Company Registration No. 04918271 (England and Wales)
Spec Builders Limited
Unaudited accounts
for the year ended 31 October 2023
Spec Builders Limited
Unaudited accounts
Contents
Spec Builders Limited
Company Information
for the year ended 31 October 2023
Company Number
04918271 (England and Wales)
Registered Office
2-3 Stable Court
Herriard Park
Herriard
Hampshire
RG25 2PL
Accountants
Black & White Chartered Certified Accountants
2-3 Stable Court
Herriard Park
Herriard
Hampshire
RG25 2PL
Spec Builders Limited
Statement of financial position
as at 31 October 2023
Tangible assets
55,709
47,216
Cash at bank and in hand
199,158
227,548
Creditors: amounts falling due within one year
(88,800)
(64,936)
Net current assets
111,896
178,071
Total assets less current liabilities
167,605
225,287
Provisions for liabilities
Deferred tax
(6,161)
(6,161)
Net assets
161,444
219,126
Called up share capital
100
100
Profit and loss account
161,344
219,026
Shareholders' funds
161,444
219,126
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 members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 July 2024 and were signed on its behalf by
M C Sharp
Director
Company Registration No. 04918271
Spec Builders Limited
Notes to the Accounts
for the year ended 31 October 2023
Spec Builders Limited is a private company, limited by shares, registered in England and Wales, registration number 04918271. The registered office is 2-3 Stable Court, Herriard Park, Herriard, Hampshire, RG25 2PL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Computer equipment
33.3% straight line
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 accounts. 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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Spec Builders Limited
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2022
123,981
1,683
125,664
Disposals
(10,000)
-
(10,000)
At 31 October 2023
149,776
1,683
151,459
At 1 November 2022
76,765
1,683
78,448
Charge for the year
17,302
-
17,302
At 31 October 2023
94,067
1,683
95,750
At 31 October 2023
55,709
-
55,709
At 31 October 2022
47,216
-
47,216
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
6,020
9,531
Trade creditors
18,174
1,552
Taxes and social security
341
16,460
Loans from directors
63,005
36,193
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).