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Unaudited Financial Statements for the Year Ended 30 September 2018 |
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Spafield Properties Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 September 2018 |
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for |
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Spafield Properties Limited |
Spafield Properties Limited (Registered number: 00511906) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Spafield Properties Limited |
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Company Information |
for the Year Ended 30 September 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
17 Appleton Court |
Calder Park |
Wakefield |
West Yorkshire |
WF2 7AR |
Spafield Properties Limited (Registered number: 00511906) |
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Balance Sheet |
30 September 2018 |
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30.9.18 | 30.9.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Spafield Properties Limited (Registered number: 00511906) |
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Balance Sheet - continued |
30 September 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Spafield Properties Limited (Registered number: 00511906) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2018 |
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1. | STATUTORY INFORMATION |
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Spafield Properties Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements present information about the company as an individual undertaking and not about it's |
group. The company and it's subsidiary undertaking comprise a small-sized group. The company has therefore |
taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group |
accounts. |
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Turnover |
Turnover represents amounts receivable for rent and services. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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Investment properties are included in the balance sheet at their open market value. Depreciation is provided only |
on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. |
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Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities |
(effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible |
assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the |
financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors |
reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be |
separately identified and quantified. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Spafield Properties Limited (Registered number: 00511906) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2017 |
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Additions |
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At 30 September 2018 |
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DEPRECIATION |
At 1 October 2017 |
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Charge for year |
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At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 October 2017 |
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Additions |
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At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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The valuation of investment properties were made by the directors on an open market value basis as at 30 |
September 2018. On a historical cost basis these would have been included at original cost at £4,344,618 (2017: |
£4,023,594) and aggregate depreciation of £Nil (2017: £Nil). |
Spafield Properties Limited (Registered number: 00511906) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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5. | INVESTMENT PROPERTY - continued |
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Fair value at 30 September 2018 is represented by: |
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£ |
Valuation in 2018 | 4,283,355 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Trade debtors |
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Other debtors |
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Bonds - Deposit Scheme | - | 650 |
VAT |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Tax | ( |
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Other creditors |
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Other Creditors | 2,281 | 2,250 |
Directors' current accounts | 5,000 | - |
Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Other loans more 5yrs non-inst | 2,282,231 | 2,284,409 |
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Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
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Repayable by instalments |
Bank loans more 5 yr by instal | 233,901 | 259,485 |
Spafield Properties Limited (Registered number: 00511906) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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9. | RELATED PARTY DISCLOSURES |
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T.S.B. Jackson and H.L. May were materially interested as directors and/or shareholders of Tom W. Beaumont |
Limited (TWB), Yorkshire Wiper Company Limited (YWC) and Spafield Holdings Limited (SH). These |
companies are all registered in England and Wales and trade with Spafield Properties Limited (SPL) on a normal |
commercial basis. |
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During the year dividends totalling £1,620 (2017: £61,620) were declared to SH including preference share |
dividends and at the year end date SPL owed SH £32,414 (2017: £33,930). |
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Northfield Properties a business under the control of Mr North (father to Mrs H L May) advanced a loan to the |
company in November 2017 of £120,000. This loan is interest bearing at a commercial rate and repayable on |
demand. |
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10. | ULTIMATE CONTROLLING PARTY |
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The company controlled by its directors T.S.B. Jackson and H.L. May. |