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Registered number: 10870849









S & P UK DEVELOPMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
S & P UK DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10870849

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
391,572
391,763

Current assets
  

Debtors: amounts falling due within one year
 5 
64,760
59,742

Cash at bank and in hand
  
87
1,940

  
64,847
61,682

Creditors: amounts falling due within one year
 6 
(346,749)
(178,673)

Net current liabilities
  
 
 
(281,902)
 
 
(116,991)

Total assets less current liabilities
  
109,670
274,772

Creditors: amounts falling due after more than one year
 7 
(11,667)
(179,956)

  

Net assets
  
98,003
94,816


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
97,903
94,716

  
98,003
94,816


Page 1

 
S & P UK DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10870849
    
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 statement of comprehensive income 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 26 June 2025.




C S Bajaj
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
S & P UK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

S & P UK Developments Limited is a private limited company incorporated and domiciled in England.  Its registered office is situated at Cromwell House, 68 West Gate, Mansfield, Nottinghamshire NG18 1RR.  Its principal place of business is The James Darby Building, Byron Avenue, Lowmoor Business Park, Kirkby-in-Ashfield, Nottinghamshire NG17 7LA.
The principal activity of the company is that of property developers.

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 following principal accounting policies have been applied:

 
2.2

Going concern

At the date of approving the financial statements, there remains a degree of uncertainty surrounding the full economic impact of the cost of living pressures and the wider geopolitical environment. The directors continue to monitor the position closely, however they believe that the company will continue with a reasonable level of activity until at least June 2026 and therefore continue to adopt the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
S & P UK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Taxation

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.


 
2.5

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.

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:

Property improvements
-
10%
straight line

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.


3.


Employees

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

Page 4

 
S & P UK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Freehold property
Property improve- ments
Total

£
£
£



Cost or valuation


At 1 October 2023
390,686
1,902
392,588



At 30 September 2024

390,686
1,902
392,588



Depreciation


At 1 October 2023
-
825
825


Charge for the year on owned assets
-
191
191



At 30 September 2024

-
1,016
1,016



Net book value



At 30 September 2024
390,686
886
391,572



At 30 September 2023
390,686
1,077
391,763


5.


Debtors

2024
2023
£
£


Trade debtors
-
722

Other debtors
58,335
59,020

Prepayments and accrued income
6,425
-

64,760
59,742


Page 5

 
S & P UK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
167,117
17,993

Trade creditors
10,598
2,034

Other taxation and social security
792
7,503

Other creditors
163,901
144,858

Accruals and deferred income
4,341
6,285

346,749
178,673



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,667
179,956



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
167,117
17,993

Amounts falling due 1-2 years

Bank loans
10,000
168,290

Amounts falling due 2-5 years

Bank loans
1,667
11,667


178,784
197,950


Bank loans are secured by a legal mortgage over the property owned by the company.

Page 6

 
S & P UK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Related party transactions

The company receives financial support from other companies controlled by the directors of this company.  These loans are interest free with no fixed repayment terms. £125,843 (2023 - £123,108) was outstanding at the balance sheet date, included within other creditors falling due within one year. The company also provided financial support to companies controlled by the directors of this company. These loans are interest free with no fixed repayment terms. £56,020 (2023 - £56,020) was outstanding at the balance sheet date.

 
Page 7