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Company registration number:09050019
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SPES FINANCIAL LTD
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FINANCIAL STATEMENTS |
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FOR THE PERIOD ENDED 31 July 2023 |
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SPES FINANCIAL LTD |
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BALANCE SHEET |
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AS AT 31 July 2023
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2023 |
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2022 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Tangible assets | | | 3 | | | 466 | | | | 658 | |
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| | | | | | | 466 | | | | 658 | |
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CURRENT ASSETS |
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Cash at bank and in hand | | | | 198 | | | | 1,312 | | | | |
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| | | | | 198 | | | | 1,312 | | | |
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CREDITORS |
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Amounts falling due within one year |
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4 |
(16,522) |
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(9,435) |
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NET CURRENT ASSETS |
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(16,324) |
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(8,123) |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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(15,858) |
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(7,465) |
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Creditors falling due after one year | | 5 | | | (29,200) | | | | (69,822) | |
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NET ASSETS |
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(45,058) |
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(77,287) |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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6 |
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500 |
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500 |
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Profit and loss account |
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(45,558) |
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(77,787) |
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SHAREHOLDERS FUNDS |
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(45,058) |
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(77,287) |
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For the period ending 31 July 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 27 February 2024 and signed on its behalf. | | | | | | | |
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The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
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.......................................................................... |
Mr Yancheng Liu |
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27 February 2024
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The annexed notes form part of these financial statements. | | | | | | | |
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SPES FINANCIAL LTD | | | | | | |
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STATEMENT OF CHANGES IN EQUITY | | | | | | |
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FOR THE PERIOD ENDED 31 JULY 2023 | | |
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Share |
Share |
P and L |
Revaluation |
Other |
Total |
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Capital |
Premium |
Account |
reserve |
reserves |
equity |
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£ |
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£ |
£ |
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Balance at 1 June 2021 | | 500 | 0 | (59,041) | 0 | 0 | (58,541) |
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Changes in equity | | | | | | | | | | |
Total Comprehensive Income | | 0 | 0 | (18,746) | 0 | 0 | (18,746) |
Balance at 31 May 2022 | | 500 | 0 | (77,787) | 0 | 0 | (77,287) |
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Changes in equity | | | | | | | | | | |
Total comprehensive income | | 0 | 0 | 32,229 | 0 | 0 | 32,229 |
Balance at 31 July 2023 | | 500 | 0 | (45,558) | 0 | 0 | (45,058) |
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SPES FINANCIAL LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE PERIOD ENDED 31 JULY 2023 |
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1. |
Accounting policies |
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| Statutory information | | | | | | | |
| Spes Financial Ltd is a private company limited by shares incorporated in England within the United Kingdom. The address of the registered office is: Suite 2a Blackthorn House, St Pauls Square, Birmingham, England, B3 1RL The company's registration number is : 09050019 | |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer. | |
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| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation. Depreciation i provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: | |
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| Plant and Machinery 25% reducing balance basi | |
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| Government grants | | | | | | | |
| The Coronavirus Job Retention Scheme Grant is recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants from city council are recognised as income in the period in which it becomes receivable. |
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| Pension Scheme | | | | | | | | |
| The company operates a defined contribution pension scheme, Nest pension scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year. | |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 2. |
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3. | Tangible fixed assets | | | | | | | | | |
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Plant |
Total |
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| Cost | | | | | | | | | | |
| At start of period | |
4,988 |
4,988 | |
| At end of period | |
4,988 |
4,988 | |
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| Depreciation | | | | | | | | | | |
| At start of period | |
4,330 |
4,330 | |
| Provided during the period |
192 |
192 | |
| At end of period | |
4,522 |
4,522 | |
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| Net Book Value | | | | | | | | | |
| At start of period | |
658 |
658 | |
| At end of period | |
466 |
466 | |
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4. | Creditors due within one year | | | | | |
| | | | | 2023 | 2022 | | |
| | | | | £ | £ | | |
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| Other taxes and social security costs | | 180 | 725 | | |
| Accruals and deferred income | | 452 | 1,161 | | |
| Loan from directors | | | 15,891 | 7,550 | | |
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| | | | | 16,522 | 9,435 | | |
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5. | Creditors due after one year | | | | | |
| | | | | 2023 | 2022 | | |
| | | | | £ | £ | | |
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| Bank Loans | | 0 | 3,622 | | |
| Loan from directors | | | 29,200 | 66,200 | | |
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| | | | | 29,200 | 69,822 | | |
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| Directors current accounts are unsecured which comprise £1,799 from director Mr Yancheng Liu and £27,399 from director Mr Xu Zhang. |
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6. |
Share capital |
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Alloted, Issued and fully paid |
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2023 |
2022 |
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£ |
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| Ordinary shares of £5 each | | | 500 | 500 | | | |
| Total issued share capital | | | 500 | 500 | | | |
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7. | Related Party Transactions | | | | | | | | |
| There were no related party transactions in which the director has a direct and material interest. | |
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