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REGISTERED NUMBER: 09343167 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 December 2021

for

SP Business Management Ltd

SP Business Management Ltd (Registered number: 09343167)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 5


SP Business Management Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTOR: S H Pennington





SECRETARY: J K Pennington





REGISTERED OFFICE: 16 Dalmore Road
West Dulwich
London
SE21 8HB





REGISTERED NUMBER: 09343167 (England and Wales)






SP Business Management Ltd (Registered number: 09343167)

Report of the Director
for the Year Ended 31 December 2021

The director presents his report with the financial statements of the company for the year ended 31 December 2021.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of business management and accountancy services.

DIRECTOR
S H Pennington held office during the whole of the period from 1 January 2021 to the date of this report.

DONATIONS
During the year the company made charitable donations totalling £2,275 (2020: £275). This includes £1,900 (2021: £NIL) to The Truants and other smaller donations of less than £500 each to other charities totalling £375 (£2020: £275). The donations were made as these are causes which the company believes in and supports.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S H Pennington - Director


5 September 2022

SP Business Management Ltd (Registered number: 09343167)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,912 4,247

CURRENT ASSETS
Debtors 5 10,553 61,428
Cash at bank 6 41,915 41,363
52,468 102,791
CREDITORS
Amounts falling due within one year 7 86,477 124,089
NET CURRENT LIABILITIES (34,009 ) (21,298 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(31,097

)

(17,051

)

PROVISIONS FOR LIABILITIES 8 553 807
NET LIABILITIES (31,650 ) (17,858 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (31,750 ) (17,958 )
SHAREHOLDERS' FUNDS (31,650 ) (17,858 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SP Business Management Ltd (Registered number: 09343167)

Balance Sheet - continued
31 December 2021


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2022 and were signed by:





S H Pennington - Director


SP Business Management Ltd (Registered number: 09343167)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

SP Business Management Ltd 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the normal amount received is recognised as interest income.

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

Tangible Assets are sated at cost less accumulated depreciation.

Office Equipment - 25% straight line.

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

SP Business Management Ltd (Registered number: 09343167)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and other third parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

SP Business Management Ltd (Registered number: 09343167)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Going concern
The accounts are prepared on the going concern basis as the director has confirmed their financial support of the company.

Debtors and creditors
Short term debtors, classified as receivable in one year, are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term creditors, classified as payable in one year, are measured at the transaction price. Other financial liabilities including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Impairment of non-financial instruments
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date. The carrying amount of each item of inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of elated assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

SP Business Management Ltd (Registered number: 09343167)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 6,264
DEPRECIATION
At 1 January 2021 2,017
Charge for year 1,335
At 31 December 2021 3,352
NET BOOK VALUE
At 31 December 2021 2,912
At 31 December 2020 4,247

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 9,390 61,428
Other debtors 1,163 -
10,553 61,428

6. CASH AT BANK

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings under current liabilities.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 2,270 (1,000 )
Taxation and social security 21,973 22,383
Other creditors 62,234 102,706
86,477 124,089

8. PROVISIONS FOR LIABILITIES
31.12.21 31.12.20
£    £   
Deferred tax
Accelerated capital allowances 553 807

SP Business Management Ltd (Registered number: 09343167)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2021 807
Credit to Statement of Income and Retained Earnings during
year

(254

)
Balance at 31 December 2021 553

9. RELATED PARTY DISCLOSURES

Director, who is also a person with significant control and influence.


In the year the company repaid the director £13,211. At the balance sheet date the company owed the director £43,522 (2020: £56,733). The amount is classified as a current creditor and is repayable on demand, no interest is charged on amounts owed to the director.