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REGISTERED NUMBER: 04111347 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

SP Computers (Swindon) Limited

SP Computers (Swindon) Limited (Registered number: 04111347)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SP Computers (Swindon) Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: S G Perrin





SECRETARY: Mrs S Perrin





REGISTERED OFFICE: Unit 109, Rivermead Business Park
Rivermead Drive
Westlea
Swindon
Wiltshire
SN5 7EX





REGISTERED NUMBER: 04111347 (England and Wales)

SP Computers (Swindon) Limited (Registered number: 04111347)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,922 12,975

CURRENT ASSETS
Stocks 3,000 12,250
Debtors 5 80,253 58,268
Cash in hand 1,695 1,104
84,948 71,622
CREDITORS
Amounts falling due within one year 6 90,988 94,195
NET CURRENT LIABILITIES (6,040 ) (22,573 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,882

(9,598

)

CREDITORS
Amounts falling due after more than one year 7 (15,000 ) (25,000 )

PROVISIONS FOR LIABILITIES (2,731 ) (2,856 )
NET LIABILITIES (12,849 ) (37,454 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (12,850 ) (37,455 )
SHAREHOLDERS' FUNDS (12,849 ) (37,454 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

SP Computers (Swindon) Limited (Registered number: 04111347)

Balance Sheet - continued
30 November 2023


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 director and authorised for issue on 29 August 2024 and were signed by:





S G Perrin - Director


SP Computers (Swindon) Limited (Registered number: 04111347)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

SP Computers (Swindon) 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
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

The Company recognises revenue when the following conditions are satisfied:
i. the Company has transferred to the buyer the significant risks and rewards of ownership of the goods;
ii. the Company retains neither continuing managerial involvement to the degree associated with ownership nor effective control over the goods sold;
iii. the amount of revenue can be measured reliably;
iv. it is probable that the economic benefits associated with the transaction can be measured reliably.

Sale of goods and services
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customer in advance of services provided the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation and residual values
Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life as follows:

Fixtures and fittings - 15% Reducing Balance
Computer equipment - 15% Reducing Balance
Motor vehicles - 25% Reducing Balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


SP Computers (Swindon) Limited (Registered number: 04111347)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amount expected to be paid to the tax authorities.

Deferred tax
Deferred tax arises from timing differences that are differences between taxable profit and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessment in periods different from those in which are recognised in financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when 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 tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and are depreciated over their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Assets acquired under instalment finance agreements are treated as tangible fixed assets and depreciation is provided accordingly. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the length of the contract.

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.

Going concern
The accounts have been prepared on the Going concern basis, assuming the continued support of the company's bankers and creditors. If such support were not forthcoming, the accounts may need to be re-stated on a break-up basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

SP Computers (Swindon) Limited (Registered number: 04111347)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 21,522 21,695 11,704 54,921
Additions - - 779 779
At 30 November 2023 21,522 21,695 12,483 55,700
DEPRECIATION
At 1 December 2022 17,264 13,827 10,855 41,946
Charge for year 589 1,967 276 2,832
At 30 November 2023 17,853 15,794 11,131 44,778
NET BOOK VALUE
At 30 November 2023 3,669 5,901 1,352 10,922
At 30 November 2022 4,258 7,868 849 12,975

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,149 8,417
Other debtors 3,000 -
Directors' current accounts 70,204 47,091
Prepayments and accrued income 1,900 2,760
80,253 58,268

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 20,926 29,092
Trade creditors 42,666 27,053
Corporation tax 15,532 27,581
Social security and other taxes 824 732
VAT 8,713 9,021
Other creditors 252 249
Accruals and deferred income 2,075 467
90,988 94,195

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,000 15,000
15,000 25,000

SP Computers (Swindon) Limited (Registered number: 04111347)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
S G Perrin
Balance outstanding at start of year 47,090 47,090
Amounts advanced 23,113 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 70,203 47,090