2022-12-012023-11-302023-11-30falseNI649175SPECTRUM MACHINE TOOLS 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SPECTRUM MACHINE TOOLS LTD

Registered Number
NI649175
(Northern Ireland)

Unaudited Financial Statements for the Year ended
30 November 2023

SPECTRUM MACHINE TOOLS LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

GUEFFROY, Byron Adam
POOLE, Andrew John

Registered Address

2 Market Place
Carrickfergus
BT38 7AW

Registered Number

NI649175 (Northern Ireland)
SPECTRUM MACHINE TOOLS LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets24,25632,697
24,25632,697
Current assets
Debtors241,939263,855
Cash at bank and on hand24,36349,848
266,302313,703
Creditors amounts falling due within one year(228,980)(284,987)
Net current assets (liabilities)37,32228,716
Total assets less current liabilities61,57861,413
Creditors amounts falling due after one year(23,923)(36,329)
Provisions for liabilities(4,609)(6,212)
Net assets33,04618,872
Capital and reserves
Called up share capital192,203192,203
Profit and loss account(159,157)(173,331)
Shareholders' funds33,04618,872
The financial statements were approved and authorised for issue by the Board of Directors on 21 August 2024, and are signed on its behalf by:
GUEFFROY, Byron Adam
Director
Registered Company No. NI649175
SPECTRUM MACHINE TOOLS LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.Average number of employees

20232022
Average number of employees during the year00