Acorah Software Products - Accounts Production 14.5.601 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04179163 Mr J T Minett Mr J T Minett The Spencer Group Holdings Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04179163 2022-12-31 04179163 2023-12-31 04179163 2023-01-01 2023-12-31 04179163 frs-core:CurrentFinancialInstruments 2023-12-31 04179163 frs-core:ComputerEquipment 2023-12-31 04179163 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04179163 frs-core:ComputerEquipment 2022-12-31 04179163 frs-core:NetGoodwill 2023-12-31 04179163 frs-core:NetGoodwill 2023-01-01 2023-12-31 04179163 frs-core:NetGoodwill 2022-12-31 04179163 frs-core:ShareCapital 2023-12-31 04179163 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04179163 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04179163 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04179163 frs-bus:SmallEntities 2023-01-01 2023-12-31 04179163 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04179163 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04179163 1 2023-01-01 2023-12-31 04179163 frs-bus:Director1 2023-01-01 2023-12-31 04179163 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 04179163 frs-countries:EnglandWales 2023-01-01 2023-12-31 04179163 2021-12-31 04179163 2022-12-31 04179163 2022-01-01 2022-12-31 04179163 frs-core:CurrentFinancialInstruments 2022-12-31 04179163 frs-core:ShareCapital 2022-12-31 04179163 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04179163
The Spencer Group Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04179163
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,567 9,042
3,567 9,042
CURRENT ASSETS
Debtors 6 296,515 399,984
Cash at bank and in hand 423,711 473,604
720,226 873,588
Creditors: Amounts Falling Due Within One Year 7 (283,139 ) (348,553 )
NET CURRENT ASSETS (LIABILITIES) 437,087 525,035
TOTAL ASSETS LESS CURRENT LIABILITIES 440,654 534,077
NET ASSETS 440,654 534,077
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 440,554 533,977
SHAREHOLDERS' FUNDS 440,654 534,077
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J T Minett
Director
17th April 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Spencer Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04179163 . The registered office is Co-Space, Quadrant House, Broad Street Mall, Reading, RG1 7QE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 3 years straight line
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2022: 16)
19 16
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 70,000
As at 31 December 2023 70,000
Amortisation
As at 1 January 2023 70,000
As at 31 December 2023 70,000
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 39,126
Additions 1,335
As at 31 December 2023 40,461
Depreciation
As at 1 January 2023 30,084
Provided during the period 6,810
As at 31 December 2023 36,894
Net Book Value
As at 31 December 2023 3,567
As at 1 January 2023 9,042
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 275,695 368,712
Prepayments and accrued income 20,820 31,272
296,515 399,984
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 13,094 1,532
Corporation tax 69,946 125,530
Other taxes and social security 26,519 5,981
VAT 87,870 93,764
Other creditors 14,098 10,433
Accruals and deferred income 60,088 99,367
Amounts owed to group undertakings 11,524 11,946
283,139 348,553
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
The company paid dividends to its parent company The Spencer Group Holdings Limited of £315,988 (2022: £349,249).
As at 31 December 2023 the company owed its parent company The Spencer Group Holdings Limited £11,524 (2022: £11,946).
10. Ultimate Controlling Party
The company's ultimate controlling party is The Spencer Group Holdings Limited by virtue of his ownership of 100% of the issued share capital in the company.
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