IRIS Accounts Production v24.3.2.46 08260229 director 1.7.23 30.6.24 30.6.24 0 0 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh082602292023-06-30082602292024-06-30082602292023-07-012024-06-30082602292022-06-30082602292022-07-012023-06-30082602292023-06-3008260229ns15:EnglandWales2023-07-012024-06-3008260229ns14:PoundSterling2023-07-012024-06-3008260229ns10:Director12023-07-012024-06-3008260229ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3008260229ns10:SmallEntities2023-07-012024-06-3008260229ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3008260229ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3008260229ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3008260229ns10:FullAccounts2023-07-012024-06-3008260229ns10:OrdinaryShareClass12023-07-012024-06-3008260229ns10:RegisteredOffice2023-07-012024-06-3008260229ns5:CurrentFinancialInstruments2024-06-3008260229ns5:CurrentFinancialInstruments2023-06-3008260229ns5:ShareCapital2024-06-3008260229ns5:ShareCapital2023-06-3008260229ns5:RetainedEarningsAccumulatedLosses2024-06-3008260229ns5:RetainedEarningsAccumulatedLosses2023-06-3008260229ns5:CostValuation2023-06-3008260229ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3008260229ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3008260229ns10:OrdinaryShareClass12024-06-30
REGISTERED NUMBER: 08260229 (England and Wales)











Sp2 Care Homes Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024






Sp2 Care Homes Limited (Registered number: 08260229)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sp2 Care Homes Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: D N Boyd





REGISTERED OFFICE: 15 Wychwood Crescent
Earley
Reading
Berkshire
RG6 5RA





REGISTERED NUMBER: 08260229 (England and Wales)





ACCOUNTANTS: Haines Watts
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Sp2 Care Homes Limited (Registered number: 08260229)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 162,932 162,932

CURRENT ASSETS
Debtors 5 292,446 291,268
Cash at bank 16,035 27,019
308,481 318,287
CREDITORS
Amounts falling due within one year 6 77,832 128,998
NET CURRENT ASSETS 230,649 189,289
TOTAL ASSETS LESS CURRENT
LIABILITIES

393,581

352,221

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 393,580 352,220
SHAREHOLDERS' FUNDS 393,581 352,221

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 director acknowledges his 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.

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 director and authorised for issue on 21 March 2025 and were signed by:





D N Boyd - Director


Sp2 Care Homes Limited (Registered number: 08260229)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Sp2 Care Homes 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.

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. Management are also required to
exercise judgment in the process of applying the company’s accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of
future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

In preparing these financial statements, the directors have made the following judgments:

- A provision is recognised when the company has a present legal or constructive obligation as a result of a
past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability.

- Whether a present obligation is probable or not requires judgment. The nature and type of risks for these provisions differ and management’s judgment is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

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.

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.


Sp2 Care Homes Limited (Registered number: 08260229)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued
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.

Fixed assets investments
The investment was a 10.345% share in The Adelaide Care Home LLP.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 162,932
NET BOOK VALUE
At 30 June 2024 162,932
At 30 June 2023 162,932

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 292,446 291,268

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 12,039 13,534
Other creditors 65,793 115,464
77,832 128,998

Sp2 Care Homes Limited (Registered number: 08260229)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


7. CALLED UP SHARE CAPITAL

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

8. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS

The amount shown in other debtors is the loan account with The Adelaide Lodge Care Home LLP. The company holds an investment and is a member of the LLP. The loan is interest free and repayable on demand.

At at 30 June 2024, the company owed £64,253 (2023 - £115,032) to Mr D N Boyd, the director of the company. The loan is interest free and repayable on demand.

The company is controlled by Mr D Boyd by virtue of his ownership of 100% of the company's issued share capital.