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REGISTERED NUMBER: 03201208 (England and Wales)















SPECIALITY SOFTWARE LIMITED

Unaudited Financial Statements for the Year Ended 31 May 2023






SPECIALITY SOFTWARE LIMITED (REGISTERED NUMBER: 03201208)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPECIALITY SOFTWARE LIMITED

Company Information
for the year ended 31 May 2023







DIRECTORS: B J Steiner
Mrs S R Steiner





SECRETARY: Mrs S R Steiner





REGISTERED OFFICE: 7 Park Heights
South Street
Epsom
KT18 7PQ





REGISTERED NUMBER: 03201208 (England and Wales)





ACCOUNTANTS: Tudor John Limited
Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ

SPECIALITY SOFTWARE LIMITED (REGISTERED NUMBER: 03201208)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 13,219 17,626
Investments 6 1,458,544 1,477,181
Investment property 7 525,000 599,995
1,996,763 2,094,802

CURRENT ASSETS
Debtors 8 6,522 9,401
Cash at bank and in hand 38,908 170,255
45,430 179,656
CREDITORS
Amounts falling due within one year 9 12,426 13,996
NET CURRENT ASSETS 33,004 165,660
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,029,767

2,260,462

PROVISIONS FOR LIABILITIES 10 46,407 65,663
NET ASSETS 1,983,360 2,194,799

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 11 210,542 297,391
Retained earnings 11 1,772,816 1,897,406
SHAREHOLDERS' FUNDS 1,983,360 2,194,799

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

SPECIALITY SOFTWARE LIMITED (REGISTERED NUMBER: 03201208)

Balance Sheet - continued
31 May 2023


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 Income Statement 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:





B J Steiner - Director


SPECIALITY SOFTWARE LIMITED (REGISTERED NUMBER: 03201208)

Notes to the Financial Statements
for the year ended 31 May 2023

1. STATUTORY INFORMATION

Speciality Software 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARATION
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared on a going concern basis.

TURNOVER
Turnover represents net invoiced sales of goods and services, excluding value added tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

INVESTMENTS
Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value are recognised in the Income Statement, then transferred to a fair value reserve which is non-distributable..

Listed investments are shown at their market value. Any surplus or deficit arising from changes in market value is recognised in the Income Statement.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

SPECIALITY SOFTWARE LIMITED (REGISTERED NUMBER: 03201208)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

3. 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.

FINANCIAL INSTRUMENTS
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 66,730 3,423 70,153
DEPRECIATION
At 1 June 2022 49,104 3,423 52,527
Charge for year 4,407 - 4,407
At 31 May 2023 53,511 3,423 56,934
NET BOOK VALUE
At 31 May 2023 13,219 - 13,219
At 31 May 2022 17,626 - 17,626

6. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Other investments not loans 1,458,544 1,477,181

Additional information is as follows:
Other
investments
£   
COST OR VALUATION
At 1 June 2022 1,468,231
Additions 276,362
Disposals (263,889 )
Revaluations (31,110 )
At 31 May 2023 1,449,594
NET BOOK VALUE
At 31 May 2023 1,449,594
At 31 May 2022 1,468,231

SPECIALITY SOFTWARE LIMITED (REGISTERED NUMBER: 03201208)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 May 2023 is represented by:

Other
investments
£   
Valuation in 2017 140,838
Valuation in 2018 35,238
Valuation in 2019 (12,635 )
Valuation in 2020 (22,981 )
Valuation in 2021 93,361
Valuation in 2022 (33,105 )
Valuation in 2023 (31,110 )
Cost 1,279,988
1,449,594

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Artworks 8,950 8,950

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 599,995
Revaluations (74,995 )
At 31 May 2023 525,000
NET BOOK VALUE
At 31 May 2023 525,000
At 31 May 2022 599,995

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2015 103,000
Valuation in 2016 70,000
Valuation in 2017 (15,000 )
Valuation in 2018 5,000
Valuation in 2019 9,000
Valuation in 2021 (14,000 )
Valuation in 2023 (74,995 )
Cost 441,995
525,000

SPECIALITY SOFTWARE LIMITED (REGISTERED NUMBER: 03201208)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,522 -
Other debtors - 9,401
6,522 9,401

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 4,142 6,134
Other creditors 8,284 7,862
12,426 13,996

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 46,407 65,663

Deferred
tax
£   
Balance at 1 June 2022 65,663
Deferred tax on revaluations (19,256 )
Balance at 31 May 2023 46,407

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2022 1,897,406 297,391 2,194,797
Deficit for the year (61,439 ) (61,439 )
Dividends (150,000 ) (150,000 )
Transfers 86,849 (86,849 ) -
At 31 May 2023 1,772,816 210,542 1,983,358

The fair value reserve is not distributable.