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REGISTERED NUMBER: 07115851 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

SPECTRSOLUTIONS LIMITED

SPECTRSOLUTIONS LIMITED (REGISTERED NUMBER: 07115851)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPECTRSOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Mr O Kacs





SECRETARY: Ms D Semenova





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 07115851 (England and Wales)





ACCOUNTANTS: MGR SD Limited
55 Loudoun Road
London
NW8 0DL

SPECTRSOLUTIONS LIMITED (REGISTERED NUMBER: 07115851)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 86,497 1,648

CURRENT ASSETS
Debtors 5 3,473 5,350
Cash at bank 321,246 342,975
324,719 348,325
CREDITORS
Amounts falling due within one year 6 (68,425 ) (101,321 )
NET CURRENT ASSETS 256,294 247,004
TOTAL ASSETS LESS CURRENT
LIABILITIES

342,791

248,652

PROVISIONS FOR LIABILITIES 7 (20,395 ) (313 )
NET ASSETS 322,396 248,339

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 322,296 248,239
SHAREHOLDERS' FUNDS 322,396 248,339

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

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

The director acknowledges his 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.

SPECTRSOLUTIONS LIMITED (REGISTERED NUMBER: 07115851)

BALANCE SHEET - continued
31 JANUARY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 August 2024 and were signed by:





Mr O Kacs - Director


SPECTRSOLUTIONS LIMITED (REGISTERED NUMBER: 07115851)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Spectrsolutions 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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SPECTRSOLUTIONS LIMITED (REGISTERED NUMBER: 07115851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 423 - 9,314 9,737
Additions - 109,485 4,196 113,681
At 31 January 2024 423 109,485 13,510 123,418
DEPRECIATION
At 1 February 2023 106 - 7,983 8,089
Charge for year 79 27,371 1,382 28,832
At 31 January 2024 185 27,371 9,365 36,921
NET BOOK VALUE
At 31 January 2024 238 82,114 4,145 86,497
At 31 January 2023 317 - 1,331 1,648

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 3,473 5,350

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 720 22,932
Taxation and social security 34,705 43,185
Other creditors 33,000 35,204
68,425 101,321

7. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax
Accelerated capital allowances 20,395 313

SPECTRSOLUTIONS LIMITED (REGISTERED NUMBER: 07115851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 February 2023 313
Charge to Income Statement during year 20,082
Balance at 31 January 2024 20,395

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100

9. PENSION COMMITMENTS

The company makes payments to a defined contribution scheme on behalf of the director and employee. Amounts charged to the profit and loss account were £4,294 for the year (2023: £3,771). There were no outstanding or prepaid contributions at the balance sheet date.