Acorah Software Products - Accounts Production 16.1.300 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 12483932 Gurtej Gill Jasdeep Gill iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12483932 2023-07-31 12483932 2024-07-31 12483932 2023-08-01 2024-07-31 12483932 frs-core:CurrentFinancialInstruments 2024-07-31 12483932 frs-core:Non-currentFinancialInstruments 2024-07-31 12483932 frs-core:InvestmentPropertyIncludedWithinPPE 2024-07-31 12483932 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 12483932 frs-core:RevaluationReserve 2023-08-01 2024-07-31 12483932 frs-core:RevaluationReserve 2024-07-31 12483932 frs-core:ShareCapital 2024-07-31 12483932 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 12483932 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12483932 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 12483932 frs-bus:SmallEntities 2023-08-01 2024-07-31 12483932 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 12483932 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12483932 frs-bus:Director1 2023-08-01 2024-07-31 12483932 frs-bus:Director2 2023-08-01 2024-07-31 12483932 frs-countries:EnglandWales 2023-08-01 2024-07-31 12483932 2022-07-31 12483932 2023-07-31 12483932 2022-08-01 2023-07-31 12483932 frs-core:CurrentFinancialInstruments 2023-07-31 12483932 frs-core:Non-currentFinancialInstruments 2023-07-31 12483932 frs-core:RevaluationReserve 2023-07-31 12483932 frs-core:ShareCapital 2023-07-31 12483932 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 12483932
Spinwoods Group Holdings Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Nijjer Accountants Ltd
Chartered Accountants
5-7 Station Road
Longfield
Kent
DA3 7QD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12483932
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 250,882 217,030
250,882 217,030
CURRENT ASSETS
Debtors 5 356,352 418,667
Cash at bank and in hand 11,765 9,276
368,117 427,943
Creditors: Amounts Falling Due Within One Year 6 (397,642 ) (425,626 )
NET CURRENT ASSETS (LIABILITIES) (29,525 ) 2,317
TOTAL ASSETS LESS CURRENT LIABILITIES 221,357 219,347
Creditors: Amounts Falling Due After More Than One Year 7 (224,051 ) (224,051 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,632 ) -
NET LIABILITIES (5,326 ) (4,704 )
CAPITAL AND RESERVES
Called up share capital 8 20 20
Revaluation reserve 9 11,220 -
Profit and Loss Account (16,566 ) (4,724 )
SHAREHOLDERS' FUNDS (5,326) (4,704)
Page 1
Page 2
For the year ending 31 July 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Gurtej Gill
Director
10 December 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Spinwoods Group Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12483932 . The registered office is 5-7 Station Road, Longfield, Kent, DA3 7QD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the
significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold over 50 years
2.4. Investment Properties
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.5. 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 andtheir 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.
2.6. 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.
2.7. 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.
2.8. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 1 August 2023 230,882
Additions 20,000
Depreciation and impairment -
As at 31 July 2024 250,882
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 250,882 -
Accumulated depreciation and impairment 19,270 -
Carrying amount 231,612 -
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 535 -
Called up share capital not paid 20 20
Amounts owed by group undertakings 355,797 418,647
356,352 418,667
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax - 731
Other creditors 74,059 54,058
Accruals and deferred income 1,917 1,917
Directors' loan accounts 312,838 360,092
Amounts owed to group undertakings 8,828 8,828
397,642 425,626
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 224,051 224,051
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8. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 20 20
Amount of Allotted, Called Up Share Capital 20 20
9. Reserves
Revaluation Reserve
£
Surplus on revaluation 11,220
As at 31 July 2024 11,220
10. Related Party Transactions
Included in Debtors is an amount for £355,797.07 owed by the following companies ,The director, Mr Gurtej Gill is also the director and controlling party of following companies;
Spinwoods Ltd - £14,500 (2023 - £34,500)
Spinney Capital Ltd - £200,000 (2023 - £200,000)
Spiwnoods Homes Ltd - £141,297.07 (2023 - £184,146.57)
Included in Creditors is an amount for £8,827.58 owed to following companies ,The director, Mr Gurtej Gill is also the director and controlling party of following companies;
Spiwnoods Homes Ltd - £8,827.58 (2023 - £8,827.58)
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