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Company registration number: 04569258
SPENCE TERRACE INVESTMENTS LIMITED
REPORT OF THE DIRECTORS' AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 October 2023

SPENCE TERRACE INVESTMENTS LIMITED
BALANCE SHEET
AS AT 31 October 2023
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets311
Tangible assets48361,114
8371,115
CURRENT ASSETS
Stocks3,1243,000
Debtors3,8023,224
Cash at bank and in hand66,91284,106
73,83890,330
CREDITORS
Amounts falling due within one year (66,519) (71,993)
NET CURRENT ASSETS 7,319 18,337
TOTAL ASSETS LESS
CURRENT LIABILITIES 8,156 19,452
PROVISIONS FOR LIABILITIES(209)(278)
NET ASSETS 7,947 19,174
CAPITAL AND RESERVES
Called-up equity share capital 100 100
Profit and loss account 7,847 19,074
SHAREHOLDERS FUNDS 7,947 19,174
For the year ending 31 October 2023 the company was entitled to exemption 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 the accounts.
All the members have consented to the preparation of abridged financial statements for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.
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. Approved by the board of directors on 23 April 2024 and signed on its behalf.
..........................................................................
T S Ho
23 April 2024
The annexed notes form part of these financial statements.

SPENCE TERRACE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
1. Accounting policies
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax.
Intangible Assets
Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over its estimated economic life of ten years.
Fixed Assets
Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Leasehold Property - 10% per annum on cost Fixtures and fittings - 25% reducing balance basis
Stocks and Work In Progress
Stocks and work in progress are valued at the lower of cost and net realisable value.
Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date.
Pension Scheme
The company operates a statutory contribution pension scheme. The pension charge represented the amounts payable by the company to the fund in respect of the year.
2.Employees
The average number of persons employed by the company (including directors) during the year was 7.
3.Intangible fixed assets
Total
Cost
At start of period70,000
At end of period 70,000
Amortisation
At start of period69,999
At end of period69,999
Net Book Values
At start of period1
At end of period1
4.Tangible fixed assets
Total
Cost
At start of period21,613
At end of period21,613
Depreciation
At start of period20,499
Provided during the period278
At end of period20,777
Net Book Value
At start of period1,114
At end of period836
5.
Related Party Transactions
The directors have maintained loans to the company. No interest is being charged on these loans. The balances outstanding at the balance sheet date were £43,559 (2022 : £47,902). The company occupies business premises which are held under a lease between one of the directors and an unconnected third party. The company has agreed to meet all property obligations under the lease whilst it is the occupier of the premises. A shareholder, who is a family member of the directors, has maintained a loan to the company. No interest is being charged on this loan. The balance outstanding was £106 (2022: £1,506). During the year, the company paid dividends totalling £18,000 to its directors.
6.Pension costs
The company operates a statutory contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund.