Spice Properties Ltd - Filleted accounts

Registered number

13250525

Spice Properties Ltd

Filleted Accounts

31 March 2026

Spice Properties Ltd
Registered number:		13250525
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		5,656			7,883
Investments	4		2,480,001			2,580,001
			2,485,657			2,587,884

Current assets
Debtors	5	4,031			2,061
Cash at bank and in hand		15,764			21,139
		19,795			23,200

Creditors: amounts falling due within one year	6	(451,874)			(566,256)

Net current liabilities			(432,079)			(543,056)

Total assets less current liabilities			2,053,578			2,044,828

Creditors: amounts falling due after more than one year	7		(1,305,693)			(1,305,693)

Provisions for liabilities			(123,914)			(149,222)


Net assets			623,971			589,913

Capital and reserves
Called up share capital			100			100
Profit and loss account	8		623,871			589,813

Shareholders' funds			623,971			589,913

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.



Mr D Collard
Director
Approved by the board on 7 August 2026

Spice Properties Ltd
Notes to the Accounts
for the year ended 31 March 2026

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).

	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:

	Office equipment		33% reducing balance
	Plant and machinery		25% reducing balance

	Investment property
	Investment properties are measured at fair value. Changes in fair value are included in the profit and loss account.

	Investments in subsidiaries
	Investments in subsidiaries are measured at cost less any accumulated impairment losses. 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				2026		2025
Number						Number

	Average number of persons employed by the company (including directors)				2		2


3	Tangible assets		Plant & Machinery		Computer equipment		Total
£				£		£
	Cost
	At 1 April 2025		8,180		5,104		13,284
	At 31 March 2026		8,180		5,104		13,284

	Depreciation
	At 1 April 2025		3,347		2,054		5,401
	Charge for the year		1,209		1,018		2,227
	At 31 March 2026		4,556		3,072		7,628

	Net book value
	At 31 March 2025		4,833		3,050		7,883
	At 31 March 2026		3,624		2,032		5,656


4	Investments


Investments in
subsidiary				Investment
undertakings				property		Total
£				£		£
	Fair Value
	At 1 April 2025		1		2,580,000		2,580,001
	Revaluation		-		(100,000)		(100,000)
	At 31 March 2026		1		2,480,000		2,480,001

	Historical cost
	At 1 April 2025		1		1,990,000		1,990,001
	At 31 March 2026		1		1,990,000		1,990,001

	Investment properties are carried at fair value, determined by the directors with reference to the condition and location of the property, as well as current observable market prices. There has been no valuation of investment property by an independent valuer.


5	Debtors				2026		2025
£						£

	Other debtors				4,031		2,061


6	Creditors: amounts falling due within one year				2026		2025
£						£

	Trade creditors				3,990		-
	Taxation and social security costs				5,752		8,634
	Other creditors				442,132		557,622
					451,874		566,256


7	Creditors: amounts falling due after one year				2026		2025
£						£

	Loans				1,305,693		1,305,693


8	Loans				2026		2025
£						£
	Creditors include:

	Mortgages				1,305,693		1,305,693

	Loans are secured with first fixed charges over investment properties.


9	Profit and loss account	Non-distributable reserve	Distributable reserve		2026		2025
£						£

	At 1 April 2025	441,996	147,817		589,813		495,652

	Profit for the year	(75,000)	109,058		34,058		129,161
	Dividends		-		-		(35,000)

	At 31 March 2026	366,996	256,875		623,871		589,813


10	Related party transactions

	Amounts loaned to the company by the directors remained outstanding. At the year end, the balance owed to the directors amounted to £432,193. These loans are unsecured, and have no fixed repayment term. Interest has been charged at a rate of 5.5% on the balance owed to one director. The balance owed to other director beared no interest. Unless otherwise stated, all transactions with related parties are conducted under normal market conditions.


11	Other information

	Spice Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	74 Macrae Road
	Ham Green
	Bristol
	BS20 0DD