Spa Gardens Investments Limited - Period Ending 2020-11-30

Spa Gardens Investments Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Spa Gardens Investments Limited

Company Information

Directors

Mr S Ahsani Mr W P Harford

Registered office

6 Chesterfield Gardens London W1J 5BQ

Accountants

Aventus Partners Limited Hygeia Building Ground Floor 66-68 College Road Harrow Middlesex HA1 1BE

Spa Gardens Investments Limited

(Registration number: 10498138)
Balance Sheet as at 30 November 2020

	Note	2020 £	(As restated) 2019 £
Current assets
Debtors	4	685,003	863,097
Investments	5	12	11
		685,015	863,108
Creditors: Amounts falling due within one year	6	(1,138,042)	(1,336,691)
Net liabilities		(453,027)	(473,583)
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(453,127)	(473,683)
Shareholders' deficit		(453,027)	(473,583)

For the financial year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 August 2021 and signed on its behalf by:
 

......................................... Mr W P Harford Director

Spa Gardens Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Chesterfield Gardens
London
W1J 5BQ
England

These financial statements were authorised for issue by the Board on 20 August 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is dependent on continuing finance being made available by its parent company and the company directors to enable it to continue operating and to meet its debts as they fall due. The parent company and the company directors have agreed to provide sufficient funds for these purposes for at least 12 months from the date that these accounts are approved by the directors. The directors believe it is therefore appropriate to prepare the financial statements on a going concern.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3	Staff numbers

The average monthly number of persons employed by the company (including directors) during the year, was 2 (2019: 2).

Spa Gardens Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2020 (continued)

4

Debtors

	Note	2020 £	2019 £
Amounts owed by related parties	8	-	29,989
Other debtors		635,003	833,108
Corporation tax recoverable		50,000	-
Total current trade and other debtors		685,003	863,097

5	Current asset investments

	2020 £	2019 £
Other investments	12	11

6

Creditors

Creditors: amounts falling due within one year

	Note	2020 £	2019 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8	823,537	1,040,301
Other creditors		306,045	288,230
Accrued expenses		8,460	8,160
		1,138,042	1,336,691

7	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Spa Gardens Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2020 (continued)

8	Related party transactions

Summary of transactions with other related parties

There is a loan balance due to LRE Capital Limited, a company controlled by the Director Mr S Ahsani, of £306,045 (2019: 288,230) within other creditors. This balance is repayable on demand.

At the balance sheet date there is a balance due from Mr W Harford of £ Nil (2019:105,703l) as a short term loan within other debtors. This balance is repayable on demand.

The company has taken advantage of the exemptions available in FRS102 section 1A from disclosing related party transaction with other companies that are wholly owned within the group

9	Parent undertaking

The company's immediate parent is Right Concept Investments Limited, incorporated in British Virgin Islands.