REGISTERED NUMBER: 04785999 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SPANISH PROPERTIES ASSETS MANAGEMENT

LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Report of the Accountants

5

DIRECTORS:

J Donohoe

M Jones

G Powling

D Corgat

T E Cullen

SECRETARY:

G Powling

REGISTERED OFFICE:

1 Waterside

Station Road

Harpenden

Hertfordshire

AL5 4US

REGISTERED NUMBER:

04785999 (England and Wales)

ACCOUNTANTS:

LBCA Ltd

1 Waterside

Station Road

Harpenden

Hertfordshire

AL5 4US

CURRENT ASSETS

Stocks

187,065

196,144

Debtors

4

-

270

Cash at bank

2,155

4,379

189,220

200,793

CREDITORS

Amounts falling due within one year

5

656,045

655,498

NET CURRENT LIABILITIES

(466,825

)

(454,705

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(466,825

)

(454,705

)

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

(466,945

)

(454,825

)

SHAREHOLDERS' FUNDS

(466,825

)

(454,705

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2025 and were signed on its behalf by:

J Donohoe - Director

1.	STATUTORY INFORMATION

Spanish Properties Assets Management Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling using an average exchange rate. Exchange differences are taken into account in arriving at the operating result.

Going concern

The accounts have been prepared on a going concern basis on the assumption that the main creditors have agreed not to seek repayment of amounts owing to them until the company has sufficient funds to do so.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

270

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other creditors

656,045

655,498

6.	RELATED PARTY DISCLOSURES

At the year end the company owed £473,443 to directors and their related companies (2023: £472,093).

At the year end, the company owed a shareholder £120,578 (2023: £120,078).

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2024 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

LBCA Ltd

1 Waterside

Station Road

Harpenden

Hertfordshire

AL5 4US

26 September 2025