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31/12/2023
2023-12-31
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No description of principal activities is disclosed
2023-01-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
01712961
2023-01-01
2023-12-31
01712961
2023-12-31
01712961
2022-12-31
01712961
2022-01-01
2022-12-31
01712961
2022-12-31
01712961
bus:Director1
2023-01-01
2023-12-31
01712961
core:PlantMachinery
2022-12-31
01712961
core:FurnitureFittingsToolsEquipment
2022-12-31
01712961
core:PlantMachinery
2023-12-31
01712961
core:FurnitureFittingsToolsEquipment
2023-12-31
01712961
core:WithinOneYear
2023-12-31
01712961
core:WithinOneYear
2022-12-31
01712961
core:AfterOneYear
2023-12-31
01712961
core:AfterOneYear
2022-12-31
01712961
core:ShareCapital
2023-12-31
01712961
core:ShareCapital
2022-12-31
01712961
core:RetainedEarningsAccumulatedLosses
2023-12-31
01712961
core:RetainedEarningsAccumulatedLosses
2022-12-31
01712961
core:PlantMachinery
2023-01-01
2023-12-31
01712961
core:FurnitureFittingsToolsEquipment
2023-01-01
2023-12-31
01712961
core:PlantMachinery
2022-12-31
01712961
core:FurnitureFittingsToolsEquipment
2022-12-31
01712961
bus:SmallEntities
2023-01-01
2023-12-31
01712961
bus:AuditExempt-NoAccountantsReport
2023-01-01
2023-12-31
01712961
bus:FullAccounts
2023-01-01
2023-12-31
01712961
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2023-12-31
01712961
bus:PrivateLimitedCompanyLtd
2023-01-01
2023-12-31
Company registration number:
01712961
Spreckley Partners Limited
Unaudited filleted financial statements
31 December 2023
Spreckley Partners Limited
Contents
Statement of financial position
Notes to the financial statements
Spreckley Partners Limited
Statement of financial position
31 December 2023
|
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2023 |
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2022 |
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Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
3,282 |
|
|
|
2,037 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
3,282 |
|
|
|
2,037 |
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|
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|
|
|
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|
|
Current assets |
|
|
|
|
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|
|
|
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Debtors |
|
6 |
387,676 |
|
|
|
353,925 |
|
|
Cash at bank and in hand |
|
|
45,674 |
|
|
|
39,483 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
433,350 |
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|
|
393,408 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
340,860) |
|
|
|
(
257,200) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
92,490 |
|
|
|
136,208 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
95,772 |
|
|
|
138,245 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
8 |
|
|
(
17,500) |
|
|
|
(
27,500) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
78,272 |
|
|
|
110,745 |
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|
|
|
|
_______ |
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|
_______ |
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|
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Capital and reserves |
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|
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|
|
|
|
|
|
Called up share capital |
|
|
|
|
30,000 |
|
|
|
30,000 |
Profit and loss account |
|
|
|
|
48,272 |
|
|
|
80,745 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
78,272 |
|
|
|
110,745 |
|
|
|
|
|
_______ |
|
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|
_______ |
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
06 August 2024
, and are signed on behalf of the board by:
R J Merrin
Director
Company registration number:
01712961
Spreckley Partners Limited
Notes to the financial statements
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor Unicorn House, 221-222 Shoreditch High Street, London, E1 6PJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with FRS 102 “The Financial ReportingStandard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of theCompanies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.The financial statements are prepared in sterling, which is the functional currency of the company.Monetary amounts in these financial statements are rounded to the nearest £.The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the invoiced value of fees, net of Value Added Tax and is all in respect of thecompany's principal activity as a public relations consultancy.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
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|
Plant and machinery |
- |
33 1/3 % per annum
|
|
Fittings fixtures and equipment |
- |
15% to 25% per annum
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|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties
.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Cash at Bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities
Employees Benefit
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is emonstrably committed to terminate the employment of an employee or to provide termination benefits
Retirement Benefit
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed
Foreign Exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
20
(2022:
18
).
5.
Tangible assets
|
|
Plant and machinery |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 January 2023 |
53,802 |
3,570 |
57,372 |
|
|
|
|
|
Additions |
3,128 |
- |
3,128 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 December 2023 |
56,930 |
3,570 |
60,500 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 January 2023 |
51,924 |
3,411 |
55,335 |
|
|
|
|
|
Charge for the year |
1,759 |
124 |
1,883 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 December 2023 |
53,683 |
3,535 |
57,218 |
|
|
|
|
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|
_______ |
_______ |
_______ |
|
|
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|
Carrying amount |
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|
|
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|
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At 31 December 2023 |
3,247 |
35 |
3,282 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
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At 31 December 2022 |
1,878 |
159 |
2,037 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
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|
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6.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
317,103 |
279,298 |
|
Other debtors |
|
70,573 |
74,627 |
|
|
|
_______ |
_______ |
|
|
|
387,676 |
353,925 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
10,000 |
10,000 |
|
Trade creditors |
|
120,709 |
94,905 |
|
Corporation tax |
|
14,472 |
32,205 |
|
Social security and other taxes |
|
150,535 |
76,604 |
|
Other creditors |
|
45,144 |
43,486 |
|
|
|
_______ |
_______ |
|
|
|
340,860 |
257,200 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
17,500 |
27,500 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Related party transactions
At the year end, the company owed the sum of £37,823 ( 2022: £17,836 ) to the director.
10.
Operating leases
At 31 December 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £155,167 (2022 : £253,167).