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COMPANY REGISTRATION NUMBER: 05973549
SPH Business Solutions Limited
Filleted Unaudited Financial Statements
For the Year Ended
31 October 2023
SPH Business Solutions Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Current Assets
Debtors
6
897
2,960
Cash at bank and in hand
19,613
22,895
---------
---------
20,510
25,855
Creditors: amounts falling due within one year
7
37,043
38,563
---------
---------
Net Current Liabilities
16,533
12,708
---------
---------
Total Assets Less Current Liabilities
( 16,533)
( 12,708)
---------
---------
Net Liabilities
( 16,533)
( 12,708)
---------
---------
SPH Business Solutions Limited
Statement of Financial Position (continued)
31 October 2023
2023
2022
Note
£
£
£
Capital and Reserves
Called up share capital
100
100
Profit and loss account
( 16,633)
( 12,808)
---------
---------
Shareholders Deficit
( 16,533)
( 12,708)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 April 2024 , and are signed on behalf of the board by:
S P Hull
Director
Company registration number: 05973549
SPH Business Solutions Limited
Notes to the Financial Statements
Year Ended 31st October 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Park Drive, Tiptree, Colchester, Essex, CO5 0GW.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis. Revenue Recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Income Tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Tangible Assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment - 33% straight line
Impairment of Fixed Assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible Assets
Equipment
Total
£
£
Cost
At 1st November 2022 and 31st October 2023
1,244
1,244
-------
-------
Depreciation
At 1st November 2022 and 31st October 2023
1,244
1,244
-------
-------
Carrying amount
At 31st October 2023
-------
-------
At 31st October 2022
-------
-------
6. Debtors
2023
2022
£
£
Trade debtors
2,960
Other debtors
897
----
-------
897
2,960
----
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
325
951
Corporation tax
3,590
Social security and other taxes
704
2,512
Other creditors
36,014
31,510
---------
---------
37,043
38,563
---------
---------