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REGISTERED NUMBER: 02536420 (England and Wales)















SPENCER MANUFACTURING HOLDINGS LIMITED

Financial Statements for the Year Ended 31 December 2021






SPENCER MANUFACTURING HOLDINGS LIMITED (REGISTERED NUMBER: 02536420)






Contents of the Financial Statements
for the year ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


SPENCER MANUFACTURING HOLDINGS LIMITED

Company Information
for the year ended 31 December 2021







Director: D G Hawkins





Secretary: R D Phillips





Registered office: Ludlow Business Park
Sheet Road
Ludlow
Shropshire
SY8 1XF





Registered number: 02536420 (England and Wales)





Auditors: Haines Watts Birmingham LLP
5-6 Greenfield Crescent
Edgbaston
Birmingham
West Midlands
B15 3BE

SPENCER MANUFACTURING HOLDINGS LIMITED (REGISTERED NUMBER: 02536420)

Balance Sheet
31 December 2021

2021 2020
Notes £ £ £ £
Fixed assets
Tangible assets 4 16,042 17,292
Investments 5 930,000 930,000
946,042 947,292

Current assets
Cash at bank 85 94

Creditors
Amounts falling due within one year 6 2,214 325
Net current liabilities (2,129 ) (231 )
Total assets less current liabilities 943,913 947,061

Creditors
Amounts falling due after more than one
year

7

31,977

31,977
Net assets 911,936 915,084

Capital and reserves
Called up share capital 8 42,150 42,150
Share premium 7,339 7,339
Revaluation reserve 18,334 19,584
Capital redemption reserve 831,491 831,491
Retained earnings 12,622 14,520
Shareholders' funds 911,936 915,084

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 Comprehensive Income has not been delivered.

The financial statements were authorised for issue the director and authorised for issue on 13 September 2022 and were signed by:





D G Hawkins - Director


SPENCER MANUFACTURING HOLDINGS LIMITED (REGISTERED NUMBER: 02536420)

Notes to the Financial Statements
for the year ended 31 December 2021

1. Statutory information

Spencer Manufacturing Holdings 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 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 as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Fixed assets
All fixed assets are initially recorded at cost

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery 5% - 33% per annum on cost

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

3. Employees and directors

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

SPENCER MANUFACTURING HOLDINGS LIMITED (REGISTERED NUMBER: 02536420)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

4. Tangible fixed assets
Plant and
machinery
£
Cost or valuation
At 1 January 2021
and 31 December 2021 25,000
Depreciation
At 1 January 2021 7,708
Charge for year 1,250
At 31 December 2021 8,958
Net book value
At 31 December 2021 16,042
At 31 December 2020 17,292

Cost or valuation at 31 December 2021 is represented by:

Plant and
machinery
£
Valuation in 2003 (1,890 )
Valuation in 2008 10,000
Valuation in 2014 (25,000 )
Cost 41,890
25,000

If Plant and machinery had not been revalued they would have been included at the following historical cost:

2021 2020
£ £
Cost 41,890 41,890
Aggregate depreciation 41,890 41,890

Plant and machinery were valued on an open market basis on 31 December 2014 by Tallon and Associates .

The directors believe that the current valuation is in line with the carrying value of the plant and machinery.

SPENCER MANUFACTURING HOLDINGS LIMITED (REGISTERED NUMBER: 02536420)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 January 2021
and 31 December 2021 1,811,265
Provisions
At 1 January 2021
and 31 December 2021 881,265
Net book value
At 31 December 2021 930,000
At 31 December 2020 930,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Spencer Manufacturing Limited
Registered office: Ludlow Business Park, Sheet Road, Ludlow, Shropshire, SY8 1XF
Nature of business: Manufacture of wire
%
Class of shares: holding
Ordinary £1 100.00
2021 2020
£ £
Aggregate capital and reserves 959,838 854,307
Profit for the year 251,022 115,836

6. Creditors: amounts falling due within one year
2021 2020
£ £
Amounts owed to group undertakings 564 181
Accruals and deferred income 1,650 144
2,214 325

7. Creditors: amounts falling due after more than one year
2021 2020
£ £
Preference shares 31,977 31,977

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal value: 2021 2020
£    £   
421,500 Ordinary shares 0.10 42,150
214,965 Ordinary A shares 0.10 21,496
105,375 Ordinary B shares 0.10 10,538
101,160 Ordinary C shares 0.10 10,116
42,150 42,150

On 20 January 2021 the Ordinary shares were transferred to Ordinary A shares, B shares and C shares. All ordinary shares have full voting rights.

SPENCER MANUFACTURING HOLDINGS LIMITED (REGISTERED NUMBER: 02536420)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

9. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Andrew Hughes ACA (Senior Statutory Auditor)
for and on behalf of Haines Watts Birmingham LLP

10. Related party disclosures

Spencer Manufacturing Limited has paid bank interest of £564 (2020: £181) on behalf of Spencer Manufacturing Holdings Limited.

11. Controlling party

The company and its 100% subsidiary undertaking, Spencer Manufacturing Limited, were under the control of D G Hawkins throughout the current and previous year. D G Hawkins is the managing director and the majority shareholder of the company.