2 01/04/2024 31/03/2025 2025-03-31 false false false false false false false true false false true false false false false false false false 2024-04-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 08682399 2024-04-01 2025-03-31 08682399 2025-03-31 08682399 2024-03-31 08682399 2023-04-01 2024-03-31 08682399 2024-03-31 08682399 2023-03-31 08682399 bus:Director1 2024-04-01 2025-03-31 08682399 core:WithinOneYear 2025-03-31 08682399 core:WithinOneYear 2024-03-31 08682399 core:ShareCapital 2025-03-31 08682399 core:ShareCapital 2024-03-31 08682399 core:RetainedEarningsAccumulatedLosses 2025-03-31 08682399 core:RetainedEarningsAccumulatedLosses 2024-03-31 08682399 bus:SmallEntities 2024-04-01 2025-03-31 08682399 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 08682399 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 08682399 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 08682399 bus:FullAccounts 2024-04-01 2025-03-31 08682399 core:WithinOneYear 2024-04-01 2025-03-31
Company registration number: 08682399
Liberty Springdale Limited
Unaudited filleted financial statements
31 March 2025
Liberty Springdale Limited
Contents
Statement of financial position
Notes to the financial statements
Liberty Springdale Limited
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Current assets
Stocks 168,112 142,002
Debtors 5 295 600
Cash at bank and in hand 1,252 403
_______ _______
169,659 143,005
Creditors: amounts falling due
within one year 6 ( 170,952) ( 141,363)
_______ _______
Net current (liabilities)/assets ( 1,293) 1,642
_______ _______
Total assets less current liabilities ( 1,293) 1,642
_______ _______
Net (liabilities)/assets ( 1,293) 1,642
_______ _______
Capital and reserves
Called up share capital 50,000 50,000
Profit and loss account ( 51,293) ( 48,358)
_______ _______
Shareholders (deficit)/funds ( 1,293) 1,642
_______ _______
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 September 2025 , and are signed on behalf of the board by:
Mahesh Gosrani
Director
Company registration number: 08682399
Liberty Springdale Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Scottish Provident House, 3rd Floor, 76 - 80 College Road, Harrow, Middlesex, HA1 1BQ. The principal activity of the company is that of development of land for residential purposes.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with their responsibilities as directors, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.The directors have reviewed the financial position of the company. However, with the continuing financial support from the parent undertaking by way of loans to the company which are in excess of the shareholders deficit, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least twelve months from the date of signing of these financial statements. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Development properties are stated at the lower of cost and net realisable value. Cost comprises of property price, acquisition and development costs.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Debtors
2025 2024
£ £
Other debtors 295 600
_______ _______
6. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 1,992 513
Amounts owed to group undertakings 144,000 134,000
Other creditors 24,960 6,850
_______ _______
170,952 141,363
_______ _______
The above loan from the parent undertaking is unsecured, interest free and repayable on demand.Other creditors include a loan from a connected company amounting to £23,000 (2024: £5,000) which is unsecured, interest free and repayable on demand.
7. Controlling party
In the opinion of the directors, the company is controlled by its parent undertaking, Liberty Land Limited.