Number
06276827
SPATIAL CONSULTANTS LTD
Filleted Accounts
30 June 2023
SPATIAL CONSULTANTS LTD
Registered number: 06276827
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,726 1,494
1,726 1,494
Current assets
Debtors 4 4,071 21,439
Cash at bank and in hand 86,572 95,575
90,643 117,014
Creditors: amounts falling due within one year 5 (67,907) (101,835)
Net current assets 22,736 15,179
Total assets less current liabilities 24,462 16,673
Provisions for liabilities (328) (248)
Net assets 24,134 16,425
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account 22,134 14,425
Shareholders' funds 24,134 16,425
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Patrick Graham Morgan
Director
Approved by the board on 6 March 2024
SPATIAL CONSULTANTS LTD
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
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).
Turnover
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment and website over 4 years
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office Equipment Website Total
£ £ £
Cost
At 1 July 2022 10,800 3,475 14,275
Additions 1,516 - 1,516
At 30 June 2023 12,316 3,475 15,791
Depreciation
At 1 July 2022 9,494 3,287 12,781
Charge for the year 1,096 188 1,284
At 30 June 2023 10,590 3,475 14,065
Net book value
At 30 June 2023 1,726 - 1,726
At 30 June 2022 1,306 188 1,494
4 Debtors 2023 2022
£ £
Trade debtors 3,971 21,396
Prepayments 100 43
4,071 21,439
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 48 20
Corporation tax 16,075 13,357
VAT 3,289 10,403
Mr. Patrick Graham Morgan 18,404 44,371
Mrs. Eva Ingela Morgan 30,052 33,663
Accruals 39 21
67,907 101,835
6 Ultimate controlling party and related party transactions
The company was under the control of throughout the current and previous period.
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 except for those disclosed below.
2023 2022
£ £
Equity dividends paid to Mr. Patrick Graham Morgan 42,778 41,000
Equity dividends paid to Mrs. Eva Ingela Morgan 15,347 15,125
Balance owing (to) / from Mr. Patrick Graham Morgan (18,404) (44,371)
Balance owing (to) / from Mrs. Eva Ingela Morgan (30,052) (33,663)
Interest at 2.25% per annum is charged on balances over £10,000 owed to the company.
7 Other information
SPATIAL CONSULTANTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
High Dyonside
Distington
Workington
Cumbria
CA14 4QQ
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