Company Registration No. 03686414 (England and Wales)
N.C. Spencer Holdings Limited
Unaudited accounts
for the year ended 31 March 2023
N.C. Spencer Holdings Limited
Unaudited accounts
Contents
N.C. Spencer Holdings Limited
Company Information
for the year ended 31 March 2023
Director
SPENCER, Nicholas Clark
Company Number
03686414 (England and Wales)
Registered Office
AVON VIEW OFFICES 90 HIGH STREET
BIDFORD-ON-AVON
ALCESTER
B50 4AF
ENGLAND
Accountants
Chadwick Accountants & Bookkeepers Ltd
Avon View Offices
90 High Street
Bidford-on-Avon
Warwickshire
B50 4AF
N.C. Spencer Holdings Limited
Statement of financial position
as at 31 March 2023
Tangible assets
112,311
137,283
Investment property
750,000
750,000
Cash at bank and in hand
21,200
33,326
Creditors: amounts falling due within one year
(5,535)
(37,507)
Net current assets
45,391
27,759
Total assets less current liabilities
907,702
915,042
Creditors: amounts falling due after more than one year
(726,333)
(726,334)
Provisions for liabilities
Deferred tax
(7,682)
(9,328)
Net assets
173,687
179,380
Called up share capital
1,000
1,000
Revaluation reserve
224,696
224,696
Profit and loss account
(52,009)
(46,316)
Shareholders' funds
173,687
179,380
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 September 2023 and were signed on its behalf by
SPENCER, Nicholas Clark
Director
Company Registration No. 03686414
N.C. Spencer Holdings Limited
Notes to the Accounts
for the year ended 31 March 2023
N.C. Spencer Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 03686414. The registered office is AVON VIEW OFFICES 90 HIGH STREET, BIDFORD-ON-AVON, ALCESTER, B50 4AF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% - 25% Reducing Balance
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
N.C. Spencer Holdings Limited
Notes to the Accounts
for the year ended 31 March 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2022
90,891
39,096
69,345
-
199,332
Additions
-
-
-
1,999
1,999
At 31 March 2023
90,891
39,096
69,345
1,999
201,331
At 1 April 2022
28,394
12,953
20,702
-
62,049
Charge for the year
12,127
7,149
7,421
274
26,971
At 31 March 2023
40,521
20,102
28,123
274
89,020
At 31 March 2023
50,370
18,994
41,222
1,725
112,311
At 31 March 2022
62,497
26,143
48,643
-
137,283
Fair value at 1 April 2022
750,000
N.C. Spencer Holdings Limited
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Accrued income and prepayments
75
230
Other debtors
27,825
26,625
8
Creditors: amounts falling due within one year
2023
2022
Trade creditors
151
28,424
9
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
11,426
11,427
Loans from directors
714,907
714,907
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).