REGISTERED NUMBER: 00331798 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Spital Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss V L Wale

REGISTERED OFFICE:

The Cruck Barn

Hollins

Old Brampton

Chesterfield

Derbyshire

S42 7JH

REGISTERED NUMBER:

00331798 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Investment property

4

2,910,000

2,805,000

CURRENT ASSETS

Debtors

5

20,417

9,492

Cash at bank

147,415

64,226

167,832

73,718

CREDITORS

Amounts falling due within one year

6

108,806

112,736

NET CURRENT ASSETS/(LIABILITIES)

59,026

(39,018

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,969,026

2,765,982

PROVISIONS FOR LIABILITIES

79,499

40,469

NET ASSETS

2,889,527

2,725,513

CAPITAL AND RESERVES

Called up share capital

3,280

3,280

Fair value reserve

7

949,591

883,621

Retained earnings

7

1,936,656

1,838,612

2,889,527

2,725,513

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 June 2025 and were signed by:

Miss V L Wale - Director

1.	STATUTORY INFORMATION

Spital Developments 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 as modified by the revaluation of certain assets.

Turnover

Turnover is the invoiced value of rents receivable during the period and is recognised in the period in which the property is occupied.

Investment property

Investment property is not depreciated but is revalued annually at it's fair value in accordance with the Financial Reporting Standard 102 (Section 1A). Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account and transferred to a fair value reserve.

Deferred taxation

Provision is made at current rates for taxation deferred in respect of all material timing differences, including provisions made for potential tax arising on assets which have been revalued.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

2,805,000

Revaluations

105,000

At 30 September 2024

2,910,000

NET BOOK VALUE

At 30 September 2024

2,910,000

At 30 September 2023

2,805,000

Fair value at 30 September 2024 is represented by:

£

Valuation in 2024

2,910,000

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

1,880,910

1,880,910

Aggregate depreciation

(605,404

)

(567,786

)

Investment property was valued on a fair value basis on 30 September 2024 by the Directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,277

3,670

Prepayments

18,140

5,822

20,417

9,492

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

41,447

26,544

Tax

36,160

33,128

Directors' current accounts

17,399

35,387

Accrued expenses

13,800

17,677

108,806

112,736

7.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 October 2023

1,838,612

883,621

2,722,233

Profit for the year

180,414

180,414

Dividends

(16,400

)

(16,400

)

Revaluation

(65,970

)

65,970

-

At 30 September 2024

1,936,656

949,591

2,886,247