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REGISTERED NUMBER: 02124206 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Spanreach Limited

Spanreach Limited (Registered number: 02124206)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spanreach Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Dr G L Bond
Mrs S Bond





SECRETARY: Mrs S Bond





REGISTERED OFFICE: Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN





BUSINESS ADDRESS: Southern Cross
Little Laver Road
Matching Green
Essex
CM17 0QB





REGISTERED NUMBER: 02124206 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Spanreach Limited (Registered number: 02124206)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,525,304 2,446,322

CURRENT ASSETS
Debtors 5 40,887 32,284
Cash at bank 772,239 828,245
813,126 860,529
CREDITORS
Amounts falling due within one year 6 77,654 110,781
NET CURRENT ASSETS 735,472 749,748
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,260,776

3,196,070

CREDITORS
Amounts falling due after more than one
year

7

(134,172

)

(154,972

)

PROVISIONS FOR LIABILITIES (327,516 ) (329,721 )
NET ASSETS 2,799,088 2,711,377

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings
- non distributable 9 1,520,652 1,490,454
Retained earnings 9 1,278,336 1,220,823
SHAREHOLDERS' FUNDS 2,799,088 2,711,377

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Spanreach Limited (Registered number: 02124206)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:





Dr G L Bond - Director


Spanreach Limited (Registered number: 02124206)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Spanreach 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income receivable including rents due for the period but not received by the balance sheet date and excluding rents received in advance relating to the following accounting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Investment property - not provided
Fixtures and fittings - not provided
Computer equipment - 33% on reducing balance

Fixtures and fittings are accounted for on a renewals basis, hence no charge for depreciation is made.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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 amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Spanreach Limited (Registered number: 02124206)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Provision is made for potential tax due on the revalued amount of the freehold property.

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.

Investment property
Investment properties are revalued annually. Surplus or deficits on individual properties are recognised through the profit and loss.

Depreciation is not provided in respect of freehold investment properties. The directors consider that this accounting policy, which represents a departure from the statutory accounting rules, is necessary to provide a true and fair view as required under financial reporting standards smaller entities (FRSSE). The financial effect of the departure from the statutory accounting rules is explained in note 5.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Investment and Computer
property fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 June 2023 2,432,591 43,126 4,026 2,479,743
Additions 6,005 - - 6,005
Revaluations 72,995 - - 72,995
At 31 May 2024 2,511,591 43,126 4,026 2,558,743
DEPRECIATION
At 1 June 2023 - 29,448 3,973 33,421
Charge for year - - 18 18
At 31 May 2024 - 29,448 3,991 33,439
NET BOOK VALUE
At 31 May 2024 2,511,591 13,678 35 2,525,304
At 31 May 2023 2,432,591 13,678 53 2,446,322

Investment properties comprise cost of £657,826 (2022 - £702,826) and revaluations of £1,774,765 (2022 - £1,871,765).

Spanreach Limited (Registered number: 02124206)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 8,822 6,010
Directors' loan accounts 32,065 26,274
40,887 32,284

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other loans 20,000 20,000
Taxation 4,419 44,223
Social security and other taxes 14,392 -
Accrued expenses 38,843 46,558
77,654 110,781

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Other loans 134,172 154,972

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
96 Ordinary A £1 96 96
4 Ordinary B £1 4 4
100 100

9. RESERVES
Retained
earnings
Retained - non
earnings distributable Totals
£    £    £   

At 1 June 2023 1,220,823 1,490,454 2,711,277
Profit for the year 87,710 87,710
Transfer (30,197 ) 30,198 1
At 31 May 2024 1,278,336 1,520,652 2,798,988

Spanreach Limited (Registered number: 02124206)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
Dr G L Bond and Mrs S Bond
Balance outstanding at start of year 26,274 8,589
Amounts advanced 39,020 37,968
Amounts repaid (33,229 ) (20,283 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,065 26,274