ACCOUNTS - Final Accounts preparation

Registered number: 04054559

SPRINGLAKE PROPERTIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2025

SPRINGLAKE PROPERTIES LIMITED

REGISTERED NUMBER: 04054559

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		333		536
Investment property	5		955,000		955,000
			955,333		955,536
Current assets
Debtors: amounts falling due within one year	6	2,517		2,798
Cash at bank and in hand	7	118,592		123,448
		121,109		126,246
Creditors: amounts falling due within one year	8	(199,903)		(202,352)
Net current liabilities			(78,794)		(76,106)
Total assets less current liabilities			876,539		879,430
Provisions for liabilities
Deferred tax	9	(156,471)		(156,471)
			(156,471)		(156,471)
Net assets			720,068		722,959

Capital and reserves
Called up share capital	2	2
Other reserves	605,891	605,891
Profit and loss account	114,175	117,066
	720,068	722,959

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SPRINGLAKE PROPERTIES LIMITED

REGISTERED NUMBER: 04054559

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 AUGUST 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 August 2026.

S Leigh

Director

The notes on pages 3 to 8 form part of these financial statements.

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SPRINGLAKE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1.	General information

Springlake Properties Limited is a private Company, limited by shares, incorporated in the United Kingdom and registered in England and Wales (registered number 04054559). The Company's registered office adress is at 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.

The financial statements are presented in Sterling, which is the functional currency of the Company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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SPRINGLAKE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings

25%

straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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SPRINGLAKE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

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SPRINGLAKE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 September 2024	7,136
	At 31 August 2025	7,136
	Depreciation
	At 1 September 2024	6,599
	Charge for the year on owned assets	204
	At 31 August 2025	6,803
	Net book value
	At 31 August 2025	333
	At 31 August 2024	536

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 September 2024	955,000
	At 31 August 2025	955,000

The 2025 valuations were made by the directors, on an open market value for existing use basis.

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SPRINGLAKE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Debtors

					2025	2024
					£	£


Trade debtors	2,517	2,798
	2,517	2,798

7.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	118,592	123,448
	118,592	123,448

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Corporation tax	8,899	10,422
Other creditors	150,485	151,411
Accruals and deferred income	40,519	40,519
	199,903	202,352

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SPRINGLAKE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

9.	Deferred taxation

		2025
		£

	At beginning of year	(156,471)
	At end of year	(156,471)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

	Property Revaluation	(156,471)	(156,471)
		(156,471)	(156,471)

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