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REGISTERED NUMBER: 07766400 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Spectral Creative Limited

Spectral Creative Limited (Registered number: 07766400)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spectral Creative Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs G L Glen
L A Glen





REGISTERED OFFICE: Unit 43
Murrell Green Business Park
London Road
Hook
Hampshire
RG27 9GR





REGISTERED NUMBER: 07766400 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Spectral Creative Limited (Registered number: 07766400)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,489 367

CURRENT ASSETS
Debtors 5 8,036 5,863
Cash at bank 160,521 139,644
168,557 145,507
CREDITORS
Amounts falling due within one year 6 23,611 12,861
NET CURRENT ASSETS 144,946 132,646
TOTAL ASSETS LESS CURRENT
LIABILITIES

147,435

133,013

PROVISIONS FOR LIABILITIES 7 473 70
NET ASSETS 146,962 132,943

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 146,960 132,941
SHAREHOLDERS' FUNDS 146,962 132,943

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Spectral Creative Limited (Registered number: 07766400)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:





L A Glen - Director


Spectral Creative Limited (Registered number: 07766400)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Spectral Creative Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Spectral Creative Limited (Registered number: 07766400)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 733 2,890 1,916 5,539
Additions - - 3,457 3,457
At 31 March 2024 733 2,890 5,373 8,996
DEPRECIATION
At 1 April 2023 366 2,890 1,916 5,172
Charge for year 183 - 1,152 1,335
At 31 March 2024 549 2,890 3,068 6,507
NET BOOK VALUE
At 31 March 2024 184 - 2,305 2,489
At 31 March 2023 367 - - 367

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 6,919 4,792
Other debtors 1,117 1,071
8,036 5,863

Spectral Creative Limited (Registered number: 07766400)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 2,672 2,293
Taxation and social security 16,112 8,330
Other creditors 4,827 2,238
23,611 12,861

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 473 70

Deferred
tax
£   
Balance at 1 April 2023 70
Accelerated capital allowances 403
Balance at 31 March 2024 473

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2