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Registered number: 10855216

SPYGLASS LIMITED

ACCOUNTS
FOR THE YEAR ENDED 31/07/2023

Prepared By:
VICTOR STEWART

SPYGLASS LIMITED

ACCOUNTS
FOR THE YEAR ENDED 31/07/2023
DIRECTORS
MS KATIE BERKELEY
MR CHRISTOPHER PALMER - Resigned 23.11.2022
REGISTERED OFFICE
THE WHITE HOUSE
164 BRIDGE ROAD
SARISBURY GREEN
SOUTHAMPTON
SO31 7EH
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 10855216
ACCOUNTANTS
VICTOR STEWART

SPYGLASS LIMITED

ACCOUNTS
FOR THEYEARENDED31/07/2023
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

SPYGLASS LIMITED

BALANCE SHEET AT 31/07/2023
20232022
Notes££
FIXED ASSETS
Tangible assets248,19532,002
CURRENT ASSETS
Stock17,17022,166
Debtors41,245136
Cash at bank and in hand626,19719,533
644,61241,835
CREDITORS: Amounts falling due within one year5824,182164,205
NET CURRENT LIABILITIES(179,570)(122,370)
TOTAL ASSETS LESS CURRENT LIABILITIES(131,375)(90,368)
CREDITORS: Amounts falling due after more than one year621,58329,070
NET LIABILITIES(152,958)(119,438)
CAPITAL AND RESERVES
Called up share capital811
Profit and loss account(152,959)(119,439)
SHAREHOLDERS' FUNDS(152,958)(119,438)
For the year ending 31/07/2023 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 accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 09/04/2024 and signed on their behalf by
.............................
MS KATIE BERKELEY
Director

SPYGLASS LIMITED

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/07/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Short Leasehold Propertiesstraight line OVER LIFE OF LEASE - 7 YEARS%
Fixtures and Fittingsreducing balance 20%
Equipmentreducing balance 10%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

SPYGLASS LIMITED

2. TANGIBLE FIXED ASSETS
Short LeaseholdFixtures
Propertiesand FittingsEquipmentTotal
££££
Cost
At 01/08/202275,40415,1565,69396,253
Additions12,105-12,91325,018
At 31/07/202387,50915,15618,606121,271
Depreciation
At 01/08/202251,74110,1902,32064,251
For the year6,2039931,6298,825
At 31/07/202357,94411,1833,94973,076
Net Book Amounts
At 31/07/202329,5653,97314,65748,195
At 31/07/202223,6634,9663,37332,002
3. STOCK 20232022
££
Stock comprises:
Stock17,17022,166
17,17022,166
4. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors136136
PAYE control126-
Prepayments983-
1,245136
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
VAT7334,019
Directors current account816,482149,541
Credit card4,5385,913
Trade creditors2,4294,732
824,182164,205

SPYGLASS LIMITED

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans (secured) >1yr21,58329,070
21,58329,070
7. EMPLOYEES
20232022
No.No.
Average number of employees43
8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
1 Class 1 shares of £1 each11
11
New shares issued during period:
0 Class 1 shares of £1 each01