Acorah Software Products - Accounts Production 15.0.400 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 04925835 Mr Hirsch Rottenberg Mr Hirsch Rottenberg true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04925835 2022-10-31 04925835 2023-10-31 04925835 2022-11-01 2023-10-31 04925835 frs-core:CurrentFinancialInstruments 2023-10-31 04925835 frs-core:Non-currentFinancialInstruments 2023-10-31 04925835 frs-core:FurnitureFittings 2023-10-31 04925835 frs-core:FurnitureFittings 2022-11-01 2023-10-31 04925835 frs-core:FurnitureFittings 2022-10-31 04925835 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 04925835 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 04925835 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-10-31 04925835 frs-core:ShareCapital 2023-10-31 04925835 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 04925835 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 04925835 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 04925835 frs-bus:SmallEntities 2022-11-01 2023-10-31 04925835 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 04925835 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 04925835 1 2022-11-01 2023-10-31 04925835 frs-bus:Director1 2022-11-01 2023-10-31 04925835 frs-countries:EnglandWales 2022-11-01 2023-10-31 04925835 2021-10-31 04925835 2022-10-31 04925835 2021-11-01 2022-10-31 04925835 frs-core:CurrentFinancialInstruments 2022-10-31 04925835 frs-core:Non-currentFinancialInstruments 2022-10-31 04925835 frs-core:ShareCapital 2022-10-31 04925835 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 04925835
SPENCEPARK LTD
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04925835
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,337,805 1,337,851
1,337,805 1,337,851
CURRENT ASSETS
Debtors 5 263,353 210,853
Cash at bank and in hand 54,788 46,089
318,141 256,942
Creditors: Amounts Falling Due Within One Year 6 (27,602 ) (84,023 )
NET CURRENT ASSETS (LIABILITIES) 290,539 172,919
TOTAL ASSETS LESS CURRENT LIABILITIES 1,628,344 1,510,770
Creditors: Amounts Falling Due After More Than One Year 7 (1,531,067 ) (1,419,073 )
NET ASSETS 97,277 91,697
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 97,276 91,696
SHAREHOLDERS' FUNDS 97,277 91,697
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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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Hirsch Rottenberg
Director
28th July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
SPENCEPARK LTD is a private company, limited by shares, incorporated in England & Wales, registered number 04925835 . The registered office is 68 Portland Avenue, London, N16 6EA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Nil
Fixtures & Fittings 15% of Net Book Value
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
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4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2022 1,337,547 4,625 1,342,172
As at 31 October 2023 1,337,547 4,625 1,342,172
Depreciation
As at 1 November 2022 - 4,321 4,321
Provided during the period - 46 46
As at 31 October 2023 - 4,367 4,367
Net Book Value
As at 31 October 2023 1,337,547 258 1,337,805
As at 1 November 2022 1,337,547 304 1,337,851
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 263,353 210,853
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 2,492 6,662
Other creditors 24,690 76,461
Accruals and deferred income 420 900
27,602 84,023
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,531,067 1,419,073
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
9. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 5,000 10,000
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10. Ultimate Controlling Party
The company's ultimate controlling party is Mr Hirsch Rottenberg by virtue of his ownership of 100% of the issued share capital in the company.
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