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Registration number: 11196189

SPM Surveying Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 29 February 2024

 

SPM Surveying Limited

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 9

 

SPM Surveying Limited

Company Information

Director

 

Mr S P Marron

Registered office



 

30 Sheepcot Lane
Watford
WD25 0DH

Accountants

SDT Accounting and Taxation Services Ltd
Chartered Certified Accountant
26 Beechwood Avenue
Chatham
Kent
ME5 7HH

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
SPM Surveying Limited
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SPM Surveying Limited for the year ended 29 February 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of SPM Surveying Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SPM Surveying Limited and state those matters that we have agreed to state to the Board of Directors of SPM Surveying Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SPM Surveying Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SPM Surveying Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SPM Surveying Limited. You consider that SPM Surveying Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of SPM Surveying Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






SDT Accounting and Taxation Services Ltd
Chartered Certified Accountant
26 Beechwood Avenue
Chatham
Kent
ME5 7HH

15 April 2024

 

SPM Surveying Limited

(Registration number: 11196189)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

32,433

41,307

Current assets

 

Debtors

10,506

8,312

Cash at bank and in hand

 

4,154

1,363

 

14,660

9,675

Prepayments and accrued income

 

1,793

2,149

Creditors: Amounts falling due within one year

6

(16,358)

(12,700)

Net current assets/(liabilities)

 

95

(876)

Total assets less current liabilities

 

32,528

40,431

Creditors: Amounts falling due after more than one year

7

(31,004)

(38,995)

Accruals and deferred income

 

(1,225)

(1,200)

Net assets

 

299

236

Capital and reserves

 

Called up share capital

1

1

Retained earnings

298

235

Shareholders' funds

 

299

236

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of 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.

 

SPM Surveying Limited

(Registration number: 11196189)
Abridged Balance Sheet as at 29 February 2024

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 15 April 2024
 

Mr S P Marron
Director

 

SPM Surveying Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
30 Sheepcot Lane
Watford
WD25 0DH
England

These financial statements were authorised for issue by the director on 15 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants, including non-monetary grants shall not be recognised until there is reasonable assurance that:
(a) the entity will comply with the conditions attaching to them; and
(b) the grants will be received

 

SPM Surveying Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Motor vehicle

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

SPM Surveying Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

SPM Surveying Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

10,811

13,769

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

569

54,650

55,219

Additions

1,936

-

1,936

At 29 February 2024

2,505

54,650

57,155

Depreciation

At 1 March 2023

249

13,663

13,912

Charge for the year

564

10,246

10,810

At 29 February 2024

813

23,909

24,722

Carrying amount

At 29 February 2024

1,692

30,741

32,433

At 28 February 2023

320

40,987

41,307

6

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £7,991 (2023 - £7,991l).

7

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £31,004 (2023 - £38,995).

 

SPM Surveying Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

8

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr S P Marron

Loan

2,499

3,232

(2,499)

3,232

         
       

 

2023

At 1 March 2022
£

Repayments by director
£

At 28 February 2023
£

Mr S P Marron

Loan

9,592

(7,093)

2,499