REGISTERED NUMBER: 12106020 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2022

for

S.P.H Financials Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Harris

REGISTERED OFFICE:

21 Picton Avenue

Billingham

United Kingdom

Cleveland

TS22 5BP

REGISTERED NUMBER:

12106020 (England and Wales)

ACCOUNTANTS:

APC Accountancy

Chartered Accountants

Queens Court Business Centre

Newport Road

Middlesbrough

TS1 5EH

FIXED ASSETS

Intangible assets

4

3,500

4,000

Tangible assets

5

429

589

3,929

4,589

CURRENT ASSETS

Debtors

6

25,452

11,073

Cash at bank

4,870

30,015

30,322

41,088

CREDITORS

Amounts falling due within one year

7

11,099

11,248

NET CURRENT ASSETS

19,223

29,840

TOTAL ASSETS LESS CURRENT LIABILITIES

23,152

34,429

CREDITORS

Amounts falling due after more than one year

8

(23,842

)

(27,812

)

PROVISIONS FOR LIABILITIES

-

(112

)

NET (LIABILITIES)/ASSETS

(690

)

6,505

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(790

)

6,405

(690

)

6,505

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 October 2023 and were signed by:

S Harris - Director

1.	STATUTORY INFORMATION

S.P.H Financials 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

20% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual

provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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 2 (2021 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2021

and 31 July 2022

5,000

AMORTISATION

At 1 August 2021

1,000

Charge for year

500

At 31 July 2022

1,500

NET BOOK VALUE

At 31 July 2022

3,500

At 31 July 2021

4,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2021

and 31 July 2022

799

DEPRECIATION

At 1 August 2021

210

Charge for year

160

At 31 July 2022

370

NET BOOK VALUE

At 31 July 2022

429

At 31 July 2021

589

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade debtors

-

7,696

Other debtors

25,452

3,377

25,452

11,073

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Bank loans and overdrafts

6,773

6,676

Taxation and social security

3,544

3,052

Other creditors

782

1,520

11,099

11,248

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.22

31.7.21

£

£

Bank loans

23,842

27,812

9.	RELATED PARTY DISCLOSURES

At 31 July 2022 the director owed the company £9,500. (2021 the company owed the director £742)

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Harris.