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Registration number: 06469318

S & P Developments (South West) Limited

Annual Report and Unaudited Filleted Financial Statements

for the Period from 1 March 2023 to 30 September 2023

 

S & P Developments (South West) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

S & P Developments (South West) Limited

Company Information

Director

S Kerslake

Company secretary

S Kerslake

Registered office

10 Cannards Grave
Shepton mallet
Somerset
BA4 4LY

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

S & P Developments (South West) Limited

(Registration number: 06469318)
Balance Sheet
30 September 2023

Note

2023
£

2023
£

Fixed assets

 

Tangible assets

4

-

15,618

Current assets

 

Debtors

5

3,994

15,612

Cash at bank and in hand

 

18,550

14,717

 

22,544

30,329

Creditors: Amounts falling due within one year

6

(1,214)

(2,845)

Net current assets

 

21,330

27,484

Net assets

 

21,330

43,102

Capital and reserves

 

Called up share capital

100

100

Retained earnings

21,230

43,002

Shareholders' funds

 

21,330

43,102

 

S & P Developments (South West) Limited

(Registration number: 06469318)
Balance Sheet
30 September 2023

For the financial period ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 14 November 2023
 

.........................................
S Kerslake
Director

 

S & P Developments (South West) Limited

Notes to the Unaudited Financial Statements
Period from 1 March 2023 to 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Cannards Grave
Shepton mallet
Somerset
BA4 4LY

These financial statements were authorised for issue by the director on 14 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The accounts have not been prepared on a going concern basis as the company has ceased to trade.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

 

S & P Developments (South West) Limited

Notes to the Unaudited Financial Statements
Period from 1 March 2023 to 30 September 2023

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% on the reducing balance

Motor vehicles

25% on the reducing balance

Office equipment

25% on the reducing balance

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and are included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

S & P Developments (South West) Limited

Notes to the Unaudited Financial Statements
Period from 1 March 2023 to 30 September 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0 (2023 - 1).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

1,428

67,663

19,784

88,875

Disposals

(1,428)

(67,663)

(19,784)

(88,875)

At 30 September 2023

-

-

-

-

Depreciation

At 1 March 2023

731

57,618

14,908

73,257

Eliminated on disposal

(731)

(57,618)

(14,908)

(73,257)

At 30 September 2023

-

-

-

-

Carrying amount

At 30 September 2023

-

-

-

-

At 28 February 2023

697

10,045

4,876

15,618

 

S & P Developments (South West) Limited

Notes to the Unaudited Financial Statements
Period from 1 March 2023 to 30 September 2023

5

Debtors

2023
£

2023
£

Other debtors

3,994

15,351

Prepayments

-

261

3,994

15,612

6

Creditors

Creditors: amounts falling due within one year

2023
£

2023
£

Due within one year

Trade creditors

-

770

Taxation and social security

1,183

1,075

Other creditors

31

1,000

1,214

2,845