SP Futures Limited
Unaudited Financial Statements
For the year ended 31 March 2023
Pages for Filing with Registrar
Company Registration No. 08968722 (England and Wales)
SP Futures Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SP Futures Limited
Balance Sheet
As at 31 March 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,117
2,235
Current assets
Debtors
4
18,376
261
Cash at bank and in hand
4,607
4,092
22,983
4,353
Creditors: amounts falling due within one year
5
(21,108)
(11,620)
Net current assets/(liabilities)
1,875
(7,267)
Total assets less current liabilities
2,992
(5,032)
Creditors: amounts falling due after more than one year
6
(22,454)
(26,122)
Net liabilities
(19,462)
(31,154)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(19,562)
(31,254)
Total equity
(19,462)
(31,154)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SP Futures Limited
Balance Sheet (Continued)
As at 31 March 2023
Page 2
The financial statements were approved and signed by the director and authorised for issue on 18 October 2023
S. Portlock
Director
Company Registration No. 08968722
SP Futures Limited
Notes to the Financial Statements
For the year ended 31 March 2023
Page 3
1
Accounting policies
Company information

SP Futures Limited is a private company limited by shares incorporated and domiciled in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company made a profit in the year oftrue £11,692 (2022: £27,477) and at the balance sheet date had net liabilities of £19,462 (2022: £31,154).

 

These financial statements are prepared on a going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Computer equipment
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

SP Futures Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
1
Accounting policies
(Continued)
Page 4
1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
2
SP Futures Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
3,779
Depreciation and impairment
At 1 April 2022
1,544
Depreciation charged in the year
1,118
At 31 March 2023
2,662
Carrying amount
At 31 March 2023
1,117
At 31 March 2022
2,235
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
626
261
Prepayments and accrued income
17,750
-
0
18,376
261
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
6,352
6,262
Trade creditors
4,984
2,598
Other creditors
6,897
-
Accruals and deferred income
2,875
2,760
21,108
11,620
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
22,454
26,122
SP Futures Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 6
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
100
100
8
Controlling Party

The ultimate controlling party is S. Portlock by virtue of his majority shareholding.

9
Directors' transactions

Included within other creditors at the year end is an amount of £6,897 owed to (2022: £61 owed by) S Portlock, the company director.

 

2023-03-312022-04-01false18 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityS. Portlock08968722089687222022-04-012023-03-31089687222023-03-31089687222022-03-3108968722core:OtherPropertyPlantEquipment2023-03-3108968722core:OtherPropertyPlantEquipment2022-03-3108968722core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3108968722core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3108968722core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3108968722core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3108968722core:ShareCapital2023-03-3108968722core:ShareCapital2022-03-3108968722core:RetainedEarningsAccumulatedLosses2023-03-3108968722core:RetainedEarningsAccumulatedLosses2022-03-3108968722bus:Director12022-04-012023-03-3108968722core:ComputerEquipment2022-04-012023-03-31089687222021-04-012022-03-3108968722core:OtherPropertyPlantEquipment2022-03-3108968722core:OtherPropertyPlantEquipment2022-04-012023-03-3108968722core:CurrentFinancialInstruments2023-03-3108968722core:CurrentFinancialInstruments2022-03-3108968722core:Non-currentFinancialInstruments2023-03-3108968722core:Non-currentFinancialInstruments2022-03-3108968722bus:PrivateLimitedCompanyLtd2022-04-012023-03-3108968722bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3108968722bus:FRS1022022-04-012023-03-3108968722bus:AuditExemptWithAccountantsReport2022-04-012023-03-3108968722bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP