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Registration number: 12051972

Springfield Trading Ltd

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 October 2023

 

Springfield Trading Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 4

 

Springfield Trading Ltd

(Registration number: 12051972)
Abridged Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

15,660

15,660

Other financial assets

5

124,665

59,309

 

140,325

74,969

Current assets

 

Debtors

20,867

10,899

Cash at bank and in hand

 

167,276

209,025

 

188,143

219,924

Creditors: Amounts falling due within one year

(11,715)

(78,653)

Net current assets

 

176,428

141,271

Net assets

 

316,753

216,240

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

(2,186)

(19,156)

Profit and loss account

318,839

235,296

Total equity

 

316,753

216,240

 

Springfield Trading Ltd

(Registration number: 12051972)
Abridged Balance Sheet as at 31 October 2023

For the financial year ending 31 October 2023 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 of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

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

Approved and authorised by the Board on 26 July 2024 and signed on its behalf by:
 

Mr S J Davies

Director

Miss C Powell

Director

 

Springfield Trading Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

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:
Springfield
St. Clears
Carmarthen
Carmarthenshire
SA33 4AH
Wales

These financial statements were authorised for issue by the Board on 26 July 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Tax

The tax expense for the period comprises current and deferred 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 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.

Investments

Investments in equity shares where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit or loss account. Investments in equity shares where fair value cannot be measured reliably are measured at cost less impairment. The fair value used for listed equity shares and bonds is the closing market price at the balance sheet date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investments

Total
£

Cost or valuation

At 1 November 2022

15,660

Carrying amount

At 31 October 2023

15,660

At 31 October 2022

15,660

 

Springfield Trading Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 November 2022

59,309

59,309

Fair value adjustments

16,970

16,970

Additions

127,268

127,268

Disposals

(78,882)

(78,882)

At 31 October 2023

124,665

124,665

Carrying amount

At 31 October 2023

124,665

124,665

6

Related party transactions

Advances to directors


Mr S J Davies and Miss C Powell

During the period Mr S J Davies and Miss C Powell went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £220,399 (2022 - £130,407). At the year end the amount outstanding from Mr S J Davies and Miss C Powell was £Nil (2022 - £10,899). Interest has been charged at the commercial rate.