Spangross Limited - Filleted accounts

Registered number

01251401

Spangross Limited

Filleted Accounts

31 March 2025

Spangross Limited
Registered number:		01251401
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		2,272			-
Investments	4		1,845,000			3,240,309
			1,847,272			3,240,309

Current assets
Debtors	5	708,704			86,892
Cash at bank and in hand		339,013			243,982
		1,047,717			330,874

Creditors: amounts falling due within one year	6	(48,207)			(35,619)

Net current assets			999,510			295,255

Total assets less current liabilities			2,846,782			3,535,564


Provisions for liabilities			(252,182)			(351,046)

Net assets			2,594,600			3,184,518

Capital and reserves
Called up share capital			113			113
Share premium			246,776			246,776
Revaluation reserve	7		1,208,729			2,098,455
Profit and loss account			1,138,982			839,174

Shareholders' funds			2,594,600			3,184,518

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Hugh Smith
Director
Approved by the board on 10 December 2025

Spangross Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, 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:

	Freehold buildings	Not depreciated
	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			2		2


3	Tangible fixed assets
						Plant and machinery etc
£
	Cost
	At 1 April 2024					18,640
	Additions					3,029
	At 31 March 2025					21,669

	Depreciation
	At 1 April 2024					18,640
	Charge for the year					757
	At 31 March 2025					19,397

	Net book value
	At 31 March 2025					2,272


4	Investments
Investments in
subsidiary			Other
undertakings			investments		Total
£			£		£
	Cost
	At 1 April 2024	100		3,240,209		3,240,309
	Additions	-		9,144		9,144
	Disposals and valuation movement	(100)		(1,404,353)		(1,404,453)

	At 31 March 2025	-		1,845,000		1,845,000

	Historical cost
	At 1 April 2024	100		1,141,754
	At 31 March 2025	-		636,271

	Investment property is shown at estimated current market values as at the year end ascertained by Mr Hugh Smith, a director of the company.


5	Debtors			2025		2024
£					£

	Rentals due and prepayments			34,672		35,392
	Construction loan			509,000		-
	Sale proceeds receivable			165,032		-
	Other debtors			-		51,500
				708,704		86,892


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Rental business creditors			9,500		5,000
	Amounts owed to group undertakings and undertakings in which the company has a participating interest			-		100
	Taxation and social security costs			30,150		15,000
	Directors loan accounts			20		5,461
	Rents in advance			8,537		10,058
				48,207		35,619


7	Revaluation reserve			2025		2024
£					£

	At 1 April 2024			2,098,455		2,098,455
	Eliminated on disposal and revaluation of investment properties			(889,726)		-

	At 31 March 2025			1,208,729		2,098,455


8	Deferred tax			2025		2024
£					£

	At 1 April 2024			351,046		351,046
	Deferred taxation movement arising on property revaluation			(98,864)		-

	At 31 March 2025			252,182		351,046

9	Related party transactions

	The company has lent £509,000 to the Smith family as a short term construction loan. The amount was repaid on 25 November 2025, and interest at the official rate of 2.25% is charged on the amounts lent until repaid.


10	Controlling party

	Mr Hugh Smith controls the company.


11	Other information

	Spangross Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Manor House
	Coleshill Road
	Fazeley
	B78 3SA