REGISTERED NUMBER: |
SPECIALITY SOFTWARE LIMITED |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 10 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 11 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
BASIS OF PREPARATION |
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 |
Motor vehicles | - |
Computer equipment | - |
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 |
5. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2022 |
and 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
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 |
Additions |
Disposals | ( |
) |
Revaluations | ( |
) |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
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 |
Revaluations | (74,995 | ) |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
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 |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
10. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 46,407 | 65,663 |
Deferred |
tax |
£ |
Balance at 1 June 2022 |
Deferred tax on revaluations | (19,256 | ) |
Balance at 31 May 2023 |
11. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 June 2022 | 2,194,797 |
Deficit for the year | ( |
) | ( |
) |
Dividends | ( |
) | ( |
) |
Transfers | 86,849 | (86,849 | ) | - |
At 31 May 2023 | 1,983,358 |
The fair value reserve is not distributable. |