Registered number
08283709
SPA Furnishings Ltd
Filleted Accounts
31 October 2023
SPA Furnishings Ltd
Registered number: 08283709
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,352 10,071
Current assets
Stocks 257,033 270,575
Debtors 4 95,000 95,000
Cash at bank and in hand 134,108 162,818
486,141 528,393
Creditors: amounts falling due within one year 5 (304,609) (364,034)
Net current assets 181,532 164,359
Total assets less current liabilities 194,884 174,430
Creditors: amounts falling due after more than one year 6 (32,825) (39,240)
Net assets 162,059 135,190
Capital and reserves
Called up share capital 1 1
Profit and loss account 162,058 135,189
Shareholder's funds 162,059 135,190
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Vchtar Shergill
Director
Approved by the board on 30 July 2024
SPA Furnishings Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% Reducing balance
Fixtures, fittings, tools and equipment 20% Reducing balance
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 3,502 18,950 22,452
Additions - 7,686 7,686
At 31 October 2023 3,502 26,636 30,138
Depreciation
At 1 November 2022 2,835 9,546 12,381
Charge for the year 133 4,272 4,405
At 31 October 2023 2,968 13,818 16,786
Net book value
At 31 October 2023 534 12,818 13,352
At 31 October 2022 667 9,404 10,071
4 Debtors 2023 2022
£ £
Other debtors 95,000 95,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 112,051 145,685
Director loan 171,523 167,631
Taxation and social security costs 19,847 48,730
Net wages 1,188 1,988
304,609 364,034
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 32,825 39,240
7 Other information
SPA Furnishings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
45 High Street
Droitwich
WR9 8EJ
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