Spenvale Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02884888 (England and Wales)

SPENVALE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Annable

G N S S Walley

Mrs K L Brooks

Mrs A C M Rhodes

SECRETARY:

G N S S Walley

REGISTERED OFFICE:

Beauchamp House

402-403 Stourport Road

Kidderminster

Worcestershire

DY11 7BG

REGISTERED NUMBER:

02884888 (England and Wales)

AUDITORS:

Worton Rock Limited

Chartered Accountants and Statutory Auditor

Churchfield House

36 Vicar Street

Dudley

West Midlands

DY2 8RG

BANKERS:

Lloyds TSB Bank Plc

1 Vicar Street

Kidderminster

Worcestershire

DY10 1DH

FIXED ASSETS

Investments

4

2,321,058

2,004,036

Investment property

5

8,897,025

8,897,025

11,218,083

10,901,061

CURRENT ASSETS

Debtors

6

463,810

500,481

Cash at bank

272,546

113,874

736,356

614,355

CREDITORS

Amounts falling due within one year

7

252,192

252,438

NET CURRENT ASSETS

484,164

361,917

TOTAL ASSETS LESS CURRENT LIABILITIES

11,702,247

11,262,978

CAPITAL AND RESERVES

Called up share capital

8

27,800

27,800

Property revaluation reserve

9

4,260,436

4,260,436

Capital redemption reserve

13,901

13,901

Retained earnings

7,400,110

6,960,841

SHAREHOLDERS' FUNDS

11,702,247

11,262,978

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 Board of Directors and authorised for issue on 6 December 2021 and were signed on its behalf by:

G N S S Walley - Director

1.	STATUTORY INFORMATION

Spenvale 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Listed investments

Listed investments which are publicly traded are stated at their fair value at each balance sheet date. Any gain or loss on revaluation to fair value is recognised in the income statement.

Going concern

The Directors recognise that the ongoing coronavirus pandemic will have an impact on the value of investments and income streams in the short term but at the time of approving the accounts the Directors' have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 7 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2020

2,004,036

Disposals

(366

)

Revaluations

317,388

At 31 March 2021

2,321,058

NET BOOK VALUE

At 31 March 2021

2,321,058

At 31 March 2020

2,004,036

Cost or valuation at 31 March 2021 is represented by:

£

Valuation of listed shares

2,312,278

Cost of unlisted shares

8,780

2,321,058

If the fixed asset investments had not been valued they would have been included at the following historical cost.

2020

2019

£

£

Cost

2,335,394

2,335,761

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

and 31 March 2021

8,897,025

NET BOOK VALUE

At 31 March 2021

8,897,025

At 31 March 2020

8,897,025

Fair value at 31 March 2021 is represented by:

£

Valuation in 2020

4,260,436

Cost

4,636,589

8,897,025

If investment property had not been revalued it would have been included at the following historical cost:

2021

2020

£

£

Cost

4,636,589

4,636,589

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

127,334

113,732

Harris Allday - on account

4,516

100,112

Fisher German client account

130,659

142,958

Other debtors

71,266

103,918

Prepayments and accrued income

130,035

39,761

463,810

500,481

Within other debtors are amounts due over 1 year of £49,425

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

-

190

Corporation tax

75,494

102,015

Social security and other taxes

37,696

8,885

Accrued expenses and deferred income

139,002

141,348

252,192

252,438

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

13,900

Ordinary W

£1

13,900

13,900

13,900

Ordinary A

£1

13,900

13,900

27,800

27,800

Both A & W shares carry equal voting rights and rank pari passu in all respects but do constitute separate classes of shares.

9.

RESERVES

Property

revaluation

reserve

£

At 1 April 2020

and 31 March 2021

4,260,436

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Burrows (Senior Statutory Auditor)

for and on behalf of Worton Rock Limited

11.	RELATED PARTY DISCLOSURES

Dividends were paid in the year to directors and close family members of £301,346 (2020 - £568,336).