Company Registration No. 11493324 (England and Wales)
The Spice Yard Limited
Unaudited accounts
for the year ended 31 July 2022
The Spice Yard Limited
Unaudited accounts
Contents
The Spice Yard Limited
Company Information
for the year ended 31 July 2022
Directors
Nina Saparia
Dr Rajesh Patel
Company Number
11493324 (England and Wales)
Registered Office
51 BROWNSVILLE ROAD
HEATON MOOR
STOCKPORT
CHESHIRE
SK4 4PF
ENGLAND
Accountants
Whyatt Accountancy
Stockport Business & Innovation Centre
Broadstone Mill, Broadstone Road
Stockport
Cheshire
SK5 7DL
The Spice Yard Limited
Statement of financial position
as at 31 July 2022
Cash at bank and in hand
58,465
57,733
Creditors: amounts falling due within one year
(19,467)
(12,550)
Net current assets
39,792
45,815
Total assets less current liabilities
40,299
45,815
Creditors: amounts falling due after more than one year
(36,369)
(43,000)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
3,734
2,715
Shareholders' funds
3,834
2,815
For the year ending 31 July 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 26 October 2023 and were signed on its behalf by
Nina Saparia
Director
Company Registration No. 11493324
The Spice Yard Limited
Notes to the Accounts
for the year ended 31 July 2022
The Spice Yard Limited is a private company, limited by shares, registered in England and Wales, registration number 11493324. The registered office is 51 BROWNSVILLE ROAD, HEATON MOOR, STOCKPORT, CHESHIRE, SK4 4PF, ENGLAND.
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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.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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
- over 3 to 5 years (straight line basis)
Computer equipment
- over 3 to 5 years (straight line basis)
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The Spice Yard Limited
Notes to the Accounts
for the year ended 31 July 2022
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2021
838
593
1,431
At 31 July 2022
1,237
892
2,129
At 1 August 2021
838
593
1,431
Charge for the year
100
91
191
At 31 July 2022
938
684
1,622
At 31 July 2022
299
208
507
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Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
6,991
-
Taxes and social security
873
693
Loans from directors
10,613
11,647
6
Creditors: amounts falling due after more than one year
2022
2021
No security has been granted for the bank loan at 31 July 2022 (31 July 2021: none).
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Average number of employees
During the year the average number of employees was 1 (2021: 1).