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Registered number: 11798132
Spw Food Services Limited
Financial Statements
For The Year Ended 31 January 2024
William Price & Co Limited
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11798132
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 17,250 20,700
Tangible Assets 5 8,367 16,182
25,617 36,882
CURRENT ASSETS
Stocks 6 5,000 2,000
Debtors 7 548 -
Cash at bank and in hand 709 3,099
6,257 5,099
Creditors: Amounts Falling Due Within One Year 8 (26,395 ) (23,676 )
NET CURRENT ASSETS (LIABILITIES) (20,138 ) (18,577 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,479 18,305
Creditors: Amounts Falling Due After More Than One Year 9 (5,016 ) (13,266 )
NET ASSETS 463 5,039
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 461 5,037
SHAREHOLDERS' FUNDS 463 5,039
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S Wallace
Director
23 April 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Spw Food Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11798132 . The registered office is Westbury Court Church Road, Westbury-On-Trym, Bristol, BS9 3EF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 5 years straight line.
2.5. Stocks and Work in Progress
Stocks 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 10)
12 10
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 34,500
As at 31 January 2024 34,500
Amortisation
As at 1 February 2023 13,800
Provided during the period 3,450
As at 31 January 2024 17,250
Net Book Value
As at 31 January 2024 17,250
As at 1 February 2023 20,700
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 February 2023 39,075
As at 31 January 2024 39,075
Depreciation
As at 1 February 2023 22,893
Provided during the period 7,815
As at 31 January 2024 30,708
...CONTINUED
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Net Book Value
As at 31 January 2024 8,367
As at 1 February 2023 16,182
6. Stocks
2024 2023
£ £
Stock 5,000 2,000
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 548 -
548 -
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,161 2,124
Other taxes and social security 17,822 5,310
VAT 5,312 5,434
Other creditors - 9,058
Accruals and deferred income 2,100 1,750
26,395 23,676
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 5,016 13,266
5,016 13,266
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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