Caseware UK (AP4) 2022.0.179 2022.0.179 2024-02-292024-02-29true2023-03-01falseThe principal activity of the compay is the supply and fitting of windows and conservatories.88trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05376282 2023-03-01 2024-02-29 05376282 2022-03-01 2023-02-28 05376282 2024-02-29 05376282 2023-02-28 05376282 2022-03-01 05376282 c:Director1 2023-03-01 2024-02-29 05376282 d:Buildings 2023-03-01 2024-02-29 05376282 d:Buildings 2024-02-29 05376282 d:Buildings 2023-02-28 05376282 d:Buildings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05376282 d:PlantMachinery 2023-03-01 2024-02-29 05376282 d:PlantMachinery 2024-02-29 05376282 d:PlantMachinery 2023-02-28 05376282 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05376282 d:MotorVehicles 2023-03-01 2024-02-29 05376282 d:MotorVehicles 2024-02-29 05376282 d:MotorVehicles 2023-02-28 05376282 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05376282 d:OfficeEquipment 2023-03-01 2024-02-29 05376282 d:OfficeEquipment 2024-02-29 05376282 d:OfficeEquipment 2023-02-28 05376282 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05376282 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05376282 d:CurrentFinancialInstruments 2024-02-29 05376282 d:CurrentFinancialInstruments 2023-02-28 05376282 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 05376282 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 05376282 d:ShareCapital 2024-02-29 05376282 d:ShareCapital 2023-02-28 05376282 d:RetainedEarningsAccumulatedLosses 2024-02-29 05376282 d:RetainedEarningsAccumulatedLosses 2023-02-28 05376282 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 05376282 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 05376282 d:TaxLossesCarry-forwardsDeferredTax 2024-02-29 05376282 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 05376282 c:OrdinaryShareClass1 2023-03-01 2024-02-29 05376282 c:OrdinaryShareClass1 2024-02-29 05376282 c:FRS102 2023-03-01 2024-02-29 05376282 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05376282 c:FullAccounts 2023-03-01 2024-02-29 05376282 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05376282 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05376282









SPECTRUM HOME IMPROVEMENTS (CAMBRIDGE) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
SPECTRUM HOME IMPROVEMENTS (CAMBRIDGE) LIMITED
REGISTERED NUMBER: 05376282

BALANCE SHEET
AS AT 29 FEBRUARY 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
324,204
334,463

  
324,204
334,463

CURRENT ASSETS
  

Stocks
  
5,273
40,633

Debtors: amounts falling due within one year
 5 
107,578
64,430

Cash at bank and in hand
  
857,041
522,345

  
969,892
627,408

Creditors: amounts falling due within one year
 6 
(223,984)
(155,462)

NET CURRENT ASSETS
  
 
 
745,908
 
 
471,946

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,070,112
806,409

PROVISIONS FOR LIABILITIES
  

Deferred tax
 7 
(3,271)
(3,329)

  
 
 
(3,271)
 
 
(3,329)

NET ASSETS
  
1,066,841
803,080


CAPITAL AND RESERVES
  

Called up share capital 
 8 
1
1

Profit and loss account
  
1,066,840
803,079

  
1,066,841
803,080


Page 1

 
SPECTRUM HOME IMPROVEMENTS (CAMBRIDGE) LIMITED
REGISTERED NUMBER: 05376282
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr J G Christmas
Director

Date: 15 April 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SPECTRUM HOME IMPROVEMENTS (CAMBRIDGE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


GENERAL INFORMATION

Spectrum Home Improvements (Cambridge) Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 89 Field View, Bar Hill, Cambridge, CB23 8SY.
The principal trading address is 23 Viking Way, Bar Hill, Cambridge, CB23 8EL.
The Company’s functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover comprises revenue recognised by the Company in respect of the supply and fitting of windows, doors and conservatories during the year, exclusive of Value Added Tax and trade discounts. Turnover is recognised as the fair value of the consideration received or receivable.
Turnover from a contract to provide serviuces is recognised in the period in which the services are supplied in accordance with the stage of completion of the contract, when the following conditions are satisfied:
• the amount of turnover can be measured reliably;
• it is probable that the Company will receive the consideration due under the contract;
• the stage of completion of the contract at the end of the reporting period can be measured reliably;
• the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
SPECTRUM HOME IMPROVEMENTS (CAMBRIDGE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.3
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Plant and machinery
-
17%
straight line
Motor vehicles
-
14%
straight line
Office equipment
-
17%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

STOCKS

Stock and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.

 
2.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
SPECTRUM HOME IMPROVEMENTS (CAMBRIDGE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).

Page 5

 
SPECTRUM HOME IMPROVEMENTS (CAMBRIDGE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


TANGIBLE FIXED ASSETS







Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



COST OR VALUATION


At 1 March 2023
342,429
21,579
79,650
25,512
469,170


Additions
-
880
-
1,494
2,374



At 29 February 2024

342,429
22,459
79,650
27,006
471,544



DEPRECIATION


At 1 March 2023
27,651
20,561
68,663
17,832
134,707


Charge for the year on owned assets
5,015
271
4,732
2,615
12,633



At 29 February 2024

32,666
20,832
73,395
20,447
147,340



NET BOOK VALUE



At 29 February 2024
309,763
1,627
6,255
6,559
324,204



At 28 February 2023
314,778
1,018
10,987
7,680
334,463


5.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
107,578
64,430

107,578
64,430


Page 6

 
SPECTRUM HOME IMPROVEMENTS (CAMBRIDGE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
52,374
49,732

Corporation tax
100,237
55,152

Other taxation and social security
34,901
12,120

Other creditors
33,085
35,326

Accruals and deferred income
3,387
3,132

223,984
155,462


Included within other creditors are amounts due to defined contribution pension schemes of £735 (2023 - £726).


7.


DEFERRED TAXATION






2024
2023


£

£






At beginning of year
3,329
6,803


Charged to profit or loss
(58)
(3,474)



AT END OF YEAR
3,271
3,329

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
3,350
3,407

Short term timing differences
(79)
(78)

3,271
3,329

Page 7

 
SPECTRUM HOME IMPROVEMENTS (CAMBRIDGE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 Ordinary share of £1
1
1


 
Page 8