Spinnaker Tower Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12366674 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Spinnaker Tower Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M R P Dunkley FCA

REGISTERED OFFICE:

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

REGISTERED NUMBER:

12366674 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Investment property

4

1,000,000

919,326

CURRENT ASSETS

Debtors

5

4,893

15,714

Cash at bank

53,833

28,349

58,726

44,063

CREDITORS

Amounts falling due within one year

6

501,416

502,426

NET CURRENT LIABILITIES

(442,690

)

(458,363

)

TOTAL ASSETS LESS CURRENT LIABILITIES

557,310

460,963

PROVISIONS FOR LIABILITIES

15,328

-

NET ASSETS

541,982

460,963

CAPITAL AND RESERVES

Called up share capital

7

100

100

Revaluation reserve

8

65,346

-

Retained earnings

476,536

460,863

SHAREHOLDERS' FUNDS

541,982

460,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 June 2022 and were signed by:

M R P Dunkley FCA - Director

1.	STATUTORY INFORMATION

Spinnaker Tower Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2021

919,326

Revaluations

80,674

At 31 December 2021

1,000,000

NET BOOK VALUE

At 31 December 2021

1,000,000

At 31 December 2020

919,326

Fair value at 31 December 2021 is represented by:

£

Valuation in 2021

80,674

Cost

919,326

1,000,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

-

10,821

Other debtors

4,793

4,793

Called up share capital not paid

100

100

4,893

15,714

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Other loans

491,615

491,615

Tax

3,730

1,330

Other creditors

6,071

9,481

501,416

502,426

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Revaluation

reserve

£

Assets revalued in period

65,346

At 31 December 2021

65,346