2022-05-182023-05-312023-05-31false14116160SPEAR FREIGHT 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SPEAR FREIGHT LIMITED

Registered Number
14116160
(England and Wales)

Unaudited Financial Statements for the Period ended
31 May 2023

SPEAR FREIGHT LIMITED
Company Information
for the period from 18 May 2022 to 31 May 2023

Directors

DAVEY, Gregory Francis Royston
MASSIMIANI, Jason

Registered Address

Unit 7 Warrior Park Eagle Close
Chandler's Ford
Eastleigh
SO53 4NF

Registered Number

14116160 (England and Wales)
SPEAR FREIGHT LIMITED
Balance Sheet as at
31 May 2023

Notes

2023

£

£

Current assets
Debtors11,556
Cash at bank and on hand2,445
14,001
Creditors amounts falling due within one year4(24,953)
Net current assets (liabilities)(10,952)
Total assets less current liabilities(10,952)
Net assets(10,952)
Capital and reserves
Called up share capital100
Profit and loss account(11,052)
Shareholders' funds(10,952)
The financial statements were approved and authorised for issue by the Board of Directors on 13 February 2024, and are signed on its behalf by:
DAVEY, Gregory Francis Royston
Director
MASSIMIANI, Jason
Director

Registered Company No. 14116160
SPEAR FREIGHT LIMITED
Notes to the Financial Statements
for the period ended 31 May 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2.Average number of employees

2023
Average number of employees during the year1
3.Debtors: amounts due within one year

2023

£
Trade debtors / trade receivables11,337
Amounts owed by associates and joint ventures / participating interests60
Other debtors159
Total11,556
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
4.Creditors: amounts due within one year

2023

£
Trade creditors / trade payables3,401
Amounts owed to related parties20,502
Accrued liabilities and deferred income1,050
Total24,953
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
MASSIMIANI, Jason060060
DAVEY, Gregory Francis Royston06,86212,333(5,471)
06,92212,333(5,411)