Spartan Investments Limited - Limited company - abbreviated

REGISTERED NUMBER: 06245223 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 APRIL 2014 TO 31 MAY 2015

FOR

SPARTAN INVESTMENTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr K R Carr

Mr L D Theodorou

SECRETARY:

Mr L D Theodorou

REGISTERED OFFICE:

Urban Land Group

Urban House 1st Floor

43 Chase Side

London

N14 5PB

REGISTERED NUMBER:

06245223 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Investment property

2

-

800,000

CURRENT ASSETS

Stocks

202,655

-

Debtors

855,692

488,540

Cash at bank and in hand

302

283

1,058,649

488,823

CREDITORS

Amounts falling due within one year

88,056

20,164

NET CURRENT ASSETS

970,593

468,659

TOTAL ASSETS LESS CURRENT
LIABILITIES

970,593

1,268,659

CREDITORS

Amounts falling due after more than one
year

3

-

492,650

NET ASSETS

970,593

776,009

CAPITAL AND RESERVES

Called up share capital

4

1

Revaluation reserve

-

468,333

Profit and loss account

970,592

307,675

SHAREHOLDERS' FUNDS

970,593

776,009

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 February 2016 and were signed on its behalf
by:

Mr L D Theodorou - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents rents receivable.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

The leases are held for long-term investment and are included in the Balance Sheet at their current market values.

The surplus or deficit on revaluation is transferred to the revaluation reserve. Depreciation is therefore not

provided on the leases and improvements.

The valuation as at 31 March 2014 was carried out by the directors. The basis of valuation was market value

subject to existing tenancies where applicable or vacant possession where applicable

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date except that:

-

deferred tax is not recognised in respect of timing differences arising on revalued properties unless the
company has entered into a binding sale agreement and is not proposing to take advantage of rollover
relief; and

-

the recognition of deferred tax assets is limited to the extent that the company anticipates to make
sufficient taxable profits in the future to absorb the reversal of underlying timing differences.

Deferred tax balances are not discounted.

2.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2014

800,000

Additions

3,091

Disposals

(803,091

)

At 31 May 2015

-

NET BOOK VALUE

At 31 May 2015

-

At 31 March 2014

800,000

3.

CREDITORS

Creditors include an amount of £ 0 (31.3.14 - £ 492,650 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.15

31.3.14

value:

£

1

Ordinary shares

1.00

1

Spartan Investments Limited - Limited company - abbreviated - 11.9

Spartan Investments Limited - Limited company - abbreviated - 11.9