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

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

SPRACKLEN LIMITED - Company Information

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REGISTERED NUMBER: 02076281 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2018

FOR

SPRACKLEN LIMITED
SPRACKLEN LIMITED (REGISTERED NUMBER: 02076281)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SPRACKLEN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2018







DIRECTORS: Mr J F Spracklen
Mrs A Spracklen
Mrs V A Spracklen





SECRETARY: Mrs A Spracklen





REGISTERED OFFICE: Moreton Farm
Moreton Lane
Northmoor, Witney
Oxfordshire
OX29 5SY





REGISTERED NUMBER: 02076281 (England and Wales)





ACCOUNTANTS: Richardson Jones
Chartered Accountants
Mercury House
19-21 Chapel Street
Marlow
Buckinghamshire
SL7 3HN
Page 1
SPRACKLEN LIMITED (REGISTERED NUMBER: 02076281)

BALANCE SHEET
31ST MARCH 2018

31.3.18 31.3.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 2,626,691 2,512,566
2,626,691 2,512,566

CURRENT ASSETS
Debtors 6 109,918 120,997
Cash at bank 20,667 31,338
130,585 152,335
CREDITORS
Amounts falling due within one year 7 24,527 42,153
NET CURRENT ASSETS 106,058 110,182
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,732,749
2,622,748

CREDITORS
Amounts falling due after more than one
year
8
160,819
168,611
NET ASSETS 2,571,930 2,454,137

CAPITAL AND RESERVES
Called up share capital 645,000 645,000
Retained earnings 10 1,926,930 1,809,137
SHAREHOLDERS' FUNDS 2,571,930 2,454,137

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27th December 2018 and were signed on its behalf
by:



Mrs V A Spracklen - Director


The notes form part of these financial statements

Page 2
SPRACKLEN LIMITED (REGISTERED NUMBER: 02076281)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2018

1. STATUTORY INFORMATION

Spracklen 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 received, excluding value added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 25% on cost

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

Investment properties
The accounting treatment of investment properties is dealt with in accordance with the Financial Reporting
Standards for Smaller Entities (effective June 2002). The properties are included in the balance sheet at their
open market value, no depreciation being provided.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1st April 2017 7,398 7,405 14,803
Disposals (2,768 ) - (2,768 )
At 31st March 2018 4,630 7,405 12,035
DEPRECIATION
At 1st April 2017 7,398 7,405 14,803
Eliminated on disposal (2,768 ) - (2,768 )
At 31st March 2018 4,630 7,405 12,035
NET BOOK VALUE
At 31st March 2018 - - -
At 31st March 2017 - - -


Page 3 continued...
SPRACKLEN LIMITED (REGISTERED NUMBER: 02076281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2018

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2017 2,512,566
Revaluations 114,125
At 31st March 2018 2,626,691
NET BOOK VALUE
At 31st March 2018 2,626,691
At 31st March 2017 2,512,566

Fair value at 31st March 2018 is represented by:

£   
Valuation in 2018 2,626,691

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

31.3.18 31.3.17
£    £   
Cost 1,231,140 1,231,140

The investment properties were valued on an open market basis on 31st March 2018 by the company directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade debtors 8,476 22,726
Amounts due from connected company 95,000 95,000
Prepayments 6,442 3,271
109,918 120,997

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Bank loans and overdrafts 6,778 5,145
Tax 7,834 12,377
Social security and other taxes 414 886
Other creditors - 4,420
Directors' current accounts 5,741 13,865
Accruals & deferred income 3,760 5,460
24,527 42,153

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.18 31.3.17
£    £   
Bank loan 1-2 years 12,957 9,253
Bank loan 2-5 years 40,798 29,932
Bank loans more 5 yr by instal 107,064 129,426
160,819 168,611

Page 4 continued...
SPRACKLEN LIMITED (REGISTERED NUMBER: 02076281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2018

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.18 31.3.17
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 107,064 129,426

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.18 31.3.17
£    £   
Bank loans 167,597 173,756

The amount owed to the company's bankers is secured by a legal mortgage over the leasehold property at 2
Cameron House, Court Road, Maidenhead, Berkshire.

10. RESERVES

Reserves are made up as follows:-

Distributable reserves £531,379
Non Distributable reserves £1,395,551

11. RELATED PARTY DISCLOSURES

During the year, a shareholder Mr G Spracklen, lived in one of the company's investment properties rent free.
Market rent of £7,800 (2017 : £6,000) per annum was included in the company's turnover and profit for the year.
This amount has been treated as a dividend distribution.

Page 5