81,649 81,649
At 29 February 2024 81,649 81,649
Accumulated depreciation
At 01 March 2023 74,983 74,983
Charge for the financial year 3,911 3,911
At 29 February 2024 78,894 78,894
Net book value
At 29 February 2024 2,755 2,755
At 28 February 2023 6,666 6,666

4. Investment property

Investment property
£
Valuation
As at 01 March 2023 576,992
As at 29 February 2024 576,992

5. Debtors

2024 2023
£ £
Amounts owed by directors 27,779 26,166
Prepayments 157 143
VAT recoverable 0 481
Corporation tax 164 164
Other debtors 420,468 420,468
448,568 447,422

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 2,740 2,740

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Loan to the directors, repayable on demand 27,779 26,166

During the year an additional £1,020 of advances were made on this loan. Interest is now being charged at a rate of 2.25% , replacing the previous interest-free terms.