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Registered number: 10947567
Spot The Dave Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Optimise Accountants Ltd
Office 15 Bramley House, 2a Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10947567
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,596 4,493
Investment Properties 5 2,009,999 2,009,999
Investments 6 190 190
2,013,785 2,014,682
CURRENT ASSETS
Debtors 7 3,983 -
Cash at bank and in hand 958 6,213
4,941 6,213
Creditors: Amounts Falling Due Within One Year 8 (342,673 ) (343,682 )
NET CURRENT ASSETS (LIABILITIES) (337,732 ) (337,469 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,676,053 1,677,213
Creditors: Amounts Falling Due After More Than One Year 9 (1,512,684 ) (1,513,550 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (36,395 ) (36,395 )
NET ASSETS 126,974 127,268
CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 161,786 161,786
Profit and Loss Account (34,912 ) (34,618 )
SHAREHOLDERS' FUNDS 126,974 127,268
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Miss Davinder Sanghera
Director
27/03/2025
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
Spot The Dave Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10947567 . The registered office is 58 Burns Way, Hounslow, London, England, TW5 9BA.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. 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:
Fixtures & Fittings 20% reducing balance basis
2.5. Investment Properties
All Investment properties are measured at fair value determined annually and adjusted if necessary for any difference in the nature, location or condition of the specific asset. The fair value of property was obtained from an online property resource company and has not been based on a valuation by an independent valuer with a professional qualification.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 April 2023 8,603
As at 31 March 2024 8,603
Depreciation
As at 1 April 2023 4,110
Provided during the period 897
As at 31 March 2024 5,007
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 3,596
As at 1 April 2023 4,493
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 2,009,999
6. Investments
Unlisted
£
Cost
As at 1 April 2023 190
As at 31 March 2024 190
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 190
As at 1 April 2023 190
7. Debtors
2024 2023
£ £
Due within one year
Director's loan account 3,983 -
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security - 5,602
Other creditors 112 2,526
Director's loan account 83,287 72,613
Amounts owed to group undertakings 259,274 262,941
342,673 343,682
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,512,684 1,513,550
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Page 5
10. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
The below bank loans are secured on the investment properties. They are interest only with a term of 25 years.
2024 2023
£ £
Bank loans and overdrafts - 1,513,550
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Reserves
Fair Value Reserve
£
As at 1 April 2023 161,786
As at 31 March 2024 161,786
13. Related Party Transactions
Included in Creditors is an amount for £259,274 (2023:£262,941) owed to the subsidiary company Spot The Deal Ltd, which is a company registered in England & Wales. The director Miss Davinder Sanghera is also a director of Spot The Deal Ltd.
14. Ultimate Controlling Party
The company's ultimate controlling party is Davinder Sanghera by virtue of her ownership of 100% of the issued share capital in the company.
Page 5