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REGISTERED NUMBER: 13022671 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Spearing & Sons (Bury St Edmunds)
Limited

Spearing & Sons (Bury St Edmunds)
Limited (Registered number: 13022671)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spearing & Sons (Bury St Edmunds)
Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: C F Spearing
M Hayes





REGISTERED OFFICE: Berkeley House
Amery Street
Alton
GU34 1HN





REGISTERED NUMBER: 13022671 (England and Wales)





ACCOUNTANTS: Styles & Associates Limited
Berkeley House
Amery Street
Alton
Hampshire
GU34 1HN

Spearing & Sons (Bury St Edmunds)
Limited (Registered number: 13022671)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,704 31,849

CURRENT ASSETS
Stocks 2,578 2,220
Debtors 5 84,460 49,083
Cash at bank and in hand 25,718 14,274
112,756 65,577
CREDITORS
Amounts falling due within one year 6 99,263 107,710
NET CURRENT ASSETS/(LIABILITIES) 13,493 (42,133 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,197

(10,284

)

PROVISIONS FOR LIABILITIES 6,426 6,051
NET ASSETS/(LIABILITIES) 32,771 (16,335 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 32,671 (16,435 )
SHAREHOLDERS' FUNDS 32,771 (16,335 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Spearing & Sons (Bury St Edmunds)
Limited (Registered number: 13022671)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





C F Spearing - Director


Spearing & Sons (Bury St Edmunds)
Limited (Registered number: 13022671)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Spearing & Sons (Bury St Edmunds) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

Significant judgements and estimates
In preparing the financial statements in accordance with FRS 102, management is required to make judgements, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

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 - 20% on reducing balance

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

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.


Spearing & Sons (Bury St Edmunds)
Limited (Registered number: 13022671)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued
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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2022
and 31 August 2023 42,863
DEPRECIATION
At 1 September 2022 11,014
Charge for year 6,145
At 31 August 2023 17,159
NET BOOK VALUE
At 31 August 2023 25,704
At 31 August 2022 31,849

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 3,600 -
Amounts owed by group undertakings 68,840 36,865
Other debtors 12,020 12,218
84,460 49,083

Spearing & Sons (Bury St Edmunds)
Limited (Registered number: 13022671)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 508 (2,430 )
Amounts owed to group undertakings 11,466 39,488
Taxation and social security 49,176 28,776
Other creditors 38,113 41,876
99,263 107,710

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.23 31.8.22
£    £   
Within one year 45,000 40,000
Between one and five years 87,750 145,200
132,750 185,200

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The controlling party is C F Spearing.