Spital Square Limited

(Registration number: 03298997)
Balance Sheet as at 5 April 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	4	2,500,000	2,500,000
Current assets
Debtors	5	15	4,947
Cash at bank and in hand		69,777	60,069
		69,792	65,016
Creditors: Amounts falling due within one year	6	(145,950)	(131,405)
Net current liabilities		(76,158)	(66,389)
Total assets less current liabilities		2,423,842	2,433,611
Creditors: Amounts falling due after more than one year	6	(525,000)	(525,000)
Provisions for liabilities		(354,850)	(354,697)
Net assets		1,543,992	1,553,914
Capital and reserves
Called up share capital	7	5	5
Retained earnings		1,543,987	1,553,909
Shareholders' funds		1,543,992	1,553,914

For the financial year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

Spital Square Limited

(Registration number: 03298997)
Balance Sheet as at 5 April 2025
(continued)

•	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.

Approved and authorised by the Board on 9 December 2025 and signed on its behalf by:
 

......................................... Mr S J J Wedgwood Director

Spital Square Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

1	General information

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

The address of its registered office is:
18 Princelet Street
London
E1 6QH
England

These financial statements were authorised for issue by the Board on 9 December 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.

Tax

The tax expense for the period comprises current and deferred 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.

Spital Square Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
(continued)

2	Accounting policies (continued)

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Depreciation

Asset class	Depreciation method and rate
Investment property	None

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Spital Square Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
(continued)

2	Accounting policies (continued)

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Investment properties

	2025 £
At 6 April	2,500,000
At 5 April	2,500,000

Investment property is valued on an open market basis.

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

Spital Square Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
(continued)

5

Debtors

Current	2025 £	2024 £
Trade debtors	15	4,947
	15	4,947

Spital Square Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
(continued)

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	21,145	14,865
Accruals and deferred income	124,805	116,540
	145,950	131,405

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	525,000	525,000

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	5	5	5	5

Spital Square Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
(continued)

8

Reserves

Deferred tax is provided on movements in the fair value reserve. The deferred tax charge or credit is included in the movement in the fair value reserve for the year.

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Other borrowings	525,000	525,000

Other borrowings

Shareholder loans with a carrying amount of £525,000 (2024 - £525,000) are denominated in £ with a nominal interest rate of 12.93%.

The loans are unsecured.