Sparrow Capital Investments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08437640 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2023

for

Sparrow Capital Investments Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

5

DIRECTORS:

T Sparrow

Mrs D J Sparrow

REGISTERED OFFICE:

52 Richardson Crescent

Cheshunt

Waltham Cross

Hertfordshire

EN7 6WZ

REGISTERED NUMBER:

08437640 (England and Wales)

ACCOUNTANTS:

Philip T. Chave & Co

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Tangible assets

4

47,096

6,768

Investment property

5

3,460,000

3,550,000

3,507,096

3,556,768

CURRENT ASSETS

Cash at bank

521

12,595

CREDITORS

Amounts falling due within one year

574,036

516,346

NET CURRENT LIABILITIES

(573,515

)

(503,751

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,933,581

3,053,017

CREDITORS

Amounts falling due after more than one year

6

(2,130,355

)

(2,148,250

)

PROVISIONS FOR LIABILITIES

8

(62,258

)

(81,179

)

NET ASSETS

740,968

823,588

CAPITAL AND RESERVES

Called up share capital

9

202

202

Revaluation reserve

597,762

597,762

Retained earnings

143,004

225,624

SHAREHOLDERS' FUNDS

740,968

823,588

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 April 2024 and were signed on its behalf by:

T Sparrow - Director

Mrs D J Sparrow - Director

1.	STATUTORY INFORMATION

Sparrow Capital Investments 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 represents rents receivable from the rented properties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2022

12,776

Additions

56,026

At 31 July 2023

68,802

DEPRECIATION

At 1 August 2022

6,008

Charge for year

15,698

At 31 July 2023

21,706

NET BOOK VALUE

At 31 July 2023

47,096

At 31 July 2022

6,768

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2022

3,550,000

Revaluations

(90,000

)

At 31 July 2023

3,460,000

NET BOOK VALUE

At 31 July 2023

3,460,000

At 31 July 2022

3,550,000

Fair value at 31 July 2023 is represented by:

£

Valuation in 2014

133,006

Valuation in 2015

262,529

Valuation in 2016

225,467

Valuation in 2017

91,760

Valuation in 2018

(40,000

)

Valuation in 2019

(165,000

)

Valuation in 2020

90,000

Valuation in 2021

65,000

Valuation in 2022

188,101

Valuation in 2023

(90,000

)

Cost

2,699,137

3,460,000

If investment properties had not been revalued they would have been included at the following historical cost:

31.7.23

31.7.22

£

£

Cost

2,699,137

2,699,137

Investment properties were valued on current market value basis on 31 July 2023 by Mr T Sparrow who is a director .

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.7.23

31.7.22

£

£

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

2,130,355

2,148,250

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.23

31.7.22

£

£

Mortgage loans

2,130,355

2,148,250

The mortgage loans are secured on the properties concerned.

8.	PROVISIONS FOR LIABILITIES

31.7.23

31.7.22

£

£

Deferred tax

62,258

81,179

Deferred

tax

£

Balance at 1 August 2022

81,179

Provided during year

(18,921

)

Balance at 31 July 2023

62,258

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.23

31.7.22

value:

£

£

2

Ordinary

£1

2

2

100

Ordinary A

£1

100

100

100

Ordinary B

£1

100

100

202

202