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REGISTERED NUMBER: 07245619 (England and Wales)

















Spa Property Investments Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






Spa Property Investments Limited (Registered number: 07245619)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spa Property Investments Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: S S Saikhon
L Saikhon
Mrs P Saikhon
S Saikhon





REGISTERED OFFICE: 16 Earl Rivers Avenue
Heathcote
Warwick
CV34 6EN





REGISTERED NUMBER: 07245619 (England and Wales)





ACCOUNTANTS: Moffat Gilbert
Unit 12
Shottery Brook Office Park
Timothy's Bridge Road
Stratford upon Avon
Warwickshire
CV37 9NR

Spa Property Investments Limited (Registered number: 07245619)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,045,569 907,410
Investments 5 234,889 234,889
Investment property 6 197,683 197,683
1,478,141 1,339,982

CURRENT ASSETS
Debtors 7 134 3,703
Cash at bank and in hand 54,522 319,449
54,656 323,152
CREDITORS
Amounts falling due within one year 8 349,924 421,922
NET CURRENT LIABILITIES (295,268 ) (98,770 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,182,873

1,241,212

CREDITORS
Amounts falling due after more than one
year

9

(614,987

)

(651,041

)

PROVISIONS FOR LIABILITIES (1,150 ) (265 )
NET ASSETS 566,736 589,906

CAPITAL AND RESERVES
Called up share capital 11 2,550 2,550
Retained earnings 12 564,186 587,356
SHAREHOLDERS' FUNDS 566,736 589,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Spa Property Investments Limited (Registered number: 07245619)

Balance Sheet - continued
31 August 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 9 May 2025 and were signed on its behalf by:





S Saikhon - Director


Spa Property Investments Limited (Registered number: 07245619)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Spa Property Investments 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.

Preparation of consolidated financial statements
The financial statements contain information about Spa Property Investments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net management charges , excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost and at varying rates on cost
Computer equipment - 25% on reducing balance

Depreciation is charged on the cost of the buildings element only of the freehold premises. The costs of the buildings have been broken down into the main component parts and depreciation calculated on those individual component parts to write down over the remaining estimated useful life of the buildings.

Investment property
A review of freehold premises was carried out during a prior year and one property which was originally purchased for development as trading premises was reclassified as an investment property. It is possible that the property may be developed in the future for residential purposes. The directors have considered the market value of the property at the year end and are of the opinion that the cost is a fair reflection of current market value. They will carry out an annual review and make any amendments required to the value on an annual basis.

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.

Spa Property Investments Limited (Registered number: 07245619)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Operating lease income
Income received from assets on operating leases is reflected in the financial statements in the period to which it relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST
At 1 September 2023 1,047,542 2,606 1,050,148
Additions 153,618 1,455 155,073
Disposals - (649 ) (649 )
At 31 August 2024 1,201,160 3,412 1,204,572
DEPRECIATION
At 1 September 2023 141,192 1,546 142,738
Charge for year 16,132 577 16,709
Eliminated on disposal - (444 ) (444 )
At 31 August 2024 157,324 1,679 159,003
NET BOOK VALUE
At 31 August 2024 1,043,836 1,733 1,045,569
At 31 August 2023 906,350 1,060 907,410

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 September 2023
and 31 August 2024 234,889
NET BOOK VALUE
At 31 August 2024 234,889
At 31 August 2023 234,889

Spa Property Investments Limited (Registered number: 07245619)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 197,683
NET BOOK VALUE
At 31 August 2024 197,683
At 31 August 2023 197,683

As noted in the accounting policies, in a prior year one of the properties owned by the company was reclassified from land and buildings to investment property and relates to a property originally purchased for use as trading premises within the group.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 134 -
Prepayments - 3,703
134 3,703

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 35,909 33,476
Trade creditors 582 42
Amounts owed to group undertakings 200,529 266,560
Tax 5,134 2,359
Social security and other taxes 129 4,656
Other creditors 5,430 8,634
Directors' current accounts 73,713 80,644
Deferred income 2,500 2,500
Accrued expenses 25,998 23,051
349,924 421,922

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans - 1-2 years 38,845 35,897
Bank loans - 2-5 years 136,644 126,276
Bank loans more than 5 years
payable by instalments. 439,498 488,868
614,987 651,041

Spa Property Investments Limited (Registered number: 07245619)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.8.24 31.8.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
payable by instalments. 439,498 488,868
439,498 488,868

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans 650,896 684,517

National Westminster Bank PLC hold a debenture, dated 6th August 2012, and legal charges, dated 24th August 2012, over all the fixed and floating assets of the company owned both at the present time and also in the future.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
255,000 Ordinary 1p 2,550 2,550

12. RESERVES
Retained
earnings
£   

At 1 September 2023 587,356
Profit for the year 74,299
Dividends (97,469 )
At 31 August 2024 564,186

Spa Property Investments Limited (Registered number: 07245619)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

13. RELATED PARTY DISCLOSURES

The company charged Spa Motors Limited, a wholly owned subsidiary, rent amounting to £33,000 (2023 £33,000) for the use of business premises, together with a management charge for the year of £24,700.
At the year end the amount owed by Spa Property Investments Limited to the business was £163,790 (2023 £154,788).

Spa Property Investments Limited charged Clinton Garage Limited, a wholly owned subsidiary, rent of £30,000 (2023 £30,000) for the use of business premises during the year, together with a management charge of £9,500. At the year end date the balance owed to the business by Spa Property Investments Limited was £33,515 (2023 £71,884).

The company charged Baldwins Garage Limited, a wholly owned subsidiary, rent in the year of £9,600 (2023 £9,600), together with a management charge of £4,400. The balance owed to the business by Spa Property Investments Limited at the year end was £3,224 (2023 £39,888).

14. ULTIMATE CONTROLLING PARTY

Mr SS Saikhon and Mrs P K Saikhon are regarded as ultimate controlling partners by virtue of their joint majority shareholding.