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REGISTERED NUMBER: 09154487 (England and Wales)


















SPANNERS & HEELS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






SPANNERS & HEELS LTD (REGISTERED NUMBER: 09154487)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPANNERS & HEELS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Janice Margaret Hughes
Stephen Murray





REGISTERED OFFICE: 62 Burners Lane
Kiln Farm
Milton Keynes
MK11 3HD





REGISTERED NUMBER: 09154487 (England and Wales)





ACCOUNTANTS: Thompson Balch Limited
Chartered Accountants
Sovereign House
15 Towcester Road
Old Stratford
Milton Keynes
MK19 6AN

SPANNERS & HEELS LTD (REGISTERED NUMBER: 09154487)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,304 8,492

CURRENT ASSETS
Debtors 5 14,611 13,565
Cash at bank 46,671 37,831
61,282 51,396
CREDITORS
Amounts falling due within one year 6 41,656 35,630
NET CURRENT ASSETS 19,626 15,766
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,930

24,258

CREDITORS
Amounts falling due after more than one
year

7

(15,333

)

(23,333

)

PROVISIONS FOR LIABILITIES (1,829 ) -
NET ASSETS 10,768 925

CAPITAL AND RESERVES
Called up, fully paid share
capital 2 2
Retained earnings 10,766 923
SHAREHOLDERS' FUNDS 10,768 925

SPANNERS & HEELS LTD (REGISTERED NUMBER: 09154487)

BALANCE SHEET - continued
31 AUGUST 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 16 November 2023 and were signed on its behalf by:





Stephen Murray - Director


SPANNERS & HEELS LTD (REGISTERED NUMBER: 09154487)

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


1. STATUTORY INFORMATION

Spanners & Heels Ltd 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

SPANNERS & HEELS LTD (REGISTERED NUMBER: 09154487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2022 10,607 5,000 15,607
Additions 2,580 - 2,580
At 31 August 2023 13,187 5,000 18,187
DEPRECIATION
At 1 September 2022 3,863 3,252 7,115
Charge for year 2,331 437 2,768
At 31 August 2023 6,194 3,689 9,883
NET BOOK VALUE
At 31 August 2023 6,993 1,311 8,304
At 31 August 2022 6,744 1,748 8,492

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,182 1,773
Other debtors 11,429 11,792
14,611 13,565

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 13,288 18,969
Taxation and social security 8,651 4,866
Other creditors 11,717 3,795
41,656 35,630

SPANNERS & HEELS LTD (REGISTERED NUMBER: 09154487)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,333 23,333