Silverfin false false 31/10/2023 01/11/2022 31/10/2023 Mr K F Power Mrs S A Power 25 July 2024 The principal activity of the Company during the financial year was that of letting property. 00583315 2023-10-31 00583315 2022-10-31 00583315 core:CurrentFinancialInstruments 2023-10-31 00583315 core:CurrentFinancialInstruments 2022-10-31 00583315 core:ShareCapital 2023-10-31 00583315 core:ShareCapital 2022-10-31 00583315 core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31 00583315 core:FurtherSpecificReserve1ComponentTotalEquity 2022-10-31 00583315 core:CapitalRedemptionReserve 2023-10-31 00583315 core:CapitalRedemptionReserve 2022-10-31 00583315 core:RetainedEarningsAccumulatedLosses 2023-10-31 00583315 core:RetainedEarningsAccumulatedLosses 2022-10-31 00583315 core:PlantMachinery 2022-10-31 00583315 core:OfficeEquipment 2022-10-31 00583315 core:PlantMachinery 2023-10-31 00583315 core:OfficeEquipment 2023-10-31 00583315 2022-11-01 2023-10-31 00583315 bus:FilletedAccounts 2022-11-01 2023-10-31 00583315 bus:SmallEntities 2022-11-01 2023-10-31 00583315 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 00583315 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 00583315 bus:Director1 2022-11-01 2023-10-31 00583315 bus:Director2 2022-11-01 2023-10-31 00583315 core:PlantMachinery 2022-11-01 2023-10-31 00583315 core:OfficeEquipment 2022-11-01 2023-10-31 00583315 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure

Company No: 00583315 (England and Wales)

J R SPILLER LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

J R SPILLER LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

J R SPILLER LIMITED

BALANCE SHEET

As at 31 October 2023
J R SPILLER LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 312 389
Investment property 4 325,000 270,000
325,312 270,389
Current assets
Debtors 5 347 500
Cash at bank and in hand 7,333 8,083
7,680 8,583
Creditors: amounts falling due within one year 6 ( 10,316) ( 11,703)
Net current liabilities (2,636) (3,120)
Total assets less current liabilities 322,676 267,269
Provision for liabilities ( 54,138) ( 30,709)
Net assets 268,538 236,560
Capital and reserves
Called-up share capital 14,802 14,802
Fair value reserve 206,608 175,032
Capital redemption reserve 281 281
Profit and loss account 46,847 46,445
Total shareholders' funds 268,538 236,560

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.

Directors' responsibilities:

The financial statements of J R Spiller Limited (registered number: 00583315) were approved and authorised for issue by the Board of Directors on 25 July 2024. They were signed on its behalf by:

Mr K F Power
Director
J R SPILLER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
J R SPILLER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

J R Spiller Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

The company is run and administered by the directors of the company for whom no formal contracts of service are in place.

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 November 2022 1,695 797 2,492
At 31 October 2023 1,695 797 2,492
Accumulated depreciation
At 01 November 2022 1,528 575 2,103
Charge for the financial year 33 44 77
At 31 October 2023 1,561 619 2,180
Net book value
At 31 October 2023 134 178 312
At 31 October 2022 167 222 389

4. Investment property

Investment property
£
Valuation
As at 01 November 2022 270,000
Fair value movement 55,000
As at 31 October 2023 325,000

The investment properties class of fixed assets were adjusted on 31 October 2023 to fair value by the director who is internal to the company. The basis of this valuation was open market value.

There has been no valuation of investment property by an independent valuer.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 64,333 64,333

5. Debtors

2023 2022
£ £
Other debtors 347 500

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 582 769
Other creditors 9,734 10,934
10,316 11,703

7. Related party transactions

During the year the directors maintained an interest free loan which is repayable on demand. At the balance sheet date the amount due to the directors was £8,763 (2021 - £10,051).