Spring Properties (Sidcup) Limited

FINANCIAL STATEMENTS

for the year ended 5th April 2025

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Spring Properties (Sidcup) Limited

Company No. 03338706

STATEMENT OF FINANCIAL POSITION

as at 5th April 2025

| 2025 |  | 2024
| Note | £ |  | £ |  | £
FIXED ASSETS
Property, plant and equipment | 4 |  |  | 1820466 |  | 1582071
|  |  |  | 1820466 |  | 1582071
CURRENT ASSETS
Debtors | 5 | 25897 |  |  |  | 800
Cash at bank and in hand |  | 25249 |  |  |  | 283327
|  | 51146 |  |  |  | 284127
CURRENT LIABILITIES
Creditors: amounts falling due
within one year | 6 | 20441 |  |  |  | 52558
NET CURRENT ASSETS |  |  |  | 30705 |  | 231569
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  |  | 1851171 |  | 1813640
Creditors: amounts falling due
after more than one year | 7 |  |  | 26022 |  | 26022
NET ASSETS |  |  |  | 1825149 |  | 1787618
CAPITAL AND RESERVES
Called up share capital |  |  |  | 100 |  | 100
Revaluation reserve |  |  |  | 705713 |  | 705713
Retained earnings |  |  |  | 1119336 |  | 1081805
SHAREHOLDERS FUNDS |  |  |  | 1825149 |  | 1787618

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 5th April 2025 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 9 October 2025

J P Spring

Director

Company Number 03338706 (England)

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Spring Properties (Sidcup) Limited

NOTES TO THE ACCOUNTS

for the year ended 5th April 2025

1 Statutory information

Spring Properties (Sidcup) Limited is a private company limited by shares and registered under company number 03338706 in England. Its registered office address is 15 Rowanwood Avenue, Sidcup, Kent. DA15 8WL.

These financial statements are presented in Sterling, which is the functional currency of the company.

2 Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles | 15% reducing balance

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

3 Employee information

The average number of employees during the accounting period was 2 (2024 - 2).

4 Property, plant and equipment
|  |  |  |  |  |  | Plant |  |
|  |  |  |  | Land and |  | and |  |
|  |  |  |  | Buildings |  | Machinery |  | Total
|  |  |  |  | £ |  | £ |  | £
Cost
At 6th April 2024 |  |  |  |  | 1495155 |  | 159552 |  | 1654707
Additions |  |  |  |  | 218782 |  | 26342 |  | 245124
At 5th April 2025 |  |  |  |  | 1713937 |  | 185894 |  | 1899831
Depreciation
At 6th April 2024 |  |  |  |  | - |  | 72636 |  | 72636
Charge for year |  |  |  |  | - |  | 6729 |  | 6729
At 5th April 2025 |  |  |  |  | - |  | 79365 |  | 79365
Net Book Value
At 5th April 2025 |  |  |  |  | 1713937 |  | 106529 |  | 1820466
At 5th April 2024 |  |  |  |  | 1495155 |  | 86916 |  | 1582071

If the freehold land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

Freehold and Long leasehold land and buildings: | 2025 |  | 2024
| £ |  | £
Historical cost | 1488397 |  | 1270155
Cumulative depreciation based on historical cost | - |  | -
Net Book Value | 1488397 |  | 1270155

The freehold land and buildings were revalued to £1713937 by the Directors on 5th April 2025, on an open market basis. The directors are not aware of any material change in value since the date of the valuation.

5 Debtors | 2025 |  | 2024
| £ |  | £
Trade Debtors | 920 |  | 800
Other debtors | 24977 |  | -
| 25897 |  | 800

6 Creditors: amounts falling due within one year | 2025 |  | 2024
| £ |  | £
Corporation tax | 7018 |  | 34036
Other creditors | 13423 |  | 18522
| 20441 |  | 52558

7 Creditors: amounts falling due after one year | 2025 |  | 2024
| £ |  | £
Other creditors | 26022 |  | 26022
| 26022 |  | 26022

8 Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

| 2025 |  | 2024
| £ |  | £
J P Spring | 2075 |  | 7340
| 2075 |  | 7340

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