1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 4,162,239 147,089 133,608 4,175,720 4,175,720 4,162,239 xbrli:pure xbrli:shares iso4217:GBP 02333823 2022-11-01 2023-10-31 02333823 2023-10-31 02333823 2022-10-31 02333823 2021-11-01 2022-10-31 02333823 2022-10-31 02333823 2021-10-31 02333823 bus:Director1 2022-11-01 2023-10-31 02333823 core:AfterOneYear 2023-10-31 02333823 core:AfterOneYear 2022-10-31 02333823 core:WithinOneYear 2023-10-31 02333823 core:WithinOneYear 2022-10-31 02333823 core:ShareCapital 2023-10-31 02333823 core:ShareCapital 2022-10-31 02333823 core:RevaluationReserve 2023-10-31 02333823 core:RevaluationReserve 2022-10-31 02333823 core:RetainedEarningsAccumulatedLosses 2023-10-31 02333823 core:RetainedEarningsAccumulatedLosses 2022-10-31 02333823 core:CostValuation core:Non-currentFinancialInstruments 2022-10-31 02333823 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-10-31 02333823 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-10-31 02333823 core:CostValuation core:Non-currentFinancialInstruments 2023-10-31 02333823 core:Non-currentFinancialInstruments 2023-10-31 02333823 core:Non-currentFinancialInstruments 2022-10-31 02333823 bus:SmallEntities 2022-11-01 2023-10-31 02333823 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 02333823 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 02333823 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 02333823 bus:FullAccounts 2022-11-01 2023-10-31
COMPANY REGISTRATION NUMBER: 02333823
D. Spenceley Limited
Filleted Unaudited Financial Statements
For the year ended
31 October 2023
D. Spenceley Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
6
4,175,720
4,162,239
Current assets
Debtors
7
1,464
9,509
Cash at bank and in hand
6,389
43,983
-------
--------
7,853
53,492
Creditors: amounts falling due within one year
8
1,347,209
1,420,639
------------
------------
Net current liabilities
1,339,356
1,367,147
------------
------------
Total assets less current liabilities
2,836,364
2,795,092
Creditors: amounts falling due after more than one year
9
803,626
657,816
Provisions
Taxation including deferred tax
191,060
224,462
------------
------------
Net assets
1,841,678
1,912,814
------------
------------
D. Spenceley Limited
Statement of Financial Position (continued)
31 October 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Revaluation reserve
888,812
889,843
Profit and loss account
952,766
1,022,871
------------
------------
Shareholders funds
1,841,678
1,912,814
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
D A Spenceley
Director
Company registration number: 02333823
D. Spenceley Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Craggshill Farmhouse, Stockwell Gate, Whaplode, Lincolnshire, PE12 6UD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through the statement of comprehensive income .
Going concern
The director has prepared the financial statements on a going concern basis. The company has made a loss however the company has support from the director. For this reason the financial statements have been prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:- Investment property Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Sofp spare note 1 heading
The business loan from Investec Bank is an interest free loan.
6. Investments
Other investments other than loans
£
Cost
At 1 November 2022
4,162,239
Additions
147,089
Revaluations
( 133,608)
------------
At 31 October 2023
4,175,720
------------
Impairment
At 1 November 2022 and 31 October 2023
------------
Carrying amount
At 31 October 2023
4,175,720
------------
At 31 October 2022
4,162,239
------------
7. Debtors
2023
2022
£
£
Other debtors
1,464
9,509
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
22,985
21,378
Other creditors
1,324,224
1,399,261
------------
------------
1,347,209
1,420,639
------------
------------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
803,626
657,816
---------
---------
The bank loan is secured against assets to which it relates.