2022-09-012023-08-312023-08-31false04778001SPS BUILDING COMPANY 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SPS BUILDING COMPANY LIMITED

Registered Number
04778001
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

SPS BUILDING COMPANY LIMITED
Company Information
for the year from 1 September 2022 to 31 August 2023

Directors

SPENCER, Jayson Ross
SPENCER, Melanie Jane
SPENCER, Sean Patrick Daniel

Company Secretary

SPENCER, Melanie Jane

Registered Address

125 Frinton Road
Holland On Sea
Clacton
CO15 5UP

Registered Number

04778001 (England and Wales)
SPS BUILDING COMPANY LIMITED
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets531,04842,923
31,04842,923
Current assets
Stocks63,0003,000
Debtors7258,104139,080
Cash at bank and on hand418,109109,335
679,213251,415
Creditors amounts falling due within one year8(630,786)(205,849)
Net current assets (liabilities)48,42745,566
Total assets less current liabilities79,47588,489
Creditors amounts falling due after one year9(47,727)(75,000)
Net assets31,74813,489
Capital and reserves
Called up share capital100100
Profit and loss account31,64813,389
Shareholders' funds31,74813,489
The financial statements were approved and authorised for issue by the Board of Directors on 23 November 2023, and are signed on its behalf by:
SPENCER, Sean Patrick Daniel
Director
Registered Company No. 04778001
SPS BUILDING COMPANY LIMITED
Notes to the Financial Statements
for the year ended 31 August 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year22
5.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 September 2225,06198,099-123,160
Additions--1,0701,070
Disposals-(8,200)-(8,200)
At 31 August 2325,06189,8991,070116,030
Depreciation and impairment
At 01 September 2213,32266,915-80,237
Charge for year2,9347,14826810,350
On disposals-(5,605)-(5,605)
At 31 August 2316,25668,45826884,982
Net book value
At 31 August 238,80521,44180231,048
At 31 August 2211,73931,184-42,923
6.Stocks

2023

2022

££
Other stocks3,0003,000
Total3,0003,000
7.Debtors

2023

2022

££
Trade debtors / trade receivables217,777108,786
Other debtors37,88227,546
Prepayments and accrued income2,4452,748
Total258,104139,080
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables73,26160,107
Bank borrowings and overdrafts27,27327,273
Taxation and social security75,52230,599
Other creditors33,2306,704
Accrued liabilities and deferred income421,50081,166
Total630,786205,849
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts47,72775,000
Total47,72775,000