Recover previous version of calc spreadsheet? ("Always create backup copy" enabled)

Hey guys. I know there are similar questions to this one but I found many of them to be a bit convoluted, so I thought I’d start a fresh question.

I just want instructions regarding the recovery of the previous version of my spreadsheet.
As the title suggests, “always create backup copy” is enabled, so I just need to know how to retrieve the backup.

I am running version 4.3.7.2 on OSX lion, if that matters.

Look in the directory set as your backup directory in LibreOffice | Options | LibreOffice | Paths (I think that is where it is on a Mac) for a file the same name as the file to recover, but with a .bak extension.

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UPDATE:
You may find this Mac FAQ useful for LO related things.

I can’t seem to find the backup directory, I can’t even find a “libreoffice” file other than the actual application itself. Therefore I can’t access the “options” section as you advised.

Have tried a spotlight search, as well as searching the Hard Drive. The only things that come up are libreoffice documents I have made and the application itself. Not sure where to go to find the “options” folder…

On MacOSX it’s not the menu Tools → Options but File → Preferences or some such. Within the application of course… and in that Options/Preferences dialog there’s LibreOffice → Paths from which you take the backup path.

Thanks for the input.
I only assumed the backup folder was stored separately from the application due to previous experience with other applications.
Could someone please confirm the path to reach the “options/preferences dialog”? It isn’t through file > preferences

First hit if you start to type tools options into the search bar here… LibreOffice → Preferences.