Spear LGR Limited

 

(Registration number: 13031408)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	4	2,053,502	2,053,502
Other financial assets	6	494,353	444,927
Investments in joint property syndicates	5	596,152	619,805
		3,144,007	3,118,234
Current assets
Debtors	7	187,403	134,055
Cash at bank and in hand		433,975	800,929
		621,378	934,984
Creditors: Amounts falling due within one year	8	(3,367,434)	(3,712,278)
Net current liabilities		(2,746,056)	(2,777,294)
Net assets		397,951	340,940
Capital and reserves
Called up share capital		999	999
Share premium reserve		29,444	29,444
Profit and loss account		367,508	310,497
Total equity		397,951	340,940

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.

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Spear LGR Limited

 

(Registration number: 13031408)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 18 November 2025 and signed on its behalf by:
 

......................................... L Loble Director

Spear LGR Limited

 

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

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2nd Floor - Parkgates
Bury New Road Prestwich
Manchester
M25 0TL
England

These financial statements were authorised for issue by the Board on 18 November 2025.

2	Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Investment in Joint Property Syndicates

Investments in syndicates are accounted for under the equity accounting method.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Spear LGR Limited

 

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Spear LGR Limited

 

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

4	Investment properties

	2025 £
At 1 April 24	2,053,502
At 31 March 25	2,053,502

There has been no valuation of investment property by an independent valuer.

The historical cost of the property is £2,053,502

 

5	Investments in joint property syndicates

	£
Capital as at 1 April 2024	619,805
Surplus/Deficit	38,847
Repayments	(62,500)
At 31 March 2025	596,152

Spear LGR Limited

 

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

6	Other financial assets (current and non-current)

	Financial assets at cost less impairment £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2024	444,927	444,927
Additions	49,426	49,426
At 31 March 2025	494,353	494,353
Impairment
Carrying amount
At 31 March 2025	494,353	494,353

7

Debtors

Current	2025 £	2024 £
Trade debtors	33,116	30,467
Prepayments	4,287	3,589
Other debtors	150,000	99,999
	187,403	134,055

Spear LGR Limited

 

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

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	45,488	21,623
Taxation and social security	29,275	22,165
Accruals and deferred income	2,750	2,750
Other creditors	3,289,921	3,665,740
	3,367,434	3,712,278