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Registered number: 09317278
Spartan Performance Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09317278
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 85,934 102,593
85,934 102,593
CURRENT ASSETS
Stocks 5 4,803 -
Debtors 6 2,231 868
Cash at bank and in hand 7,252 34,025
14,286 34,893
Creditors: Amounts Falling Due Within One Year 7 (99,834 ) (93,634 )
NET CURRENT ASSETS (LIABILITIES) (85,548 ) (58,741 )
TOTAL ASSETS LESS CURRENT LIABILITIES 386 43,852
Creditors: Amounts Falling Due After More Than One Year 8 (25,522 ) (35,371 )
NET (LIABILITIES)/ASSETS (25,136 ) 8,481
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (25,236 ) 8,381
SHAREHOLDERS' FUNDS (25,136) 8,481
Page 1
Page 2
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 Jack Lovett
Director
31/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Spartan Performance Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09317278 . The registered office is Unit 14a Number 1 Industrial Estate, Consett, County Durham, DH8 6SX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 3)
2 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2022 135,161 55,418 16,134 206,713
Additions 5,854 - 208 6,062
As at 31 October 2023 141,015 55,418 16,342 212,775
Depreciation
As at 1 November 2022 68,987 27,493 7,640 104,120
Provided during the period 14,017 6,981 1,723 22,721
As at 31 October 2023 83,004 34,474 9,363 126,841
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 October 2023 58,011 20,944 6,979 85,934
As at 1 November 2022 66,174 27,925 8,494 102,593
5. Stocks
2023 2022
£ £
Stock 4,803 -
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 2,231 868
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 10,331 435
Bank loans and overdrafts 8,286 8,286
Other creditors 78,197 81,123
Taxation and social security 3,020 3,790
99,834 93,634
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 25,522 35,371
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4