SPAICE LIMITED

Company Registration Number:
11019414 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 01 November 2022

End date: 31 October 2023

SPAICE LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

SPAICE LIMITED

Company Information

for the Period Ended 31 October 2023




Director: Vipul Arvind Patel
Elaine Anne Gallagher
Registered office: The Mount
72 Paris Street
Exeter
Devon
England
EX1 2JY
Company Registration Number: 11019414 (England and Wales)

SPAICE LIMITED

Directors' Report Period Ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Principal Activities

The principal activity of the company in the period under review was: Developing retail trading and sustainable business consultancy model

Political and charitable donations

There were no donations in this period

Company policy on the employment of disabled persons

Full and fair consideration is given to employment applications from disabled persons having regard to their abilities. If a suitable vacancy isavailable then, where practicable, arrangements will be made to continue the employment of an employee who becomes disabled. Disabledemployees are given fair consideration for training, career development, and promotion. The company takes all reasonable steps to ensure thatemployment conditions are applied regardless of sex, race, colour, ethnic background, religion, or disability.

Additional information

The company adopted a tax policy on the 18th October 2017: We will pay all the taxes we owe in accordance with the spirit of all tax laws that apply to our operations. Business thrives only because society provides the infrastructure and security for us to do so; it is therefore our duty to pay our taxes fully as responsible participants in society. We will seek to pay the fair and correct amount of tax, on time and in the right place by ensuring that we report our tax affairs to reflect where our goods and services are delivered. We will never seek to use tax law or allowances and reliefs in ways that are contrary to the spirit of the law. Nor will we manipulate or create transactions to gain tax advantages otherwise unavailable to us. As a result the company will never undertake transactions that would require notification to HM Revenue & Customs under the Disclosure of Tax Avoidance Schemes Regulations or participate in any arrangement to which it might be reasonable anticipated that the UK’s General Anti-Abuse Rule might apply. We believe tax havens undermine the UK’s tax system. As a result whilst we will trade with customers and suppliers genuinely located in places considered to be tax havens we will not make use of those places to secure a tax advantage, and nor will we take advantage of the secrecy that many such jurisdictions provide for transactions recorded within them. Our accounts will be prepared in compliance with this policy and will seek to provide all information that users, including HM revenue & Customs, might need to properly appraise our tax position.

Directors

The directors shown below have held office during the whole of the period from 01 November 2022 to 31 October 2023
Vipul Arvind Patel
Elaine Anne Gallagher

This report was approved by the board of directors on 31 July 2024
And Signed On Behalf Of The Board By:

Name: Vipul Arvind Patel
Status: Director

SPAICE LIMITED

Profit and Loss Account

for the Period Ended 31 October 2023


Notes

2023
£

2022
£
Turnover 1,524 3,313
Cost of sales ( 451 ) ( 1,237 )
Gross Profit or (Loss) 1,073 2,076
Distribution Costs ( 448 ) ( 449 )
Administrative Expenses ( 32,293 ) ( 25,014 )
Operating Profit or (Loss) ( 31,668 ) ( 23,387 )
Profit or (Loss) Before Tax ( 31,668 ) ( 23,387 )
Profit or (Loss) for Period ( 31,668 ) ( 23,387 )

The notes form part of these financial statements

SPAICE LIMITED

Balance sheet

As at 31 October 2023


Notes

2023
£

2022
£
Fixed assets
Intangible assets: 4 707,214 607,214
Tangible assets: 5 56,408 58,663
Total fixed assets: 763,622 665,877
Current assets
Stocks: 82 82
Debtors: 6 1,106 115
Cash at bank and in hand: 1,610 1,487
Total current assets: 2,798 1,684
Creditors: amounts falling due within one year: 7 ( 50,475 ) ( 50,052 )
Net current assets (liabilities): ( 47,677 ) ( 48,368 )
Total assets less current liabilities: 715,945 617,509
Creditors: amounts falling due after more than one year: 8 ( 63,783 ) ( 33,679 )
Total net assets (liabilities): 652,162 583,830

The notes form part of these financial statements

SPAICE LIMITED

Balance sheet continued

As at 31 October 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 795,700 695,700
Profit and loss account: ( 143,538 ) ( 111,870 )
Shareholders funds: 652,162 583,830

For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

This report was approved by the board of directors on 31 July 2024
And Signed On Behalf Of The Board By:

Name: Vipul Arvind Patel
Status: Director

The notes form part of these financial statements

SPAICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services
    supplied during the period, exclusive of Value Added Tax and trade discounts. The company has not yet started trading.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment
    losses. Cost
    includes costs directly attributable to making the asset capable of operating as intended by management.
    Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over their expected useful lives as follows:
    Fixtures & fittings - 20% on cost,
    Computer Equipment - 20% on cost
    Website - 10% on cost

    Intangible fixed assets amortisation policy

    Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase.
    Costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out
    formula.
    Provision is made for damaged, obsolete and slow-moving stock where appropriate.

    Other accounting policies

    Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

SPAICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 2 2

SPAICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 3. Off balance sheet disclosure

    No

SPAICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Intangible assets

Goodwill Total
Cost £ £
At 01 November 2022 607,214 607,214
Additions 100,000 100,000
Disposals - -
Revaluations - -
Transfers - -
At 31 October 2023 707,214 707,214
Amortisation
Amortisation at 01 November 2022 - -
Charge for year - -
On disposals - -
Other adjustments - -
Amortisation at 31 October 2023 - -
Net book value
Net book value at 31 October 2023 707,214 707,214
Net book value at 31 October 2022 607,214 607,214

SPAICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Tangible assets

Plant & machinery Fixtures & fittings Office equipment Total
Cost £ £ £ £
At 01 November 2022 72,325 1,504 26,175 100,004
Additions 2,848 102 178 3,128
Disposals - - - -
Revaluations - - - -
Transfers - - - -
At 31 October 2023 75,173 1,606 26,353 103,132
Depreciation
At 01 November 2022 28,465 932 11,944 41,341
Charge for year 4,105 94 1,184 5,383
On disposals - - - -
Other adjustments - - - -
At 31 October 2023 32,570 1,026 13,128 46,724
Net book value
At 31 October 2023 42,603 580 13,225 56,408
At 31 October 2022 43,860 572 14,231 58,663

SPAICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

6. Debtors


2023
£

2022
£
Trade debtors 1,106 115
Total 1,106 115

SPAICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

7.Creditors: amounts falling due within one year note


2023
£

2022
£
Bank loans and overdrafts 579
Trade creditors 12,667 8,808
Taxation and social security 34,954 39,580
Accruals and deferred income 2,275 1,664
Total 50,475 50,052

SPAICE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

8.Creditors: amounts falling due after more than one year


2023
£

2022
£
Other creditors 63,783 33,679
Total 63,783 33,679