Registered number
08603389
Springbourne Tech Limited
Unaudited Filleted Accounts
31 July 2023
Springbourne Tech Limited
Registered number: 08603389
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,683 727
Current assets
Debtors 4 20,873 24,208
Cash at bank and in hand 11,469 5,140
32,342 29,348
Creditors: amounts falling due within one year 5 (21,489) (20,170)
Net current assets 10,853 9,178
Total assets less current liabilities 14,536 9,905
Creditors: amounts falling due after more than one year 6 (3,923) (5,600)
Provisions for liabilities (699) (137)
Net assets 9,914 4,168
Capital and reserves
Called up share capital 1 1
Profit and loss account 9,913 4,167
Shareholders' funds 9,914 4,168
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 D Vernon
Director
Approved by the board on 18 January 2024
Springbourne Tech Limited
Notes to the Accounts
for the year ended 31 July 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:
Computer & office equipment over 5 years
Vehicles over 5 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 3,552 1,500 5,052
Additions 330 3,958 4,288
Disposals - (1,500) (1,500)
At 31 July 2023 3,882 3,958 7,840
Depreciation
At 1 August 2022 3,325 1,000 4,325
Charge for the year 157 675 832
On disposals - (1,000) (1,000)
At 31 July 2023 3,482 675 4,157
Net book value
At 31 July 2023 400 3,283 3,683
At 31 July 2022 227 500 727
4 Debtors 2023 2022
£ £
Trade debtors 1,392 4,343
Directors account 16,615 17,346
Other debtors 2,866 2,519
20,873 24,208
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,680 1,637
Trade creditors 2,772 3,100
Taxation and social security costs 16,947 14,658
Other creditors 90 775
21,489 20,170
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 3,923 5,600
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
David Vernon
Short term loan 8,673 - (366) 8,307
Tamsin Vernon
Short term loan 8,673 - (365) 8,308
17,346 - (731) 16,615
The loans are non-interest bearing and repayable on demand.
8 Other information
Springbourne Tech Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit A, Farriers Courtyard
Spelmonden Farm, Spelmonden Road
Goudhurst
Kent
TN17 1HE
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