Registered number
13250525
Spice Properties Ltd
Filleted Accounts
31 March 2025
Spice Properties Ltd
Registered number: 13250525
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 7,883 7,280
Investments 4 2,580,001 2,580,001
2,587,884 2,587,281
Current assets
Debtors 5 2,061 3,595
Cash at bank and in hand 21,139 18,757
23,200 22,352
Creditors: amounts falling due within one year 6 (566,256) (659,171)
Net current liabilities (543,056) (636,819)
Total assets less current liabilities 2,044,828 1,950,462
Creditors: amounts falling due after more than one year 7 (1,305,693) (1,305,693)
Provisions for liabilities (149,222) (149,017)
Net assets 589,913 495,752
Capital and reserves
Called up share capital 100 100
Profit and loss account 8 589,813 495,652
Shareholders' funds 589,913 495,752
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Collard
Director
Approved by the board on 8 April 2025
Spice Properties Ltd
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 rendering of services and rents receivable. Turnover is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 33% reducing balance
Plant and machinery 25% reducing balance
Investment property
Investment properties are measured at fair value. Changes in fair value are included in the profit and loss account.
Investments in subsidiaries
Investments in subsidiaries are measured at cost less any accumulated impairment losses. 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.
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.
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.
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 and their 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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company (including directors) 2 2
3 Tangible assets Plant & Machinery Computer equipment Total
£ £ £
Cost
At 1 April 2024 8,180 2,268 10,448
Additions - 2,836 2,836
At 31 March 2025 8,180 5,104 13,284
Depreciation
At 1 April 2024 1,736 1,432 3,168
Charge for the year 1,611 622 2,233
At 31 March 2025 3,347 2,054 5,401
Net book value
At 31 March 2024 6,444 836 7,280
At 31 March 2025 4,833 3,050 7,883
4 Investments
Investments in
subsidiary Investment
undertakings property Total
£ £ £
Fair Value
At 1 April 2024 1 2,580,000 2,580,001
At 31 March 2025 1 2,580,000 2,580,001
Historical cost
At 1 April 2024 1 1,990,000 1,990,001
At 31 March 2025 1 1,990,000 1,990,001
Investment properties are carried at fair value, determined by the directors with reference to the condition and location of the property, as well as current observable market prices. There has been no valuation of investment property by an independent valuer.
5 Debtors 2025 2024
£ £
Other debtors 2,061 3,595
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors - 3,646
Taxation and social security costs 8,634 9,029
Other creditors 557,622 646,496
566,256 659,171
7 Creditors: amounts falling due after one year 2025 2024
£ £
Loans 1,305,693 1,305,693
8 Loans 2025 2024
£ £
Creditors include:
Mortgages 1,305,693 1,305,693
Loans are secured with first fixed charges over investment properties.
9 Profit and loss account Non-distributable reserve Distributable reserve 2025 2024
£ £
At 1 April 2024 441,996 53,656 495,652 406,867
Profit for the year - 129,161 129,161 88,785
Dividends (35,000) (35,000) -
At 31 March 2025 441,996 147,817 589,813 495,652
10 Related party transactions
Amounts loaned to the company by the directors remained outstanding. At the year end, the balance owed to the directors amounted to £545,809. These loans are unsecured, and have no fixed repayment term. Interest has been charged at a rate of 5.5% on the balance owed to one director. The balance owed to other director beared no interest.

Unless otherwise stated, all transactions with related parties are conducted under normal market conditions.
11 Other information
Spice Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
74 Macrae Road
Ham Green
Bristol
BS20 0DD
Spice Properties Ltd 13250525 false 2024-04-01 2025-03-31 2025-03-31 VT Final Accounts July 2024 Mr D Collard No description of principal activity 13250525 2023-04-01 2024-03-31 13250525 core:WithinOneYear 2024-03-31 13250525 core:AfterOneYear 2024-03-31 13250525 core:ShareCapital 2024-03-31 13250525 core:RetainedEarningsAccumulatedLosses 2024-03-31 13250525 core:RevaluationReserve 2023-03-31 13250525 2024-04-01 2025-03-31 13250525 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 13250525 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 13250525 bus:Director40 2024-04-01 2025-03-31 13250525 1 2024-04-01 2025-03-31 13250525 2 2024-04-01 2025-03-31 13250525 core:Vehicles 2024-04-01 2025-03-31 13250525 core:PlantMachinery 2024-04-01 2025-03-31 13250525 countries:England 2024-04-01 2025-03-31 13250525 bus:FRS102 2024-04-01 2025-03-31 13250525 bus:FilletedAccounts 2024-04-01 2025-03-31 13250525 2025-03-31 13250525 core:WithinOneYear 2025-03-31 13250525 core:AfterOneYear 2025-03-31 13250525 core:ShareCapital 2025-03-31 13250525 core:RetainedEarningsAccumulatedLosses 2025-03-31 13250525 core:Vehicles 2025-03-31 13250525 core:PlantMachinery 2025-03-31 13250525 core:RevaluationReserve 2025-03-31 13250525 2024-03-31 13250525 core:Vehicles 2024-03-31 13250525 core:PlantMachinery 2024-03-31 13250525 core:RevaluationReserve 2024-03-31 iso4217:GBP xbrli:pure