Spinningfields Square Investments Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: 04246426

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,000,000		-

			2,000,000		-
CURRENT ASSETS
Debtors	5	51,971		37,900

		51,971		37,900
Creditors: Amounts Falling Due Within One Year	6	(2,060,526 )		(2,079,306 )

NET CURRENT ASSETS (LIABILITIES)			(2,008,555 )		(2,041,406 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(8,555 )		(2,041,406 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	7		(500,000 )		-

NET LIABILITIES			(508,555 )		(2,041,406 )

CAPITAL AND RESERVES
Called up share capital	8		1		1
Income Statement			(508,556 )		(2,041,407 )

SHAREHOLDERS' FUNDS			(508,555)		(2,041,406)

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Spinningfields Square Investments Limited

Statement of Financial Position (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr Suresh Gorasia

Director

24 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Spinningfields Square Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04246426 . The registered office is C/O Allied London, Suite 1, Bonded Warehouse, 18 Lower Byrom Street, Manchester, Greater Manchester, M3 4AP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 2.3).

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

2.2. Going Concern Disclosure

The directors have assessed the financial performance and note that as at 31 December 2024 the company had net liabilities of £508,555 (2023: £2,041,406) and made a profit after taxation for the financial year of £1,532,851 (2023: £49,032).

Management has undertaken a thorough group going concern review which has included forecasts from 12 months from signing date of the financial statements to ensure the company will continue to be able to meet its liabilities for the next year from the signing date of the accounts. The forecasts included some sensitivity on the income obtained.

The board considers that the company will be able to continue to trade as a going concern and meet its liabilities as they fall due.

2.3. Significant judgements and estimations

In preparing these financial statements, the directors consider that there are no significant judgements in applying the accounting policies. Nor are there any key sources of uncertainty.

2.4. Turnover

Turnover comprises the invoiced value of goods and services supplied by the Company, net of Value Added Tax and trade discounts and is predominantly rental income.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

2.6. Investment Properties

All investment properties are carried at fair value determined annually 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. Acquisitions and disposals of properties are recognised where binding contracts have been exchanged during the year, providing completion takes place prior to approval of the accounts.

No depreciation is provided for. Changes in fair value are recognised in the income statement.

2.7. Financial Instruments

Financial assets

Financial assets, other than investments and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at cost, less any impairment.

Financial liabilities and equity

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities, excluding convertible debt and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost.

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Spinningfields Square Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Taxation

Deferred Taxation

Deferred balances are recognised in respect of all timing differences that have originated but not reversed by the statement of financial position date, except:

• 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;

• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

• Where timing differences relate to interests in subsidiaries, associates, branches and joint ventures and the group can control their reversal and such reversal is not considered probable in the foreseeable future.

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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2023: 4)

4. Tangible Assets

	Investment Properties
	£
Cost or Valuation
As at 1 January 2024	-
Revaluation	2,000,000

As at 31 December 2024	2,000,000

Net Book Value
As at 31 December 2024	2,000,000

As at 1 January 2024	-

The directors, who have significant experience in the valuation of similar real estate, have given a fair value on an existing use basis of £2,000,000 (2023: £nil) for the investment properties as at 31 December 2024. A surplus on revaluation of £2,000,000 (2023: £nil) was reported in the 31 December 2024 Statement of Comprehensive Income.

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	51,971	35,685
Other debtors	-	2,215

	51,971	37,900

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Amounts owed to group undertakings	1,972,018	2,020,348
Other creditors	88,508	58,958

	2,060,526	2,079,306

The amounts due to group undertakings are repayable on demand and not interest bearing.

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Spinningfields Square Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	500,000	-

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

9. Financial Instruments

The company considers that the fair value of cash and cash equivalents, loans, trade and other receivables, and trade and other payables are not materially different to their carrying value. There are no financial instruments recorded at fair value through profit and loss.

10. Related Party Transactions

The company has taken advantage of the exemption allowed by Financial Reporting Standard 102, "Related party disclosures" Section 33.1A not to disclose details of related party transactions with entities that are included in the consolidated financial statements of Capital Holdco Limited and are 100% owned. There are no other related party transactions other than as disclosed.

11. Ultimate Controlling Party

The company's immediate parent is Allied London Properties Limited . The directors consider the ultimate parent company to be Capital Holdco Limited, a company registered in the British Virgin Islands.

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