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Registration number: 07638659

Spencer Property Limited

Director's Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Spencer Property Limited

(Registration number: 07638659)

Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Investments

3

3

3

Creditors: Amounts falling due within one year

4

(1)

(1)

Net assets

 

2

2

Capital and reserves

 

Called up share capital

1

1

Capital redemption reserve

1

1

Shareholders' funds

 

2

2

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.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 22 July 2025
 

.........................................

N J Spencer

Director

 

Spencer Property Limited

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

1

Accounting policies

Statutory information

Spencer Property Limited is a private company, limited by shares, domiciled in England and Wales, company number 07638659. The registered office is at 469 Ecclesall Road, Sheffield, S11 8PP.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Going concern

After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 0).

 

Spencer Property Limited

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

3

Investments

Subsidiaries

£

Cost

At 1 April 2024 and 31 March 2025

3

Carrying amount

At 31 March 2025

3

At 31 March 2024

3

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2025

2024

Subsidiary undertakings

Spencers Agents Limited

469 Ecclesall Road Sheffield S11 8PP

United Kingdom

Ordinary

100%

100%

Subsidiary undertakings

Spencers Agents Limited

The principal activity of Spencers Agents Limited is that of estate agents and residential lettings.

4

Creditors

2025
£

2024
£

Due within one year

Other creditors

1

1

 

Spencer Property Limited

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

5

Related party transactions

Employee-Ownership Trust
On 31 July 2024 the entire share capital of the company was acquired by Spencers Trust Limited ("the Trust"). The Trust holds the shares for the future benefit of the group's employees. The funding for the transaction (and associated costs) was partially achieved through an initial contribution by the group. The balance of the transaction was funded by the previous owner. The loan due to the previous owner of the group are an obligation of the Trust and so the liability for future payments have not been recognised by the company.

The director is of the opinion that de-facto control does not exist and therefore has excluded the assets and liabilities of the Trust from these financial statements.