Company Registration No. 09068384 (England and Wales)
SPOKE AND STRINGER LIMITED
Unaudited accounts
for the year ended 30 June 2023
SPOKE AND STRINGER LIMITED
Unaudited accounts
Contents
SPOKE AND STRINGER LIMITED
Company Information
for the year ended 30 June 2023
Company Number
09068384 (England and Wales)
Registered Office
12 WHITING WAY
WRINGTON
SOMERSET
BS40 5AS
ENGLAND
Accountants
Streets Steele Limited
Orion House, Axis 4/5
Woodlands, Bradley Stoke
Bristol
BS32 4JT
SPOKE AND STRINGER LIMITED
Statement of financial position
as at 30 June 2023
Tangible assets
28,938
42,855
Cash at bank and in hand
47,518
93,838
Creditors: amounts falling due within one year
(226,764)
(184,572)
Net current liabilities
(6,440)
(28,361)
Total assets less current liabilities
22,498
14,494
Creditors: amounts falling due after more than one year
(514,569)
(478,595)
Net liabilities
(492,071)
(464,101)
Called up share capital
100
100
Profit and loss account
(492,171)
(464,201)
Shareholders' funds
(492,071)
(464,101)
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 February 2024 and were signed on its behalf by
K Crews
Director
Company Registration No. 09068384
SPOKE AND STRINGER LIMITED
Notes to the Accounts
for the year ended 30 June 2023
SPOKE AND STRINGER LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09068384. The registered office is 12 WHITING WAY, WRINGTON, SOMERSET, BS40 5AS, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
25% Straight Line
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
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.
SPOKE AND STRINGER LIMITED
Notes to the Accounts
for the year ended 30 June 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 July 2022
18,000
11,971
24,915
15,168
3,803
73,857
Additions
-
659
-
95
1,438
2,192
At 30 June 2023
18,000
12,630
24,915
15,263
5,241
76,049
At 1 July 2022
-
8,978
13,270
7,154
1,600
31,002
Charge for the year
2,571
3,089
5,625
3,812
1,012
16,109
At 30 June 2023
2,571
12,067
18,895
10,966
2,612
47,111
At 30 June 2023
15,429
563
6,020
4,297
2,629
28,938
At 30 June 2022
18,000
2,993
11,645
8,014
2,203
42,855
Amounts falling due within one year
Trade debtors
7,105
22,279
Amounts due from group undertakings etc.
111,865
-
Accrued income and prepayments
17,836
3,094
Other debtors
18,500
18,500
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
75,899
-
Obligations under finance leases and hire purchase contracts
9,536
13,658
Trade creditors
41,602
51,234
Taxes and social security
7,495
4,071
Other creditors
38,818
27,730
Loans from directors
57,341
60,543
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
438,988
438,988
SPOKE AND STRINGER LIMITED
Notes to the Accounts
for the year ended 30 June 2023
8
Transactions with related parties
During the year the company transacted with fellow group member companies.
The total income from group companies for the year ended 30 June 2023 was £42,865 (2022: £0)
The total expenses recharged to group companies for the year ended 30 June 2023 was £43,365 (2022: £0)
There were outstanding receivable balances from group companies as at 30 June 2023 of £111,865 (2022: £0)
All outstanding balances are interest free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 21 (2022: 22).
10
Reconciliations on adoption of FRS 102