Silverfin false false 30/11/2023 01/12/2022 30/11/2023 Mr D Barden 30/09/2008 Mr A C Postle 05/11/2002 Mrs L Postle 12/09/2008 05 July 2024 The principal activity of the Company during the financial year was the design and supply of yacht rigging. 04582290 2023-11-30 04582290 bus:Director1 2023-11-30 04582290 bus:Director2 2023-11-30 04582290 bus:Director3 2023-11-30 04582290 2022-11-30 04582290 core:CurrentFinancialInstruments 2023-11-30 04582290 core:CurrentFinancialInstruments 2022-11-30 04582290 core:ShareCapital 2023-11-30 04582290 core:ShareCapital 2022-11-30 04582290 core:RetainedEarningsAccumulatedLosses 2023-11-30 04582290 core:RetainedEarningsAccumulatedLosses 2022-11-30 04582290 core:ImmediateParent core:CurrentFinancialInstruments 2023-11-30 04582290 core:ImmediateParent core:CurrentFinancialInstruments 2022-11-30 04582290 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-11-30 04582290 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2022-11-30 04582290 bus:OrdinaryShareClass1 2023-11-30 04582290 bus:OrdinaryShareClass2 2023-11-30 04582290 bus:OrdinaryShareClass3 2023-11-30 04582290 2022-12-01 2023-11-30 04582290 bus:FilletedAccounts 2022-12-01 2023-11-30 04582290 bus:SmallEntities 2022-12-01 2023-11-30 04582290 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 04582290 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04582290 bus:Director1 2022-12-01 2023-11-30 04582290 bus:Director2 2022-12-01 2023-11-30 04582290 bus:Director3 2022-12-01 2023-11-30 04582290 2021-12-01 2022-11-30 04582290 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 04582290 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 04582290 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 04582290 bus:OrdinaryShareClass2 2021-12-01 2022-11-30 04582290 bus:OrdinaryShareClass3 2022-12-01 2023-11-30 04582290 bus:OrdinaryShareClass3 2021-12-01 2022-11-30 04582290 1 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04582290 (England and Wales)

ALLSPARS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

ALLSPARS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

ALLSPARS LIMITED

BALANCE SHEET

As at 30 November 2023
ALLSPARS LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
2023 2022
£ £
Current assets
Stocks 605,000 590,000
Debtors 3 570,414 570,250
Cash at bank and in hand 45,626 115,277
1,221,040 1,275,527
Creditors: amounts falling due within one year 4 ( 547,094) ( 547,346)
Net current assets 673,946 728,181
Total assets less current liabilities 673,946 728,181
Provision for liabilities 353 1,330
Net assets 674,299 729,511
Capital and reserves
Called-up share capital 5 200 200
Profit and loss account 674,099 729,311
Total shareholder's funds 674,299 729,511

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Allspars Limited (registered number: 04582290) were approved and authorised for issue by the Board of Directors on 05 July 2024. They were signed on its behalf by:

Mrs L Postle
Director
ALLSPARS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
ALLSPARS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Allspars Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Tamar Building, Queen Anne's Battery Marina, Plymouth, Devon, PL4 0LP.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 29 27

3. Debtors

2023 2022
£ £
Trade debtors 215,677 219,466
Amounts owed by Parent undertakings 89,410 88,608
Amounts owed by fellow subsidiaries 238,111 239,188
Other debtors 27,216 22,988
570,414 570,250

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 187,673 198,817
Taxation and social security 145,263 106,088
Other creditors 214,158 242,441
547,094 547,346

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
151 Ordinary A shares of £ 1.00 each 151 151
34 Ordinary B shares of £ 1.00 each 34 34
15 Ordinary C shares of £ 1.00 each 15 15
200 200

6. Financial commitments

Commitments

Capital commitments are as follows:

2023 2022
£ £
Contracted for but not provided for:
Finance leases entered into 36,405 15,733

7. Ultimate controlling party

Parent Company:

Allspars (Holdings) Limited
C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP

The ultimate controlling party is the director, Mr A Postle by virtue of his majority shareholding in Allspars (Holdings) Limited.