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
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
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
Spitfire Electrical Services LTD
Statement of financial position
as at 31 March 2023
Intangible assets
14,200
15,976
Tangible assets
4,775
5,974
Cash at bank and in hand
39,499
70,751
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)
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
Spitfire Electrical Services LTD
Notes to the Accounts
for the year ended 31 March 2023
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.
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.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill - 5% straight line method
4
Intangible fixed assets
Goodwill
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
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
At 31 March 2023
4,704
71
4,775
At 31 March 2022
5,880
94
5,974
Amounts falling due within one year
Trade debtors
6,733
10,347
Other debtors
12,604
9,644
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
9,324
4,544
Taxes and social security
5,935
4,515
Other creditors
5,000
5,000
8
Creditors: amounts falling due after more than one year
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
Spitfire Electrical Services LTD
Notes to the Accounts
for the year ended 31 March 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director Loan Account
-
45,349
45,349
-
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).