Spen Assets Limited 15811540 false 2024-07-01 2025-07-31 2025-07-31 The principal activity of the company is is that of a property company. Digita Accounts Production Advanced 6.30.9574.0 true 15811540 2024-07-01 2025-07-31 15811540 2025-07-31 15811540 bus:OrdinaryShareClass1 2025-07-31 15811540 core:CurrentFinancialInstruments core:WithinOneYear 2025-07-31 15811540 core:Non-currentFinancialInstruments core:AfterOneYear 2025-07-31 15811540 bus:SmallEntities 2024-07-01 2025-07-31 15811540 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-07-31 15811540 bus:FilletedAccounts 2024-07-01 2025-07-31 15811540 bus:SmallCompaniesRegimeForAccounts 2024-07-01 2025-07-31 15811540 bus:RegisteredOffice 2024-07-01 2025-07-31 15811540 bus:Director1 2024-07-01 2025-07-31 15811540 bus:OrdinaryShareClass1 2024-07-01 2025-07-31 15811540 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-07-31 15811540 countries:England 2024-07-01 2025-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 15811540

Spen Assets Limited
Unaudited Filleted Abridged Financial Statements
for the Period from 1 July 2024 to 31 July 2025

Spen Assets Limited

Contents

Abridged Balance Sheet | 1
Notes to the Unaudited Abridged Financial Statements | 2 to 4

Spen Assets Limited

(Registration number: 15811540)
Abridged Balance Sheet as at 31 July 2025

| Note | 2025 £
Fixed assets |  |
Investment property |  | 518,802
Current assets |  |
Cash at bank and in hand |  | 100
Prepayments and accrued income |  | 54,125
Creditors: Amounts falling due within one year |  | (287,432)
Net current liabilities |  | (233,207)
Total assets less current liabilities |  | 285,595
Creditors: Amounts falling due after more than one year |  | (281,842)
Accruals and deferred income |  | (600)
Net assets |  | 3,153
Capital and reserves |  |
Called up share capital | 4 | 100
Retained earnings |  | 3,053
Shareholders' funds |  | 3,153

For the financial period ending 31 July 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 period 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 26 March 2026 and signed on its behalf by:

......................................... Mr J Spencer Director

Spen Assets Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 July 2024 to 31 July 2025

1 | General information

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

The address of its registered office is:
Victoria Mill
Alliance Street
Accrington
Lancashire
BB5 2RT

These financial statements were authorised for issue by the Board on 26 March 2026.

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 abridged 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 abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of property in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

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 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.

Spen Assets Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 July 2024 to 31 July 2025

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.

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.

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 period, was 2.

Spen Assets Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 July 2024 to 31 July 2025

4 | Share capital

Allotted, called up and fully paid shares

| 2025
| No. | £
Ordinary shares of £1 each | 100 | 100