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REGISTERED NUMBER: 09310907 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

SP UNITS LIMITED

SP UNITS LIMITED (REGISTERED NUMBER: 09310907)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


SP UNITS LIMITED (REGISTERED NUMBER: 09310907)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 700,000 700,000

CURRENT ASSETS
Debtors 5 5,345 6,534
Cash at bank 5,632 8,526
10,977 15,060
CREDITORS
Amounts falling due within one year 6 99,943 98,750
NET CURRENT LIABILITIES (88,966 ) (83,690 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

611,034

616,310

CREDITORS
Amounts falling due after more than one
year

7

(220,209

)

(233,682

)

PROVISIONS FOR LIABILITIES (91,003 ) (88,916 )
NET ASSETS 299,822 293,712

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 277,699 277,699
Retained earnings 9 22,023 15,913
SHAREHOLDERS' FUNDS 299,822 293,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

SP UNITS LIMITED (REGISTERED NUMBER: 09310907)

BALANCE SHEET - continued
30 JUNE 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 12 March 2025 and were signed on its behalf by:




Mr D R Smith - Director



Mr J D Pitcher - Director


SP UNITS LIMITED (REGISTERED NUMBER: 09310907)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

SP Units Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09310907

Registered office: Unit 4A Shepheards Close
Aylsham Business Estate
Aylsham
Norfolk
NR11 6SZ

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.

As at 30 June 2024 the company had net current liabilities of £88,966. Included within other creditors due within one year is an amount of £7,150 due to Mr J D Pitcher, the director of the company. Also within other creditors due within one year is an amount of £69,563 due to two companies, each of which Mr J D Pitcher and Mr D R Smith are common directors. The directors will not seek repayment of these loans to the detriment of other creditors and will continue to provide the company with financial support as and when required. The directors therefore consider it appropriate to prepare the accounts on a going concern basis.

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 profit or loss.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

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

SP UNITS LIMITED (REGISTERED NUMBER: 09310907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 July 2023
and 30 June 2024 700,000
NET BOOK VALUE
At 30 June 2024 700,000
At 30 June 2023 700,000

Cost or valuation at 30 June 2024 is represented by:
£   
Valuation in 2024 700,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 335,979 335,979

The investment property was valued on an open market basis on 30 June 2024 by the company directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 696 696
Other debtors 4,649 5,838
5,345 6,534

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,951 14,430
Trade creditors 1,932 -
Taxation and social security 6,011 6,333
Other creditors 78,049 77,987
99,943 98,750

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 220,209 233,682

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 164,404 175,963

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

SP UNITS LIMITED (REGISTERED NUMBER: 09310907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2023 15,913 277,699 293,612
Profit for the year 6,110 6,110
At 30 June 2024 22,023 277,699 299,722

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be the directors, Mr J D Pitcher and Mr D R Smith, each holding 50% of the shares in the company.