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Company registration number:09050019
SPES FINANCIAL LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 July 2023
SPES FINANCIAL LTD
BALANCE SHEET
AS AT 31 July 2023
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets3466658
466658
CURRENT ASSETS
Cash at bank and in hand1981,312
1981,312
CREDITORS
Amounts falling due within one year 4 (16,522) (9,435)
NET CURRENT ASSETS (16,324) (8,123)
TOTAL ASSETS LESS
CURRENT LIABILITIES (15,858) (7,465)
Creditors falling due after one year5(29,200)(69,822)
NET ASSETS (45,058) (77,287)
CAPITAL AND RESERVES
Called-up equity share capital 6 500 500
Profit and loss account (45,558) (77,787)
SHAREHOLDERS FUNDS (45,058) (77,287)
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
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.
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.
..........................................................................
Mr Yancheng Liu
27 February 2024
The annexed notes form part of these financial statements.

SPES FINANCIAL LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JULY 2023
Share Share P and L Revaluation Other Total
Capital Premium Account reserve reserves equity
£ £ £ £ £ £
Balance at 1 June 20215000(59,041)00(58,541)
Changes in equity
Total Comprehensive Income00(18,746)00(18,746)
Balance at 31 May 20225000(77,787)00(77,287)
Changes in equity
Total comprehensive income0032,2290032,229
Balance at 31 July 20235000(45,558)00(45,058)

SPES FINANCIAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023
1. Accounting policies
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
Basis of preparing the financial statements
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.
Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.
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:
Plant and Machinery 25% reducing balance basi
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.
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.
2.Employees
The average number of persons employed by the company (including directors) during the year was 2.
3.Tangible fixed assets
Plant Total
Cost
At start of period 4,988 4,988
At end of period 4,988 4,988
Depreciation
At start of period 4,330 4,330
Provided during the period 192 192
At end of period 4,522 4,522
Net Book Value
At start of period 658 658
At end of period 466 466
4.Creditors due within one year
20232022
££
Other taxes and social security costs180725
Accruals and deferred income4521,161
Loan from directors15,8917,550
16,522 9,435
5.Creditors due after one year
20232022
££
Bank Loans03,622
Loan from directors29,20066,200
29,200 69,822
Directors current accounts are unsecured which comprise £1,799 from director Mr Yancheng Liu and £27,399 from director Mr Xu Zhang.
6. Share capital Alloted, Issued and fully paid
2023 2022
£ £
Ordinary shares of £5 each500500
Total issued share capital500500
7.Related Party Transactions
There were no related party transactions in which the director has a direct and material interest.