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Registered number: 09068384
Spoke And Stringer Limited
Unaudited Financial Statements
For the Period 1 July 2023 to 31 May 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 09068384
31 May 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 62,217 28,939
62,217 28,939
CURRENT ASSETS
Stocks 5 - 17,500
Debtors 6 200,784 159,233
Cash at bank and in hand 433 36,909
201,217 213,642
Creditors: Amounts Falling Due Within One Year 7 (315,967 ) (181,573 )
NET CURRENT ASSETS (LIABILITIES) (114,750 ) 32,069
TOTAL ASSETS LESS CURRENT LIABILITIES (52,533 ) 61,008
Creditors: Amounts Falling Due After More Than One Year 8 (512,793 ) (553,079 )
NET LIABILITIES (565,326 ) (492,071 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement (565,426 ) (492,171 )
SHAREHOLDERS' FUNDS (565,326) (492,071)
Page 1
Page 2
For the period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
K Crews
Director
11 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Spoke And Stringer Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09068384 . The registered office is 12 Whiting Way, Wrington, Somerset, BS40 5AS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Presentation currency
The accounts are presented in £ sterling.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 14% straight line
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL (2023: )
- -
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 July 2023 18,000 12,630 24,915 15,263
Additions - - 55,495 -
Disposals - - (17,415 ) -
As at 31 May 2024 18,000 12,630 62,995 15,263
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 July 2023 2,571 12,067 18,895 10,966
Provided during the period 2,358 151 8,989 3,498
Disposals - - (11,395 ) -
As at 31 May 2024 4,929 12,218 16,489 14,464
Net Book Value
As at 31 May 2024 13,071 412 46,506 799
As at 1 July 2023 15,429 563 6,020 4,297
Computer Equipment Total
£ £
Cost
As at 1 July 2023 5,242 76,050
Additions - 55,495
Disposals - (17,415 )
As at 31 May 2024 5,242 114,130
Depreciation
As at 1 July 2023 2,612 47,111
Provided during the period 1,201 16,197
Disposals - (11,395 )
As at 31 May 2024 3,813 51,913
Net Book Value
As at 31 May 2024 1,429 62,217
As at 1 July 2023 2,630 28,939
5. Stocks
31 May 2024 30 June 2023
£ £
Stock - 17,500
6. Debtors
31 May 2024 30 June 2023
£ £
Due within one year
Trade debtors - 7,105
Other debtors 200,784 152,128
200,784 159,233
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Page 5
7. Creditors: Amounts Falling Due Within One Year
31 May 2024 30 June 2023
£ £
Trade creditors - 41,603
Bank loans and overdrafts 27,448 -
Other creditors 286,458 132,475
Taxation and social security 2,061 7,495
315,967 181,573
8. Creditors: Amounts Falling Due After More Than One Year
31 May 2024 30 June 2023
£ £
Other creditors 512,793 553,079
9. Share Capital
31 May 2024 30 June 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
At the year end, the company was owed £185,625 (2023: £111,865) by entities under common control. The loans are interest free and have no fixed date for
repayment.
At the year end, the company owed £142,312 (2023: £0) to entities under common control. The loans are interest free and have no fixed date for repayment.
Page 5