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REGISTERED NUMBER: 01116050 (England and Wales)












GEORGE SPEIGHT & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






GEORGE SPEIGHT & SONS LIMITED (REGISTERED NUMBER: 01116050)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEORGE SPEIGHT & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







Directors: Mr B P Hevey
Mrs C A Hevey
Mrs B Osmotherley



Secretary: Mr B P Hevey



Registered office: Queen Street
LANCASTER
LA1 1RX



Registered number: 01116050 (England and Wales)



Accountants: Scott & Wilkinson
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Bankers: Barclays Bank Plc
38 Market Street
LANCASTER
LA1 1HR

GEORGE SPEIGHT & SONS LIMITED (REGISTERED NUMBER: 01116050)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 130,831 116,007
Investment property 5 680,000 680,000
810,831 796,007

Current assets
Stocks 25,803 33,270
Debtors 6 155,923 171,695
Cash at bank and in hand 122,439 151,627
304,165 356,592
Creditors
Amounts falling due within one year 7 220,615 270,104
Net current assets 83,550 86,488
Total assets less current liabilities 894,381 882,495

Creditors
Amounts falling due after more than one
year

8

(20,932

)

-

Provisions for liabilities (10,517 ) (11,706 )
Net assets 862,932 870,789

Capital and reserves
Called up share capital 9,000 9,000
Retained earnings 853,932 861,789
862,932 870,789

GEORGE SPEIGHT & SONS LIMITED (REGISTERED NUMBER: 01116050)

BALANCE SHEET - continued
31 MARCH 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:





Mr B P Hevey - Director


GEORGE SPEIGHT & SONS LIMITED (REGISTERED NUMBER: 01116050)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. Statutory information

George Speight & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% Straight line
Plant and machinery etc - 25% on reducing balance, 20% Reducing balance and 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

GEORGE SPEIGHT & SONS LIMITED (REGISTERED NUMBER: 01116050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 18 (2022 - 18 ) .

4. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 April 2022 86,137 293,432 379,569
Additions - 40,696 40,696
Disposals - (1,350 ) (1,350 )
At 31 March 2023 86,137 332,778 418,915
Depreciation
At 1 April 2022 31,741 231,821 263,562
Charge for year 1,723 23,883 25,606
Eliminated on disposal - (1,084 ) (1,084 )
At 31 March 2023 33,464 254,620 288,084
Net book value
At 31 March 2023 52,673 78,158 130,831
At 31 March 2022 54,396 61,611 116,007

5. Investment property
Total
£   
Fair value
At 1 April 2022
and 31 March 2023 680,000
Net book value
At 31 March 2023 680,000
At 31 March 2022 680,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 680,000

Investment property was valued on an open market basis on 31 March 2023 by the directors .

An independent valuation has not been obtained as this is not required.

GEORGE SPEIGHT & SONS LIMITED (REGISTERED NUMBER: 01116050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 115,429 133,364
Other debtors 40,494 38,331
155,923 171,695

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Hire purchase contracts 5,146 -
Trade creditors 176,182 171,989
Taxation and social security 9,026 22,645
Other creditors 30,261 75,470
220,615 270,104

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts 20,932 -