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Company Registration No. 08382082 (England and Wales)
Spitfire Electrical Services LTD Unaudited accounts for the year ended 31 March 2023
Spitfire Electrical Services LTD Unaudited accounts Contents
Page
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Spitfire Electrical Services LTD Company Information for the year ended 31 March 2023
Director
Victor Fredrick Way
Company Number
08382082 (England and Wales)
Registered Office
203 West Street Fareham PO16 0EN England
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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Spitfire Electrical Services LTD Accountants' report
Accountants' report to the director of Spitfire Electrical Services LTD on the preparation of the unaudited statutory accounts for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Spitfire Electrical Services LTD for the year ended 31 March 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Spitfire Electrical Services LTD, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Spitfire Electrical Services LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spitfire Electrical Services LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Spitfire Electrical Services LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Spitfire Electrical Services LTD. You consider that Spitfire Electrical Services LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Spitfire Electrical Services LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN 25 July 2023
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Spitfire Electrical Services LTD Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
14,200 
15,976 
Tangible assets
4,775 
5,974 
18,975 
21,950 
Current assets
Debtors
19,337 
20,820 
Cash at bank and in hand
39,499 
70,751 
58,836 
91,571 
Creditors: amounts falling due within one year
(28,015)
(20,419)
Net current assets
30,821 
71,152 
Total assets less current liabilities
49,796 
93,102 
Creditors: amounts falling due after more than one year
(18,139)
(50,000)
Net assets
31,657 
43,102 
Capital and reserves
Called up share capital
11 
11 
Share premium
30,435 
30,435 
Profit and loss account
1,211 
12,656 
Shareholders' funds
31,657 
43,102 
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 25 July 2023 and were signed on its behalf by
Victor Fredrick Way Director Company Registration No. 08382082
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Spitfire Electrical Services LTD Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Spitfire Electrical Services LTD is a private company, limited by shares, registered in England and Wales, registration number 08382082. The registered office is 203 West Street, Fareham, PO16 0EN, 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.
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.
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:
Motor vehicles
20% straight line method
Computer equipment
25% reducing balance method
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill - 5% straight line method
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
30,435 
At 31 March 2023
30,435 
Amortisation
At 1 April 2022
14,459 
Charge for the year
1,776 
At 31 March 2023
16,235 
Net book value
At 31 March 2023
14,200 
At 31 March 2022
15,976 
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Spitfire Electrical Services LTD Notes to the Accounts for the year ended 31 March 2023
5
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
33,975 
1,410 
35,385 
At 31 March 2023
33,975 
1,410 
35,385 
Depreciation
At 1 April 2022
28,095 
1,316 
29,411 
Charge for the year
1,176 
23 
1,199 
At 31 March 2023
29,271 
1,339 
30,610 
Net book value
At 31 March 2023
4,704 
71 
4,775 
At 31 March 2022
5,880 
94 
5,974 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
829 
Trade debtors
6,733 
10,347 
Other debtors
12,604 
9,644 
19,337 
20,820 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
1,057 
- 
Trade creditors
9,324 
4,544 
Taxes and social security
5,935 
4,515 
Other creditors
5,000 
5,000 
Accruals
6,699 
6,360 
28,015 
20,419 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
18,139 
50,000 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
10 B share capital of £1 each
10 
10 
11 
11 
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Spitfire Electrical Services LTD Notes to the Accounts for the year ended 31 March 2023
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Victor Fredrick Way
Director Loan Account
- 
45,349 
45,349 
- 
- 
45,349 
45,349 
- 
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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