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Company Registration No. 02943834 (England and Wales)
D.E. Spencer & Sons (UK) Limited Unaudited accounts for the year ended 31 December 2022
D.E. Spencer & Sons (UK) Limited Unaudited accounts Contents
Page
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D.E. Spencer & Sons (UK) Limited Company Information for the year ended 31 December 2022
Directors
Clive Spencer David Spencer
Secretary
Clive Spencer
Company Number
02943834 (England and Wales)
Registered Office
D E SPENCER & SONS THE OFFICE NUPEND STONEHOUSE GLOUCESTERSHIRE GL10 3SS
Accountants
Parallel Accounting Ltd 8 Charis Avenue Bristol BS10 5JD
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D.E. Spencer & Sons (UK) Limited Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
35,991 
24,460 
Investments
39,478 
44,375 
75,469 
68,835 
Current assets
Debtors
195,534 
212,148 
Cash at bank and in hand
54,060 
64,616 
249,594 
276,764 
Creditors: amounts falling due within one year
(168,565)
(119,087)
Net current assets
81,029 
157,677 
Total assets less current liabilities
156,498 
226,512 
Provisions for liabilities
Deferred tax
(6,839)
(7,421)
Net assets
149,659 
219,091 
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
9,696 
14,593 
Profit and loss account
139,961 
204,496 
Shareholders' funds
149,659 
219,091 
For the year ending 31 December 2022 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 directors acknowledge their 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 of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by
David Spencer Director Company Registration No. 02943834
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D.E. Spencer & Sons (UK) Limited Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
D.E. Spencer & Sons (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 02943834. The registered office is D E SPENCER & SONS THE OFFICE, NUPEND, STONEHOUSE, GLOUCESTERSHIRE, GL10 3SS.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company?s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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D.E. Spencer & Sons (UK) Limited Notes to the Accounts for the year ended 31 December 2022
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
7 years straight line
Motor vehicles
4 years straight line
Fixtures & fittings
7 years straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
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.
Investments
Investments in shares are included at fair value.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
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 January 2022
163,580 
1,904 
11,531 
- 
177,015 
Additions
3,950 
15,000 
- 
650 
19,600 
Disposals
(700)
- 
- 
- 
(700)
At 31 December 2022
166,830 
16,904 
11,531 
650 
195,915 
Depreciation
At 1 January 2022
140,532 
1,481 
10,542 
- 
152,555 
Charge for the year
3,915 
3,856 
159 
130 
8,060 
On disposals
(691)
- 
- 
- 
(691)
At 31 December 2022
143,756 
5,337 
10,701 
130 
159,924 
Net book value
At 31 December 2022
23,074 
11,567 
830 
520 
35,991 
At 31 December 2021
23,048 
423 
989 
- 
24,460 
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D.E. Spencer & Sons (UK) Limited Notes to the Accounts for the year ended 31 December 2022
5
Investments
Other investments 
£ 
Valuation at 1 January 2022
44,375 
Fair value adjustments
(4,897)
Valuation at 31 December 2022
39,478 
6
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
VAT
767 
3,441 
Trade debtors
25,123 
24,463 
Accrued income and prepayments
1,733 
4,872 
Other debtors
167,911 
179,372 
195,534 
212,148 
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade creditors
4,867 
1,408 
Taxes and social security
57,832 
13,179 
Other creditors
1,151 
- 
Loans from directors
215 
- 
Accruals
104,500 
104,500 
168,565 
119,087 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Clive Spencer
Directors Loan Account
7,718 
6,060 
13,993 
(215)
David Spencer
Directors Loan Account
120,404 
19,130 
13,993 
125,541 
128,122 
25,190 
27,986 
125,326 
9
Average number of employees
During the year the average number of employees was 2 (2021: 2).
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