1 April 2023 false Taxfiler 2024.6 10230630business:PrivateLimitedCompanyLtd2023-04-012024-03-31 102306302023-03-31 102306302023-04-012024-03-31 10230630business:AuditExemptWithAccountantsReport2023-04-012024-03-31 10230630business:FilletedAccounts2023-04-012024-03-31 102306302024-03-31 10230630business:Director12023-04-012024-03-31 10230630business:Director22023-04-012024-03-31 10230630business:RegisteredOffice2023-04-012024-03-31 102306302023-03-31 10230630core:WithinOneYear2024-03-31 10230630core:WithinOneYear2023-03-31 10230630core:AfterOneYear2024-03-31 10230630core:AfterOneYear2023-03-31 10230630core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 10230630core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 10230630core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 10230630core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 10230630core:PreviouslyStatedAmount2024-03-31 10230630core:PreviouslyStatedAmount2023-03-31 10230630business:SmallEntities2023-04-012024-03-31 10230630countries:EnglandWales2023-04-012024-03-31 10230630core:MoreThanFiveYears2024-03-31 10230630core:MoreThanFiveYears2023-03-31 10230630core:AfterOneYear2023-04-012024-03-31 102306302022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 10230630 (England and Wales)
Spero Property Developments Limited Unaudited accounts for the year ended 31 March 2024
Spero Property Developments Limited Unaudited accounts Contents
Page
- 2 -
Spero Property Developments Limited Company Information for the year ended 31 March 2024
Directors
Nicola Ainsworth N Ainsworth
Company Number
10230630 (England and Wales)
Registered Office
24 Beech Avenue York North Yorkshire YO24 4JL United Kingdom
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
- 3 -
Spero Property Developments Limited Accountants' report
Accountants' report to the board of directors of Spero Property Developments Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Spero Property Developments Limited for the year ended 31 March 2024 as set out on pages 5 - 6 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Spero Property Developments Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Spero Property Developments Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spero Property Developments Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Spero Property Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Spero Property Developments Limited. You consider that Spero Property Developments 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 accounts of Spero Property Developments 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 accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 23 January 2025
- 4 -
Spero Property Developments Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Inventories
169,473 
169,473 
Debtors
5,791 
6,787 
Cash at bank and in hand
17,885 
2,204 
193,149 
178,464 
Creditors: amounts falling due within one year
(112,610)
(127,208)
Net current assets
80,539 
51,256 
Total assets less current liabilities
80,539 
51,256 
Creditors: amounts falling due after more than one year
(195,728)
(202,318)
Net liabilities
(115,189)
(151,062)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(115,289)
(151,162)
Shareholders' funds
(115,189)
(151,062)
For the year ending 31 March 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 directors acknowledge their 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 of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by
N Ainsworth Director Company Registration No. 10230630
- 5 -
Spero Property Developments Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Spero Property Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 10230630. The registered office is 24 Beech Avenue, York, North Yorkshire, YO24 4JL, United Kingdom.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Deferred tax asset
2,473 
2,473 
Other debtors
3,318 
4,314 
5,791 
6,787 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
112,610 
127,208 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
195,728 
202,318 
Aggregate of amounts that fall due for payment after five years
152,625 
202,317 
Included in long term creditors is a bank loan secured on the development property. A personal guarantee has been provided.
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
- 6 -