Registered number
13925168
SPRINGSONS HOLDINGS LTD
Unaudited Filleted Accounts
30 June 2024
SPRINGSONS HOLDINGS LTD
Registered number: 13925168
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Current assets
Stocks 1,331,800 593,400
Debtors 3 34,440 6,296
Cash at bank and in hand 41,647 20,974
1,407,887 620,670
Creditors: amounts falling due within one year 4 (1,003,942) (616,122)
Net current assets 403,945 4,548
Total assets less current liabilities 403,945 4,548
Creditors: amounts falling due after more than one year 5 (399,471) -
Provisions for liabilities - -
Net assets 4,474 4,548
Capital and reserves
Called up share capital 100 100
Profit and loss account 4,374 4,448
Shareholders' funds 4,474 4,548
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Ravji Hirani
Director
Approved by the board on 14 February 2025
SPRINGSONS HOLDINGS LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover relates to property sales. Rental income received from tenants is shown separately.
Stocks
Stocks are measured at the lower of cost and estimated selling price.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2024 2023
£ £
Trade debtors 11,940 6,296
Other debtors 22,500 -
34,440 6,296
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank overdraft (Secured) Note 6 354,383 324,544
Trade creditors 15,425 7,133
Amounts owed to group undertakings and undertakings in which the company has a participating interest 600,000 250,000
Taxation and social security costs - 1,043
Other creditors 34,134 33,402
1,003,942 616,122
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan (Secured) Note 7 399,471 -
399,471 -
6 Bank Overdraft
Secured Bank Overdraft 354,383 324,544
Bank overdraft is secured on personal funds of Director held by the Bank.
7 Bank Loan 2024 2023
£ £
Creditors include:
Secured bank loan 399,471 -
Loan is for a Term of Five Years from November 2023, payable by equal monthly instalments. Loan is secured by way of legal charge over selected properties and floating charge over all undertakings of the Company.
8 Capital commitments
There were no capital commitments at 30 June 2024. (30 June 2023 - Nil)
9 Controlling party
The director together with his family owns 100% of the issued share capital.
10 Other information
SPRINGSONS HOLDINGS LTD is a private company limited by shares and incorporated in England. Its registered office is:
167 Beverley Drive
Edgware
Middlesex
HA8 5NJ
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