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Registered Number: 06549228
England and Wales

 

 

 

SPITFIRE ENGINEERING DESIGNS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
Directors Mr Gary Suffling
Patricia Suffling
Registered Number 06549228
Registered Office 19 Westminster Crescent
Burn Bridge
Harrogate
North Yorkshire
HG3 1LX
Accountants Best Accountancy Services Ltd
Harrogate Business Centre, Hammerain House
Hookstone Avenue
Harrogate
North Yorkshire
HG2 8ER
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,191    1,953 
1,191    1,953 
Current assets      
Stocks 4 18,500    20,000 
Debtors 5 7,010    7,380 
Cash at bank and in hand 7,396    660 
32,906    28,040 
Creditors: amount falling due within one year 6 (17,096)   (15,482)
Net current assets 15,810    12,558 
 
Total assets less current liabilities 17,001    14,511 
Creditors: amount falling due after more than one year 7 (10,160)   (11,777)
Net assets 6,841    2,734 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 6,741    2,634 
Shareholder's funds 6,841    2,734 
 


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 12 October 2023 and were signed on its behalf by:


-------------------------------
Mr Gary Suffling
Director
2
General Information
Spitfire Engineering Designs Limited is a private company, limited by shares, registered in England and Wales, registration number 06549228, registration address 19 Westminster Crescent, Burn Bridge, Harrogate, North Yorkshire, HG3 1LX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 June 2022 6,429    6,429 
Additions  
Disposals  
At 31 May 2023 6,429    6,429 
Depreciation
At 01 June 2022 4,476    4,476 
Charge for year 762    762 
On disposals  
At 31 May 2023 5,238    5,238 
Net book values
Closing balance as at 31 May 2023 1,191    1,191 
Opening balance as at 01 June 2022 1,953    1,953 


4.

Stocks

2023
£
  2022
£
Stocks 18,500    20,000 
18,500    20,000 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 2,724    7,380 
Other Debtors 4,286   
7,010    7,380 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 771    1,088 
Bank Loans & Overdrafts 1,611    1,611 
Taxation and Social Security 1,259    628 
Other Creditors 13,455    12,155 
17,096    15,482 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 10,160    11,777 
10,160    11,777 

8.

Advances and Credits



G & T Suffling
During the year ended 31st May 2023, the Company repaid £21,486 of the loan to the Directors, and the Directors advanced a further £20,235 to the Company. The loans are interest free and repayable on demand.

Current year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
G & T Suffling11,454 21,486 20,235 12,705 
1145421486202350012705
Previous year (2022)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
G & T Suffling38,117 16,601 43,264 11,454 
3811716601432640011454
3