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SPM PROPERTY HOLDINGS LIMITED

Registered Number
13003455
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

SPM PROPERTY HOLDINGS LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Neil McCrindle
Sangita Patel-McCrindle

Registered Address

Suite 1, Ritzy Offices, 2-3 Dorcan Business Village
Murdock Road
Swindon
SN3 5HY

Registered Number

13003455 (England and Wales)
SPM PROPERTY HOLDINGS LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets32,689-
Investment property4780,000930,000
782,689930,000
Current assets
Debtors16,130334
Cash at bank and on hand34,99771,029
51,12771,363
Creditors amounts falling due within one year5(380,596)(246,048)
Net current assets (liabilities)(329,469)(174,685)
Total assets less current liabilities453,220755,315
Creditors amounts falling due after one year6(396,483)(688,650)
Provisions for liabilities9(33,393)(27,240)
Net assets23,34439,425
Capital and reserves
Called up share capital100100
Revaluation reserve133,570108,959
Profit and loss account(110,326)(69,634)
Shareholders' funds23,34439,425
The financial statements were approved and authorised for issue by the Board of Directors on 30 November 2024, and are signed on its behalf by:
Sangita Patel-McCrindle
Director
Registered Company No. 13003455
SPM PROPERTY HOLDINGS LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings20
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
Additions3,3613,361
At 30 November 233,3613,361
Depreciation and impairment
Charge for year672672
At 30 November 23672672
Net book value
At 30 November 232,6892,689
At 30 November 22--
4.Investment property
Investment properties comprisesof freehold properties. The fair value of the investment properties have been arrived at from a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

£
Fair value at 01 December 22930,000
Additions243,163
Disposals(430,000)
Fair value adjustments36,837
At 30 November 23780,000
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables130,000-
Taxation and social security4,124-
Other creditors236,884244,608
Accrued liabilities and deferred income9,5881,440
Total380,596246,048
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts382,131688,650
Other creditors14,352-
Total396,483688,650
7.Creditors: amounts due after 5 years
The bank loans due after more than one year are not repayable by instalments.
8.Secured creditors
The long-term bank loans are secured by fixed charges over the investment properties.
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)33,39327,240
Total33,39327,240