Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302023-10-01falseOther letting and operating of own or leased real estate42falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10309727 2023-10-01 2024-09-30 10309727 2022-10-01 2023-09-30 10309727 2024-09-30 10309727 2023-09-30 10309727 c:Director1 2023-10-01 2024-09-30 10309727 c:Director2 2023-10-01 2024-09-30 10309727 c:RegisteredOffice 2023-10-01 2024-09-30 10309727 d:Buildings 2023-10-01 2024-09-30 10309727 d:Buildings 2024-09-30 10309727 d:Buildings 2023-09-30 10309727 d:Buildings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 10309727 d:PlantMachinery 2023-10-01 2024-09-30 10309727 d:PlantMachinery 2024-09-30 10309727 d:PlantMachinery 2023-09-30 10309727 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 10309727 d:MotorVehicles 2023-10-01 2024-09-30 10309727 d:MotorVehicles 2024-09-30 10309727 d:MotorVehicles 2023-09-30 10309727 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 10309727 d:OfficeEquipment 2023-10-01 2024-09-30 10309727 d:OfficeEquipment 2024-09-30 10309727 d:OfficeEquipment 2023-09-30 10309727 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 10309727 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 10309727 d:FreeholdInvestmentProperty 2023-10-01 2024-09-30 10309727 d:FreeholdInvestmentProperty 2024-09-30 10309727 d:FreeholdInvestmentProperty 2023-09-30 10309727 d:FreeholdInvestmentProperty 2 2023-10-01 2024-09-30 10309727 d:CurrentFinancialInstruments 2024-09-30 10309727 d:CurrentFinancialInstruments 2023-09-30 10309727 d:Non-currentFinancialInstruments 2024-09-30 10309727 d:Non-currentFinancialInstruments 2023-09-30 10309727 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 10309727 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 10309727 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 10309727 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 10309727 d:ShareCapital 2024-09-30 10309727 d:ShareCapital 2023-09-30 10309727 d:OtherMiscellaneousReserve 2024-09-30 10309727 d:OtherMiscellaneousReserve 2023-09-30 10309727 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 10309727 d:RetainedEarningsAccumulatedLosses 2024-09-30 10309727 d:RetainedEarningsAccumulatedLosses 2023-09-30 10309727 c:OrdinaryShareClass1 2023-10-01 2024-09-30 10309727 c:OrdinaryShareClass1 2024-09-30 10309727 c:FRS102 2023-10-01 2024-09-30 10309727 c:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 10309727 c:FullAccounts 2023-10-01 2024-09-30 10309727 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10309727 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-10-01 2024-09-30 10309727 2 2023-10-01 2024-09-30 10309727 4 2023-10-01 2024-09-30 10309727 6 2023-10-01 2024-09-30 10309727 f:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10309727










SPARROW GREEN LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
SPARROW GREEN LTD
 
 
COMPANY INFORMATION


Directors
T R Cross 
Mrs L V Cross 




Registered number
10309727



Registered office
7 The Close

Norwich

Norfolk

NR1 4DJ




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
SPARROW GREEN LTD
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 11


 
SPARROW GREEN LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SPARROW GREEN LTD
FOR THE YEAR ENDED 30 SEPTEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sparrow Green Ltd for the year ended 30 September 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Sparrow Green Ltd, as a body, in accordance with the terms of our engagement letter dated 7 September 2020Our work has been undertaken solely to prepare for your approval the financial statements of Sparrow Green Ltd and state those matters that we have agreed to state to the Board of directors of Sparrow Green Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sparrow Green Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Sparrow Green Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sparrow Green Ltd. You consider that Sparrow Green Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Sparrow Green Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
28 April 2025
Page 1

 
SPARROW GREEN LTD
REGISTERED NUMBER: 10309727

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
481,509
392,057

Investments
 5 
10,050
2,550

Investment property
 6 
12,311,000
12,078,853

  
12,802,559
12,473,460

Current assets
  

Stocks
  
2,000
2,700

Debtors: amounts falling due within one year
 7 
97,998
101,806

Cash at bank and in hand
  
202,495
203,385

  
302,493
307,891

Creditors: amounts falling due within one year
 8 
(386,764)
(479,206)

Net current liabilities
  
 
 
(84,271)
 
 
(171,315)

Total assets less current liabilities
  
12,718,288
12,302,145

Creditors: amounts falling due after more than one year
 9 
(396,958)
(165,586)

Provisions for liabilities
  

Deferred tax
  
(1,070,056)
(1,032,022)

Net assets
  
11,251,274
11,104,537


Capital and reserves
  

Called up share capital 
 10 
100
100

Fair value reserve
 11 
4,267,676
4,173,163

Profit and loss account
 11 
6,983,498
6,931,274

  
11,251,274
11,104,537


Page 2

 
SPARROW GREEN LTD
REGISTERED NUMBER: 10309727
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 April 2025.




T R Cross
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
SPARROW GREEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales.  The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. The principal place of business is The Old Dairy, Park Farm, Gressenhall, Dereham, Norfolk, NR19 2QL.
The Company's principal activity is that of the investment in and letting of residential and commercial property. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax. Rental income is recognised on an accruals basis. 

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
SPARROW GREEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
SPARROW GREEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Land and Buildings
-
10%
Plant and machinery
-
20%
Motor vehicles
-
25%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and loss account.

 
2.11

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
SPARROW GREEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

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 and loans to related parties. 

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 2).

Page 7

 
SPARROW GREEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Land and buildings
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost


At 1 October 2023
309,411
78,132
49,131
4,179
440,853


Additions
36,335
45,169
74,449
857
156,810


Disposals
-
(4,400)
-
-
(4,400)



At 30 September 2024

345,746
118,901
123,580
5,036
593,263



Depreciation


At 1 October 2023
18,557
26,072
1,024
3,141
48,794


Charge for the year on owned assets
20,945
16,080
27,899
676
65,600


Disposals
-
(2,640)
-
-
(2,640)



At 30 September 2024

39,502
39,512
28,923
3,817
111,754



Net book value



At 30 September 2024
306,244
79,389
94,657
1,219
481,509



At 30 September 2023
290,853
52,060
48,107
1,038
392,058


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 October 2023
2,550


Additions
7,500



At 30 September 2024
10,050




Page 8

 
SPARROW GREEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
12,078,854


Additions at cost
165,079


Disposals
(215,000)


Surplus on revaluation
282,067



At 30 September 2024
12,311,000

The 2024 valuations were made by T R Cross, a director, on an open market value for existing use basis.




2024
2023
£
£


Historic cost
7,006,089
7,041,262

7,006,089
7,041,262


7.


Debtors

2024
2023
£
£


Trade debtors
46,135
39,402

Other debtors
26,940
16,489

Prepayments and accrued income
24,923
45,915

97,998
101,806


Page 9

 
SPARROW GREEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
30,320
63,275

Corporation tax
77,393
36,595

Other creditors
186,575
287,887

Accruals and deferred income
92,476
91,449

386,764
479,206



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
396,958
165,586

396,958
165,586


Page 10

 
SPARROW GREEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100



11.


Reserves

Fair value reserve
The fair value reserve represents the cumulative value of revaluations of the Company's investments properties to fair value, net of deferred tax. The amounts debited or credited to this reserve are transfers from the profit and loss account. Deferred tax is provided for on these fair value adjustments at the standard rate of corporation tax applicable in the UK.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.


12.


Related party transactions

At 30 September 2024, the company owed a director £19,638 (2023: £Nil). The loan is interest free and repayable on demand.
                                                                                                            

 
Page 11