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Registered Number: 08237924
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 October 2022

for

SPARTEK ECS LIMITED

 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 3 61,238    27,895 
61,238    27,895 
Current assets      
Stocks 4 112,027    200,300 
Debtors 5 708,621    445,516 
Cash at bank and in hand 280,015    53,911 
1,100,663    699,727 
Creditors: amount falling due within one year 6 (783,030)   (616,429)
Net current assets 317,633    83,298 
 
Total assets less current liabilities 378,871    111,193 
Creditors: amount falling due after more than one year 7 (27,500)   (38,834)
Accruals and deferred income (31,160)  
Provisions for liabilities 8 (15,310)   (5,301)
Net assets 304,901    67,058 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 304,900    67,057 
Shareholder's funds 304,901    67,058 
 


For the year ended 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 02 October 2023 and were signed by:


-------------------------------
Lee Charles Watson
Director
1
General Information
Spartek Ecs Limited is a private company, limited by shares, registered in England and Wales, registration number 08237924, registration address Neaton Business Park, Norwich Road, Watton, Norfolk, IP25 6JB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the profit and loss account.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Preference shares
The company's preference shares are treated as a financial liability since they are subject to mandatory redemption for a fixed or determinable amount at a fixed or determinable time and are thus included in creditors in the balance sheet rather than as part of the company's issued share capital.
2.

Average number of employees

Average number of employees during the year was 14 (2021 : 14).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 November 2021 35,743    12,180    7,668    55,591 
Additions 25,180    680    34,861    60,721 
Disposals (11,745)   (10,500)     (22,245)
At 31 October 2022 49,178    2,360    42,529    94,067 
Depreciation
At 01 November 2021 14,006    9,451    4,239    27,696 
Charge for year 7,880    333    9,572    17,785 
On disposals (4,228)   (8,424)     (12,652)
At 31 October 2022 17,658    1,360    13,811    32,829 
Net book values
Closing balance as at 31 October 2022 31,520    1,000    28,718    61,238 
Opening balance as at 01 November 2021 21,736    2,730    3,429    27,895 


4.

Stocks

2022
£
  2021
£
Stocks 112,027    200,300 
112,027    200,300 

5.

Debtors: amounts falling due within one year

2022
£
  2021
£
Trade Debtors 569,576    377,017 
Prepayments & Accrued Income 51,732    38,517 
Other Debtors 23,980    29,982 
645,288    445,516 

5.

Debtors: amounts falling due after one year

2022
£
  2021
£
Accrued Income 63,333   
63,333   

6.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade Creditors 590,847    340,244 
Bank Loans & Overdrafts 10,000    10,000 
Corporation Tax 64,256    62,390 
PAYE & Social Security 22,245    49,979 
CIS Control Account 2,743   
Other Creditors 74,151    53,800 
Obligations under HP/Financial Leases 1,334    3,939 
Other Loan   92 
Accruals & Deferred Income 9,418    95,985 
Directors' Current Accounts 8,036   
783,030    616,429 

7.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Bank Loans & Overdrafts 27,500    37,500 
Obligations Under HP/Financial Leases   1,334 
27,500    38,834 

8.

Provisions for liabilities

2022
£
  2021
£
Deferred Tax 5,300    4,815 
Charged to Profit & Loss 10,010    486 
15,310    5,301 

2