| REGISTERED NUMBER: |
| Spa Property Investments Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Freehold property | - |
| Computer equipment | - |
| 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. | TANGIBLE FIXED ASSETS |
| Freehold | Computer |
| property | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 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 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 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 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 73,713 | 80,644 |
| Deferred income |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more than 5 years |
| payable by instalments. |
| 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 |
| 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: | £ | £ |
| Ordinary | 1p | 2,550 | 2,550 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 September 2023 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 August 2024 |
| 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. |