REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 28th September 2024 |
for |
JOHN SPENCER SQUARE MANAGEMENT |
COMPANY LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 28th September 2024 |
for |
JOHN SPENCER SQUARE MANAGEMENT |
COMPANY LIMITED |
JOHN SPENCER SQUARE MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 01802956) |
Contents of the Financial Statements |
for the year ended 28th September 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
JOHN SPENCER SQUARE MANAGEMENT |
COMPANY LIMITED |
Company Information |
for the year ended 28th September 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Statutory Auditor |
Office: Croydon - TC SWP |
3rd Floor, Suffolk House |
George Street |
Croydon |
CR0 0YN |
JOHN SPENCER SQUARE MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 01802956) |
Statement of Financial Position |
28th September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
RESERVES |
Revaluation reserve | 7 |
Income and expenditure account |
The financial statements were approved by the Board of Directors and authorised for issue on |
JOHN SPENCER SQUARE MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 01802956) |
Notes to the Financial Statements |
for the year ended 28th September 2024 |
1. | STATUTORY INFORMATION |
John Spencer Square Management Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The company reports a deficit for the year amounting to £234,508 as a result of incurring significant expenditure in relation to the freehold premises, that is not recoverable from lessees. The company manages expenditure in accordance with it's asset position and known income streams. Closing reserves of £289,764 are well in excess of all planned future expenditure and therefore it is appropriate for the company to continue to prepare accounts as a going concern. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in surplus or deficit. |
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 statement of financial position date. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Financial instruments |
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
JOHN SPENCER SQUARE MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 01802956) |
Notes to the Financial Statements - continued |
for the year ended 28th September 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 29th September 2023 |
Revaluations | 25,958 |
At 28th September 2024 |
NET BOOK VALUE |
At 28th September 2024 |
At 28th September 2023 |
Fair value at 28th September 2024 is represented by: |
£ |
Valuation in 2024 | 25,958 |
Cost | 19,042 |
45,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Accruals and deferred income |
7. | RESERVES |
Revaluation |
reserve |
£ |
At 29th September 2023 |
Revaluation of property | 16,433 |
At 28th September 2024 |
JOHN SPENCER SQUARE MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 01802956) |
Notes to the Financial Statements - continued |
for the year ended 28th September 2024 |
8. | AUDITORS' INFORMATION |
The audit report provided to the members of John Spencer Square Management Company Limited on the financial statements for the year ended 28 September 2023 was not qualified. |
The audit report was signed by Tim Lindfield (Senior Statutory Auditor) for and on behalf of Simpson Wreford & Partners, Chartered Accountants and Statutory Auditor. |