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01/04/2023
31/03/2024
2024-03-31
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No description of principal activities is disclosed
2023-04-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
02074059
2023-04-01
2024-03-31
02074059
2024-03-31
02074059
2023-03-31
02074059
2022-04-01
2023-03-31
02074059
2023-03-31
02074059
2022-03-31
02074059
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2023-04-01
2024-03-31
02074059
core:FurnitureFittingsToolsEquipment
2023-04-01
2024-03-31
02074059
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2023-04-01
2024-03-31
02074059
bus:LeadAgentIfApplicable
2023-04-01
2024-03-31
02074059
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2023-04-01
2024-03-31
02074059
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2023-04-01
2024-03-31
02074059
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2024-03-31
02074059
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core:OwnedOrFreeholdAssets
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02074059
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2024-03-31
02074059
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2022-04-01
2023-03-31
02074059
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2023-04-01
2024-03-31
02074059
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2024-03-31
02074059
core:WithinOneYear
2023-03-31
02074059
core:UKTax
2023-04-01
2024-03-31
02074059
core:UKTax
2022-04-01
2023-03-31
02074059
core:ShareCapital
2024-03-31
02074059
core:ShareCapital
2023-03-31
02074059
core:RetainedEarningsAccumulatedLosses
2024-03-31
02074059
core:RetainedEarningsAccumulatedLosses
2023-03-31
02074059
core:ShareCapital
2022-03-31
02074059
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2022-03-31
02074059
core:PreviouslyStatedAmount
core:ShareCapital
2024-03-31
02074059
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-03-31
02074059
core:FurnitureFittingsToolsEquipment
2023-03-31
02074059
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2023-03-31
02074059
bus:Director1
2024-03-31
02074059
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2023-03-31
02074059
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2024-03-31
02074059
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2022-03-31
02074059
bus:Director1
2023-03-31
02074059
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2022-03-31
02074059
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2023-03-31
02074059
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2023-03-31
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2023-03-31
02074059
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2023-04-01
2024-03-31
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2024-03-31
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2023-04-01
2024-03-31
Company registration number:
02074059
Michael Spracklen Limited
Unaudited financial statements
31 March 2024
Michael Spracklen Limited
Contents
Directors and other information
Directors report
Accountants report
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Michael Spracklen Limited
Directors and other information
|
|
|
|
Directors |
Mr Michael Spracklen |
|
|
Mrs Ann Spracklen |
|
|
|
|
|
|
|
Secretary |
Michael Spracklen |
|
|
|
|
|
|
|
Company number |
02074059 |
|
|
|
|
|
|
|
Registered office |
Pergola |
|
|
Gossmore Close |
|
|
Marlow |
|
|
Bucks |
|
|
SL7 1QG |
|
|
|
|
|
|
|
Accountants |
Pink Affinity Limited |
|
|
|
Michael Spracklen Limited
Directors report
Year ended 31 March 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2024.
Directors
The directors who served the company during the year were as follows:
|
Mr Michael Spracklen |
Mrs Ann Spracklen |
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
02 July 2024
and signed on behalf of the board by:
Mr Michael Spracklen
Director
Michael Spracklen Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Michael Spracklen Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Michael Spracklen Limited for the year ended 31 March 2024 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Michael Spracklen Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Michael Spracklen Limited and state those matters that we have agreed to state to the board of directors of Michael Spracklen Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Michael Spracklen Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Michael Spracklen Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Michael Spracklen Limited. You consider that Michael Spracklen Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Michael Spracklen Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Pink Affinity Limited
2 July 2024
Michael Spracklen Limited
Statement of comprehensive income
Year ended 31 March 2024
|
|
|
|
2024 |
|
2023 |
|
|
|
|
Note |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Turnover |
|
|
|
66,096 |
|
72,166 |
|
|
Cost of sales |
|
|
|
(
600) |
|
(
4,159) |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
Gross profit |
|
|
|
65,496 |
|
68,007 |
|
|
|
|
|
|
|
|
|
|
|
Administrative expenses |
|
|
|
(
55,353) |
|
(
28,059) |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
Operating profit |
|
|
|
10,143 |
|
39,948 |
|
|
|
|
|
|
|
|
|
|
|
Profit before taxation |
|
|
|
10,143 |
|
39,948 |
|
|
|
|
|
|
|
|
|
|
|
Tax on profit |
|
4 |
|
(
1,927) |
|
(
7,590) |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
Profit for the financial year and total comprehensive income |
|
|
|
8,216 |
|
32,358 |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
All the activities of the company are from continuing operations.
Michael Spracklen Limited
Statement of financial position
31 March 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
420,045 |
|
|
|
420,045 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
420,045 |
|
|
|
420,045 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Cash at bank and in hand |
|
|
11,847 |
|
|
|
32,509 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
11,847 |
|
|
|
32,509 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
6 |
(
8,017) |
|
|
|
(
19,895) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
3,830 |
|
|
|
12,614 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
423,875 |
|
|
|
432,659 |
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income |
|
|
|
|
(
1,350) |
|
|
|
(
1,350) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
422,525 |
|
|
|
431,309 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
322,768 |
|
|
|
322,768 |
Profit and loss account |
|
|
|
|
99,757 |
|
|
|
108,541 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
422,525 |
|
|
|
431,309 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2024 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 in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 105 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the
board of directors
and authorised for issue on
02 July 2024
, and are signed on behalf of the board by:
Mr Michael Spracklen
Director
Company registration number:
02074059
Michael Spracklen Limited
Statement of changes in equity
Year ended 31 March 2024
|
|
Called up share capital |
|
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 April 2022 |
|
322,768 |
|
100,183 |
422,951 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
32,358 |
32,358 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
32,358 |
32,358 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
(
24,000) |
(
24,000) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total investments by and distributions to owners |
|
- |
|
(
24,000) |
(
24,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 and 1 April 2023 |
|
322,768 |
|
108,541 |
431,309 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
8,216 |
8,216 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
8,216 |
8,216 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
(
17,000) |
(
17,000) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total investments by and distributions to owners |
|
- |
|
(
17,000) |
(
17,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2024 |
|
322,768 |
|
99,757 |
422,525 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michael Spracklen Limited
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Pergola, Gossmore Close, Marlow, Bucks, SL7 1QG.
2.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation, if material is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Freehold property |
- |
not material |
|
|
Plant and machinery |
- |
15 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
15 % |
reducing balance |
|
|
|
|
|
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
4.
Tax on profit
Major components of tax expense
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Current tax: |
|
|
|
|
UK current tax expense |
|
1,927 |
7,590 |
|
|
|
_______ |
_______ |
|
Tax on profit |
|
1,927 |
7,590 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Reconciliation of tax expense
The tax assessed on the profit for the year is the same as (2023: the same as) the
standard rate of corporation tax in the UK
of
19.00
% (2023: 19.00%).
Profit multiplied by rate of tax
1,927
7,590
_______
|
_______
|
5.
Tangible assets
|
|
Freehold property |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2023 and 31 March 2024 |
420,044 |
23,677 |
443,721 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2023 and 31 March 2024 |
- |
23,676 |
23,676 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2024 |
420,044 |
1 |
420,045 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
420,044 |
1 |
420,045 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Corporation tax |
|
1,915 |
7,590 |
|
Other creditors |
|
6,102 |
12,305 |
|
|
|
_______ |
_______ |
|
|
|
8,017 |
19,895 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr Michael Spracklen |
(
397) |
307 |
(
90) |
|
|
|
|
Mrs Ann Spracklen |
(
6,358) |
5,896 |
(
462) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
(
6,755) |
6,203 |
(
552) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr Michael Spracklen |
(
1,261) |
864 |
(
397) |
|
|
|
|
Mrs Ann Spracklen |
(
7,461) |
1,103 |
(
6,358) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
(
8,722) |
1,967 |
(
6,755) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|