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Company registration number:
11747851
Specs 4 You Ltd
Trading as
Specs 4 You Ltd
Unaudited abridged financial statements
31 December 2023
Specs 4 You Ltd
Contents
Directors and other information
Directors report
Accountants report
Abridged statement of comprehensive income
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Specs 4 You Ltd
Directors and other information
|
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Directors |
Mr M P J Craft |
|
|
Dr M H Sheikh Craft |
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Company number |
11747851 |
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Registered office |
9 Grange Road West |
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|
Jarrow |
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Tyne and WeaR |
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NE32 3JA |
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Business address |
9 Grange Road West |
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Jarrow |
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Tyne and Wear |
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NE32 3JA |
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Accountants |
James Mc Mahon & Co |
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35 Castor Bay Road |
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Lurgan |
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BT67 9LE |
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|
Specs 4 You Ltd
Directors report
Year ended 31 December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023.
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial year. It is anticipated that the company will remain dormant for the foreseeable future.
Directors
The directors who served the company during the year were as follows:
|
Mr M P J Craft |
Dr M H Sheikh Craft |
|
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
14 September 2024
and signed on behalf of the board by:
Mr M P J Craft
Director
Specs 4 You Ltd
Certified public accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Specs 4 You Ltd
Year ended 31 December 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2023 which comprise the abridged statement of comprehensive income, abridged statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
James Mc Mahon & Co
Certified Public Accountants
35 Castor Bay Road
Lurgan
BT67 9LE
14 September 2024
Specs 4 You Ltd
Abridged statement of comprehensive income
Year ended 31 December 2023
|
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2023 |
2022 |
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|
Note |
£ |
£ |
|
|
|
|
|
|
|
Other operating expenses |
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|
1 |
|
434 |
|
|
|
_______ |
|
_______ |
Operating profit |
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|
1 |
|
434 |
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|
|
|
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Interest payable and similar expenses |
|
|
- |
|
(
457) |
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|
_______ |
|
_______ |
Profit/(loss) before taxation |
|
|
1 |
|
(
23) |
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|
Tax on profit/(loss) |
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|
1,383 |
|
- |
|
|
|
_______ |
|
_______ |
Profit/(loss) for the financial year and total comprehensive income |
|
|
1,384 |
|
(
23) |
|
|
|
_______ |
|
_______ |
|
|
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|
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|
No significant accounting transactions as defined by section 1169 of the Companies Act 2006 occurred in the current year or prior year.
All the activities of the company are from continuing operations.
Specs 4 You Ltd
Abridged statement of financial position
31 December 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
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|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
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Current assets |
|
|
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Debtors |
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11,620 |
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10,236 |
|
|
|
|
|
_______ |
|
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|
_______ |
|
|
|
|
|
11,620 |
|
|
|
10,236 |
|
|
Creditors: amounts falling due |
|
|
|
|
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|
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|
within one year |
|
|
(
7,164) |
|
|
|
(
7,164) |
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|
|
|
|
_______ |
|
|
|
_______ |
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|
Net current assets |
|
|
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4,456 |
|
|
|
3,072 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
4,456 |
|
|
|
3,072 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
4,456 |
|
|
|
3,072 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
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|
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Capital and reserves |
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|
|
|
|
|
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|
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Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
4,356 |
|
|
|
2,972 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
4,456 |
|
|
|
3,072 |
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|
|
|
|
_______ |
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|
_______ |
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
14 September 2024
, and are signed on behalf of the board by:
Mr M P J Craft
Director
Company registration number:
11747851
Specs 4 You Ltd
Statement of changes in equity
Year ended 31 December 2023
|
|
Called up share capital |
|
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 January 2022 |
|
100 |
|
2,995 |
3,095 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year |
|
|
|
(
23) |
(
23) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
(
23) |
(
23) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 December 2022 and 1 January 2023 |
|
100 |
|
2,972 |
3,072 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year |
|
|
|
1,384 |
1,384 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
1,384 |
1,384 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
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|
At 31 December 2023 |
|
100 |
|
4,356 |
4,456 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
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Specs 4 You Ltd
Notes to the financial statements
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in Enagland. The address of the registered office is Specs 4 You Ltd, 9 Grange Road West, Jarrow, Tyne and WeaR, NE32 3JA.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
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.
Income statement policy
The company is dormant as defined by section 1169 of the Companies Act 2006. The company incurred no significant transactions during the current year or prior year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.