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REGISTERED NUMBER: 03902162 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

SPC INTERNATIONAL (FOOD) LIMITED

SPC INTERNATIONAL (FOOD) LIMITED (REGISTERED NUMBER: 03902162)

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










Page

Company Information 1

Report of the Directors 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


SPC INTERNATIONAL (FOOD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr G M Mason
Mrs J Mason
Mr A Mason



REGISTERED OFFICE: Tenacres
Barton Street
GRIMSBY
DN37 0RU



REGISTERED NUMBER: 03902162 (England and Wales)



ACCOUNTANTS: Smethurst & Co LLP
12 Abbey Road
GRIMSBY
DN32 0HL



BANKERS: HSBC Bank plc
55 Victoria Street
GRIMSBY
DN31 1UX

SPC INTERNATIONAL (FOOD) LIMITED (REGISTERED NUMBER: 03902162)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2023


The directors present their report with the financial statements of the company for the year ended 31 March 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

Mr G M Mason
Mrs J Mason
Mr A Mason

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr G M Mason - Director


8 November 2023

SPC INTERNATIONAL (FOOD) LIMITED (REGISTERED NUMBER: 03902162)

ABRIDGED BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,409 39,250

CURRENT ASSETS
Stocks 84,323 86,243
Debtors 45,397 93,717
Cash at bank 254,428 351,315
384,148 531,275
CREDITORS
Amounts falling due within one year 75,822 126,619
NET CURRENT ASSETS 308,326 404,656
TOTAL ASSETS LESS CURRENT
LIABILITIES

372,735

443,906

CREDITORS
Amounts falling due after more than one
year

(24,946

)

(38,041

)

PROVISIONS FOR LIABILITIES (6,923 ) (7,135 )
NET ASSETS 340,866 398,730

CAPITAL AND RESERVES
Allotted, called up and
fully paid share capital 300 300
Profit and loss account 340,566 398,430
SHAREHOLDERS' FUNDS 340,866 398,730

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.

SPC INTERNATIONAL (FOOD) LIMITED (REGISTERED NUMBER: 03902162)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 November 2023 and were signed on its behalf by:





Mr G M Mason - Director


SPC INTERNATIONAL (FOOD) LIMITED (REGISTERED NUMBER: 03902162)

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


1. STATUTORY INFORMATION

SPC International (Food) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 2% Straight Line
Plant and machinery - 25% Reducing Balance
Fixtures and fittings - 25% Reducing Balance
Motor vehicles - 20% Reducing Balance and 15% Reducing Balance
Computer equipment - 25% Straight Line

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

SPC INTERNATIONAL (FOOD) LIMITED (REGISTERED NUMBER: 03902162)

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 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 93,866
Additions 34,699
At 31 March 2023 128,565
DEPRECIATION
At 1 April 2022 54,616
Charge for year 9,540
At 31 March 2023 64,156
NET BOOK VALUE
At 31 March 2023 64,409
At 31 March 2022 39,250

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022
and 31 March 2023 9,000
DEPRECIATION
At 1 April 2022 6,864
Charge for year 533
At 31 March 2023 7,397
NET BOOK VALUE
At 31 March 2023 1,603
At 31 March 2022 2,136

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mr G M Mason
Balance outstanding at start of year - 4,946
Amounts repaid - (4,946 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

SPC INTERNATIONAL (FOOD) LIMITED (REGISTERED NUMBER: 03902162)

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


5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs J Mason
Balance outstanding at start of year - 4,947
Amounts repaid - (4,947 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -