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REGISTERED NUMBER: 02194539 (England and Wales)















SPRUCE LIMITED

Unaudited Financial Statements for the Year Ended 30 June 2018






SPRUCE LIMITED (REGISTERED NUMBER: 02194539)






Contents of the Financial Statements
for the year ended 30 June 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPRUCE LIMITED

Company Information
for the year ended 30 June 2018







DIRECTORS: S R Pavey
Mrs S J Pavey
G McKenzie





SECRETARY: C Shepherd





REGISTERED OFFICE: 15-19 Pound Lane
Epsom
Surrey
KT19 8LY





REGISTERED NUMBER: 02194539 (England and Wales)





ACCOUNTANTS: Tudor John LLP
Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ

SPRUCE LIMITED (REGISTERED NUMBER: 02194539)

Balance Sheet
30 June 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,730 21,234

CURRENT ASSETS
Stocks 5 700 194
Debtors 6 177,705 217,801
Cash at bank and in hand 222,544 275,968
400,949 493,963
CREDITORS
Amounts falling due within one year 7 181,242 276,987
NET CURRENT ASSETS 219,707 216,976
TOTAL ASSETS LESS CURRENT
LIABILITIES

235,437

238,210

CREDITORS
Amounts falling due after more than one
year

8

-

(2,037

)

PROVISIONS FOR LIABILITIES (528 ) (1,191 )
NET ASSETS 234,909 234,982

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 234,809 234,882
SHAREHOLDERS' FUNDS 234,909 234,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

SPRUCE LIMITED (REGISTERED NUMBER: 02194539)

Balance Sheet - continued
30 June 2018


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 12 November 2018 and were signed on its behalf
by:





S R Pavey - Director


SPRUCE LIMITED (REGISTERED NUMBER: 02194539)

Notes to the Financial Statements
for the year ended 30 June 2018

1. STATUTORY INFORMATION

Spruce 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.

The financial statements are presented in Sterling which is the functional currency of the company.

The financial statements have been prepared on a going concern basis.

TURNOVER
Turnover represents the invoiced amount of goods sold and services provided during the year, stated net of 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.
Fixtures and fittings - 35% on reducing balance
Motor vehicles - 25% on reducing balance

STOCKS
Stocks are stated at the lower of cost and net realisable value. Stocks include furniture, fixtures and office
equipment which is surplus to contract work and is used until it can be utilised on future contracts.

Work in progress is measured at recoverable sales value within debtors as amounts recoverable on contracts.

FINANCIAL INSTRUMENTS
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,
as either financial assets, financial liabilities or equity instruments.

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.

SPRUCE LIMITED (REGISTERED NUMBER: 02194539)

Notes to the Financial Statements - continued
for the year ended 30 June 2018

2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

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.

AMOUNTS RECOVERABLE ON CONTRACTS
Included within trade debtors are amounts recoverable on contracts, which represents the recoverable sales value
of unbilled time on contracts that commenced during the year but which were not complete at the end of the
financial period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2017
and 30 June 2018 62,769 62,109 124,878
DEPRECIATION
At 1 July 2017 60,815 42,829 103,644
Charge for year 684 4,820 5,504
At 30 June 2018 61,499 47,649 109,148
NET BOOK VALUE
At 30 June 2018 1,270 14,460 15,730
At 30 June 2017 1,954 19,280 21,234

5. STOCKS
2018 2017
£    £   
Stocks 140 194
Work-in-progress 560 -
700 194

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 131,603 135,820
Amounts recoverable on contract 1,569 77,490
Other debtors 44,533 4,491
177,705 217,801

SPRUCE LIMITED (REGISTERED NUMBER: 02194539)

Notes to the Financial Statements - continued
for the year ended 30 June 2018

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Hire purchase contracts 2,037 4,677
Trade creditors 61,752 176,165
Taxation and social security 30,580 21,054
Other creditors 86,873 75,091
181,242 276,987

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Hire purchase contracts - 2,037

9. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Hire purchase contracts 2,037 6,714

The hire purchase contracts are secured on the assets concerned.

10. RELATED PARTY DISCLOSURES

Throughout the year the company was controlled by Mr and Mrs S Pavey, directors of this company, and
directors and shareholders of the parent company.

During the year a management fee of £40,000 (2017 - £Nil) was charged to Spruce Investments Limited

During the year rent of £13,500 (2017 - £13,500) was charged by Spruce Investments Limited.