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Registered number: 04913100










SPRINGRANGE PROPERTY INVESTMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2024



 
SPRINGRANGE PROPERTY INVESTMENTS LIMITED
REGISTERED NUMBER: 04913100

BALANCE SHEET
AS AT 30 JUNE 2024

30 June
31 March
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
120
160

Investment property
 5 
700,000
700,000

  
700,120
700,160

Current assets
  

Debtors: amounts falling due within one year
 6 
12,398
12,389

Cash at bank and in hand
 7 
717
119

  
13,115
12,508

Creditors: amounts falling due within one year
 8 
(20,598)
(27,214)

Net current liabilities
  
 
 
(7,483)
 
 
(14,706)

Total assets less current liabilities
  
692,637
685,454

  

Net assets
  
692,637
685,454


Capital and reserves
  

Called up share capital 
 11 
100
100

Investment property reserve
 12 
(52,945)
(52,945)

Profit and loss account
 12 
745,482
738,299

  
692,637
685,454


Page 1

 
SPRINGRANGE PROPERTY INVESTMENTS LIMITED
REGISTERED NUMBER: 04913100

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D E C Tossell
Director

Date: 20 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SPRINGRANGE PROPERTY INVESTMENTS LIMITED
 

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

1.ACCOUNTING POLICIES

 
1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
1.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
SPRINGRANGE PROPERTY INVESTMENTS LIMITED
 

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

1.ACCOUNTING POLICIES (CONTINUED)

 
1.4

CURRENT AND DEFERRED TAXATION

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
1.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.6

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually from the current market rents and
investment property yields for comparable real estate, adjusted if necessary for any difference in the
nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value
are recognised in the Statement of Income and Retained Earnings.

Page 4

 
SPRINGRANGE PROPERTY INVESTMENTS LIMITED
 

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

1.ACCOUNTING POLICIES (CONTINUED)

 
1.7

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.8

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.9

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.10

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 Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Page 5

 
SPRINGRANGE PROPERTY INVESTMENTS LIMITED
 

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

1.ACCOUNTING POLICIES (CONTINUED)


1.10
FINANCIAL INSTRUMENTS (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
1.11

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


GENERAL INFORMATION

Springrange Property Investments Limited is a limited company incorporated in England and Wales. The Company’s registered office address is The Stables, Little Coldharbour Farm, Tong Lane, Lamberhurst, Tunbridge Wells, Kent, TN3 8AD.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the period was 1 (2023 - 1).

Page 6

 
SPRINGRANGE PROPERTY INVESTMENTS LIMITED
 

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

4.


TANGIBLE FIXED ASSETS







Office equipment

£



Cost or valuation


At 1 April 2023
850



At 30 June 2024

850



Depreciation


At 1 April 2023
690


Charge for the period on owned assets
40



At 30 June 2024

730



Net book value



At 30 June 2024
120



At 31 March 2023
160


5.


INVESTMENT PROPERTY





Investment property

£



Valuation


At 1 April 2023
700,000



At 30 June 2024
700,000

The 2024 valuations were made by the Director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

30 June
31 March
2024
2023
£
£


Historic cost
765,364
765,364

Page 7

 
SPRINGRANGE PROPERTY INVESTMENTS LIMITED
 

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

6.


DEBTORS

30 June
31 March
2024
2023
£
£


Deferred taxation
12,398
12,389



7.


CASH AND CASH EQUIVALENTS

30 June
31 March
2024
2023
£
£

Cash at bank and in hand
717
119



8.


CREDITORS: Amounts falling due within one year

30 June
31 March
2024
2023
£
£

Trade creditors
2,736
-

Taxation and social security
1,692
23,221

Director's loan account
13,471
213

Other creditors
2,699
3,780

20,598
27,214



9.


FINANCIAL INSTRUMENTS

30 June
31 March
2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
718
119




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

Page 8

 
SPRINGRANGE PROPERTY INVESTMENTS LIMITED
 

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

10.


DEFERRED TAXATION






2024


£






At beginning of year
12,389


Charged to profit or loss
8



At end of year
12,397

The deferred tax asset is made up as follows:

30 June
31 March
2024
2023
£
£


Accelerated capital allowances
(22)
(30)

Movement in fair value
12,419
12,419

12,397
12,389


11.


SHARE CAPITAL

30 June
31 March
2024
2023
£
£
Allotted, called up and fully paid



90 (2023 - 90) Ordinary shares of £1.00 each
90
90
5 (2023 - 5) Deferred A shares of £1.00 each
5
5
5 (2023 - 5) Deferred B shares of £1.00 each
5
5

100

100



12.


RESERVES

Investment property revaluation reserve

Undistributable reserves includes the movement in the fair value of the investment property.

Profit & loss account

Includes all current and prior period retained profits and losses from trading.


Page 9