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Company Registration No. 08261774 (England and Wales)
Spencer Wix Stone Mason Ltd Unaudited accounts for the year ended 31 October 2023
Spencer Wix Stone Mason Ltd Unaudited accounts Contents
Page
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Spencer Wix Stone Mason Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
31,947 
6,939 
Current assets
Inventories
2,200 
2,445 
Debtors
9,148 
13,042 
Cash at bank and in hand
148,057 
140,477 
159,405 
155,964 
Creditors: amounts falling due within one year
(82,746)
(92,681)
Net current assets
76,659 
63,283 
Total assets less current liabilities
108,606 
70,222 
Creditors: amounts falling due after more than one year
(6,334)
(10,334)
Provisions for liabilities
Deferred tax
(6,621)
(889)
Net assets
95,651 
58,999 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
95,641 
58,989 
Shareholders' funds
95,651 
58,999 
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 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 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 of Directors and authorised for issue on 17 July 2024 and were signed on its behalf by
S T Wix Director Company Registration No. 08261774
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Spencer Wix Stone Mason Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Spencer Wix Stone Mason Ltd is a private company, limited by shares, registered in England and Wales, registration number 08261774. The registered office is UNIT 2 RENDLESHAM MEWS, RENDLESHAM, WOODBRIDGE, SUFFOLK, IP12 2SZ.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Stocks
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 items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
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Spencer Wix Stone Mason Ltd Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
4,900 
22,742 
27,642 
Additions
28,890 
1,400 
30,290 
At 31 October 2023
33,790 
24,142 
57,932 
Depreciation
At 1 November 2022
4,532 
16,171 
20,703 
Charge for the year
2,860 
2,422 
5,282 
At 31 October 2023
7,392 
18,593 
25,985 
Net book value
At 31 October 2023
26,398 
5,549 
31,947 
At 31 October 2022
368 
6,571 
6,939 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,979 
12,628 
Accrued income and prepayments
101 
414 
Other debtors
68 
- 
9,148 
13,042 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
4,000 
4,000 
VAT
10,501 
7,138 
Trade creditors
10,718 
18,960 
Taxes and social security
15,962 
18,555 
Other creditors
41,508 
43,853 
Loans from directors
57 
175 
82,746 
92,681 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
6,334 
10,334 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
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Spencer Wix Stone Mason Ltd Notes to the Accounts for the year ended 31 October 2023
9
Controlling party
The company is under the control of the director Mr S T Wix who has control of 100% of the share capital.
10
Average number of employees
During the year the average number of employees was 4 (2022: 3).
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