Company registration number 13936735 (England and Wales)
SPECTRA DEFENCE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
SPECTRA DEFENCE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SPECTRA DEFENCE LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
2,116
Current assets
Debtors
4
55
Cash at bank and in hand
8,185
8,240
Creditors: amounts falling due within one year
5
(7,261)
Net current assets
979
Net assets
3,095
Capital and reserves
Called up share capital
100
Profit and loss reserves
2,995
Total equity
3,095
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 22 November 2023
Dr J A Rogers
Director
Company registration number 13936735 (England and Wales)
SPECTRA DEFENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information
Spectra Defence Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 Glen Iris Close, Canterbury, Kent, CT2 8HR.
1.1
Reporting period
These financial statements are the first prepared by the company, and cover the period 23 February 2022 to 28 February 2023.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance
Computers
3 year's straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
SPECTRA DEFENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 23 February 2022
Additions
2,200
At 28 February 2023
2,200
Depreciation and impairment
At 23 February 2022
Depreciation charged in the period
84
At 28 February 2023
84
Carrying amount
At 28 February 2023
2,116
SPECTRA DEFENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2023
- 4 -
4
Debtors
2023
Amounts falling due within one year:
£
Other debtors
55
5
Creditors: amounts falling due within one year
2023
£
Corporation tax
2,162
Other taxation and social security
2,846
Other creditors
2,253
7,261