Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Mr S R Carter 05/10/1991 Mr M J Spencer 05/10/1991 29 May 2025 The principal activity of the Company during the financial year was letting of own property. 00793791 2025-03-31 00793791 bus:Director1 2025-03-31 00793791 bus:Director2 2025-03-31 00793791 2024-03-31 00793791 core:CurrentFinancialInstruments 2025-03-31 00793791 core:CurrentFinancialInstruments 2024-03-31 00793791 core:ShareCapital 2025-03-31 00793791 core:ShareCapital 2024-03-31 00793791 core:RevaluationReserve 2025-03-31 00793791 core:RevaluationReserve 2024-03-31 00793791 core:RetainedEarningsAccumulatedLosses 2025-03-31 00793791 core:RetainedEarningsAccumulatedLosses 2024-03-31 00793791 core:LandBuildings 2024-03-31 00793791 core:PlantMachinery 2024-03-31 00793791 core:LandBuildings 2025-03-31 00793791 core:PlantMachinery 2025-03-31 00793791 bus:OrdinaryShareClass1 2025-03-31 00793791 2024-04-01 2025-03-31 00793791 bus:FilletedAccounts 2024-04-01 2025-03-31 00793791 bus:SmallEntities 2024-04-01 2025-03-31 00793791 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 00793791 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 00793791 bus:Director1 2024-04-01 2025-03-31 00793791 bus:Director2 2024-04-01 2025-03-31 00793791 core:PlantMachinery core:TopRangeValue 2024-04-01 2025-03-31 00793791 2023-04-01 2024-03-31 00793791 core:LandBuildings 2024-04-01 2025-03-31 00793791 core:PlantMachinery 2024-04-01 2025-03-31 00793791 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 00793791 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00793791 (England and Wales)

SPENCER-CARTER (PROPERTIES) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

SPENCER-CARTER (PROPERTIES) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

SPENCER-CARTER (PROPERTIES) LIMITED

BALANCE SHEET

As at 31 March 2025
SPENCER-CARTER (PROPERTIES) LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 2,200,000 4,000,000
2,200,000 4,000,000
Current assets
Debtors 4 10,013 17,068
Cash at bank and in hand 171,896 113,283
181,909 130,351
Creditors: amounts falling due within one year 5 ( 86,189) ( 83,127)
Net current assets 95,720 47,224
Total assets less current liabilities 2,295,720 4,047,224
Provision for liabilities ( 371,577) ( 821,577)
Net assets 1,924,143 3,225,647
Capital and reserves
Called-up share capital 6 1,000 1,000
Revaluation reserve 1,566,674 2,916,674
Profit and loss account 356,469 307,973
Total shareholder's funds 1,924,143 3,225,647

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 financial statements of Spencer-Carter (Properties) Limited (registered number: 00793791) were approved and authorised for issue by the Board of Directors on 29 May 2025. They were signed on its behalf by:

Mr S R Carter
Director
SPENCER-CARTER (PROPERTIES) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
SPENCER-CARTER (PROPERTIES) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Spencer-Carter (Properties) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 8 Tregoniggie Industrial Estate, Falmouth, TR11 4SN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the rental of property is recognised when the rents are due.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Properties are held at fair value at the date of valuation less subsequent depreciation and impairment.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a gain reverses a previously recognised loss, or a loss exceeds the accumulated gains in equity.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 April 2024 4,000,000 2,650 4,002,650
Revaluations ( 1,800,000) 0 ( 1,800,000)
At 31 March 2025 2,200,000 2,650 2,202,650
Accumulated depreciation
At 01 April 2024 0 2,650 2,650
At 31 March 2025 0 2,650 2,650
Net book value
At 31 March 2025 2,200,000 0 2,200,000
At 31 March 2024 4,000,000 0 4,000,000

The Directors engaged Miller Commercial (surveyors) to undertake a valuation of the company premises on 10 July 2024. The valuation of the land and buildings was £2,200,000. This updated the previous valuations by the Directors.

4. Debtors

2025 2024
£ £
Trade debtors 1,273 9,443
Other debtors 8,740 7,625
10,013 17,068

5. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 0 8,111
Amounts owed to directors 1,126 1,660
Accruals 2,100 1,970
Taxation and social security 63,756 52,179
Other creditors 19,207 19,207
86,189 83,127

6. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000