Company Registration No. 07120975 (England and Wales)
Spread Research Limited
Annual Report and Unaudited Financial Statements
For the Year Ended
31 December 2023
PAGES FOR FILING WITH REGISTRAR
SPREAD RESEARCH LIMITED
Spread Research Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SPREAD RESEARCH LIMITED
Spread Research Limited
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
107,472
79,866
Cash at bank and in hand
9,654
28,234
117,126
108,100
Creditors: amounts falling due within one year
5
(248,017)
(153,591)
Net current liabilities
(130,891)
(45,491)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(130,893)
(45,493)
Total equity
(130,891)
(45,491)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 February 2024 and are signed on its behalf by:
Ms C Sirou
Director
Company Registration No. 07120975
SPREAD RESEARCH LIMITED
Spread Research Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Spread Research Limited is a private company limited by shares incorporated in England and Wales. The registered office is Floor 1, Capital House, 8 Pittman Court, Pittman Way, Fulwood, Preston, Lancashire, United Kingdom, PR2 9ZG.
The company trades from 20 Boulevard Eugene Deruelle, Le Britannia Bat B, Lyon, Cedex 03, France
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting polices adopted are set out below.
1.2
Going concern
The financial statements have been prepared on a going concern basis. The company is technically insolvent at the balance sheet date with liabilities exceeding assets by £130,891, after the inclusion of a loan from the holding company of £109,603. The directors are of the opinion that the company will continue in business in the foreseeable future with their continued support.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. The company only has financial assets and liabilities of a kind that qualify as basic financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are recognised at the settlement amount.
SPREAD RESEARCH LIMITED
Spread Research Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at their settlement amount after allowing for any trade discount due.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
2023
2022
Number
Number
Total
1
1
SPREAD RESEARCH LIMITED
Spread Research Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
45,652
12,949
Other debtors
61,820
66,917
107,472
79,866
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
19,236
11,408
Amounts owed to group undertakings
109,603
57,645
Taxation and social security
13,569
2,844
Other creditors
105,609
81,694
248,017
153,591