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Registration number: 06335495

Spartan Property Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Spartan Property Investments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Spartan Property Investments Limited

Company Information

Directors

Mr M F Keegan BA

Mr T P Keegan

Mr R E F Keegan

Company secretary

RT Secretarial Services Limited

Registered office

21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

Spartan Property Investments Limited

(Registration number: 06335495)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Investment property

5

7,333,646

5,419,469

Option to purchase property

6

141,399

141,399

Investments

7

1

1

 

7,475,046

5,560,869

Current assets

 

Debtors

8

135,343

880,967

Cash at bank and in hand

 

11,399

50,690

 

146,742

931,657

Creditors: Amounts falling due within one year

9

(7,621,787)

(117,525)

Net current (liabilities)/assets

 

(7,475,045)

814,132

Total assets less current liabilities

 

1

6,375,001

Creditors: Amounts falling due after more than one year

9

-

(6,375,000)

Net assets

 

1

1

Capital and reserves

 

Called up share capital

1

1

Shareholders' funds

 

1

1

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................
Mr M F Keegan BA
Director

   
     
 

Spartan Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. Exemption has been taken under the provisions of the Companies Act 2006 from preparing consolidated financial statements. These financial statements therefore contain information about Spartan Property Investments Limited as an individual company and do not contain consolidated financial information as a member of a group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from the rental of property in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investments

Investments in subsidiary undertakings are shown at cost less provision for impairment.

 

Spartan Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for rents invoiced in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholder is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Spartan Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

4

Taxation

2025
£

2024
£

Taxation

Corporation tax charge

760

1

Amounts paid for group loss relief received

-

16,834

760

16,835


 

 

Spartan Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Investment properties

2025
£

At 1 April 2024

5,331,267

Additions

2,002,379

At 31 March 2025

7,333,646

6

Option to purchase property

2025
£

2024
£

Option to purchase freehold

141,399

141,399

£

Cost or valuation

At 1 April 2024

141,399

Carrying amount

At 31 March 2025

141,399

At 31 March 2024

141,399

 

Spartan Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Investments

Investments
£

Total
£

Investments

Cost or valuation

At 1 April 2024

1

1

At 31 March 2025

1

1

Impairment

Carrying amount

At 31 March 2025

1

1

8

Debtors

2025
£

2024
£

Trade debtors

135,343

18,970

Amounts owed by group undertakings

-

861,997

 

135,343

880,967

 

Spartan Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Bank loans and overdrafts

6,375,000

-

Trade creditors

2,870

4,162

Amounts owed to group undertakings

822,996

-

Taxation and social security

49,520

8,319

Accruals and deferred income

347,580

65,612

Other creditors

23,821

39,432

7,621,787

117,525

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

10

-

6,375,000

10

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

-

6,375,000

Current loans and borrowings

2025
£

2024
£

Bank borrowings

6,375,000

-

Bank borrowings are secured by fixed and floating charges over the assets of the company and fellow group undertakings.

11

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of £287,576.00 (2024 - £348,173.00) per each Ordinary share

287,576

348,173