Registered number
07370482
SPICE CREEK LIMITED
Filleted Accounts
31 May 2022
SPICE CREEK LIMITED
Registered number: 07370482
Balance Sheet
as at 31 May 2022
Notes 2022 2020
£ £
Fixed assets
Tangible assets 4 14,370 51,073
Investments 5 100 100
14,470 51,173
Current assets
Stocks - 750
Debtors 6 5,339 10,014
Cash at bank and in hand 729 49,731
6,068 60,495
Creditors: amounts falling due within one year 7 (3,130) (50,522)
Net current assets 2,938 9,973
Net assets 17,408 61,146
Capital and reserves
Called up share capital 100 100
Profit and loss account 17,308 61,046
Shareholders' funds 17,408 61,146
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Syed Shelim Hayder Ali
Director
Approved by the board on 8 June 2022
SPICE CREEK LIMITED
Notes to the Accounts
for the period from 1 December 2020 to 31 May 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Goodwill 10% straight line
Leasehold land and buildings improvement Nil
Fixtures, fittings, tools and equipment 15% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2022 2020
Number Number
Average number of persons employed by the company 2 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2020 5,000
At 31 May 2022 5,000
Amortisation
At 1 December 2020 5,000
At 31 May 2022 5,000
Net book value
At 31 May 2022 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2020 14,370 114,718 129,088
Disposals - (114,718) (114,718)
At 31 May 2022 14,370 - 14,370
Depreciation
At 1 December 2020 - 78,015 78,015
On disposals - (78,015) (78,015)
At 31 May 2022 - - -
Net book value
At 31 May 2022 14,370 - 14,370
At 30 November 2020 14,370 36,703 51,073
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 December 2020 100
At 31 May 2022 100
6 Debtors 2022 2020
£ £
Trade debtors - 1,675
Other debtors 5,339 8,339
5,339 10,014
7 Creditors: amounts falling due within one year 2022 2020
£ £
Trade creditors - 2,533
Taxation and social security costs - 30,389
Other creditors 3,130 17,600
3,130 50,522
8 Other information
SPICE CREEK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
20 Merton Road
Ilford
Essex
IG3 8PB
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