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REGISTERED NUMBER: 08027701 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Springlands Exminster Limited

Springlands Exminster Limited (Registered number: 08027701)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

Springlands Exminster Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: I C Williams





REGISTERED OFFICE: 20 Southernhay East
Exeter
Devon
EX1 1QL





REGISTERED NUMBER: 08027701 (England and Wales)





ACCOUNTANTS: Kirk Hills Business Advisors
a trading name of RT Marke &
Co Chartered Accountants Ltd
5 Barnfield Crescent
Exeter
Devon
EX1 1QT

Springlands Exminster Limited (Registered number: 08027701)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,000 18,000
Tangible assets 5 25 34
Investments 6 86,755 69,456
101,780 87,490

CURRENT ASSETS
Debtors 7 284,237 305,171
Cash at bank 246,087 82,107
530,324 387,278
CREDITORS
Amounts falling due within one year 8 103,465 111,115
NET CURRENT ASSETS 426,859 276,163
TOTAL ASSETS LESS CURRENT
LIABILITIES

528,639

363,653

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 528,635 363,649
528,639 363,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 January 2025 and were signed by:





I C Williams - Director


Springlands Exminster Limited (Registered number: 08027701)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Springlands Exminster Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012 and 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and Straight line over 4 years

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


Springlands Exminster Limited (Registered number: 08027701)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Government grants
Government grants in respect of furloughed employees are credited to the statement of income and retained earnings.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 320,000
AMORTISATION
At 1 May 2023 302,000
Charge for year 3,000
At 30 April 2024 305,000
NET BOOK VALUE
At 30 April 2024 15,000
At 30 April 2023 18,000

Springlands Exminster Limited (Registered number: 08027701)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 2,683
DEPRECIATION
At 1 May 2023 2,649
Charge for year 9
At 30 April 2024 2,658
NET BOOK VALUE
At 30 April 2024 25
At 30 April 2023 34

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023 69,456
Additions 412,354
Disposals (395,055 )
At 30 April 2024 86,755
NET BOOK VALUE
At 30 April 2024 86,755
At 30 April 2023 69,456

The investment relates to the value of the company's partnership share of the Southernhay Dental Practice Partnership.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 284,237 305,171

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Taxation and social security 79,468 68,763
Other creditors 23,997 42,352
103,465 111,115

Springlands Exminster Limited (Registered number: 08027701)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


9. RELATED PARTY DISCLOSURES

The company derives all its income from its profit share of Southernhay Dental Practice in which it is a partner.

The balance on other debtors relates to monies owed to the company, from a partnership and from a limited company which have common ownership with this company. Total amounts are as follows:

Partnership: £41,548 (2023 - £47,671)

Limited company: £257,500 (2023 £257,500)

These amounts are unsecured, interest free, have no fixed date for repayment and are repayable on demand.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Springlands Exminster Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Springlands Exminster Limited for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Springlands Exminster Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Springlands Exminster Limited and state those matters that we have agreed to state to the director of Springlands Exminster Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Springlands Exminster Limited and its director for our work or for this report.

It is your duty to ensure that Springlands Exminster Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Springlands Exminster Limited. You consider that Springlands Exminster Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Springlands Exminster Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kirk Hills Business Advisors
a trading name of RT Marke &
Co Chartered Accountants Ltd
5 Barnfield Crescent
Exeter
Devon
EX1 1QT


Date: .............................................