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Registered Number: 06549228
England and Wales

 

 

 

SPITFIRE ENGINEERING DESIGNS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Directors Gary Suffling
Patricia Suffling
Registered Number 06549228
Registered Office 19 Westminster Crescent
Burn Bridge
Harrogate
North Yorkshire
HG3 1LX
Accountants Best Accountancy Services Ltd
Harrogate Business Centre, Hammerain House
Hookstone Avenue
Harrogate
North Yorkshire
HG2 8ER
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,417    1,191 
1,417    1,191 
Current assets      
Stocks 4 19,400    18,500 
Debtors 5 10,325    13,110 
Cash at bank and in hand 1,460    1,296 
31,185    32,906 
Creditors: amount falling due within one year 6 (9,253)   (17,096)
Net current assets 21,932    15,810 
 
Total assets less current liabilities 23,349    17,001 
Creditors: amount falling due after more than one year 7 (8,584)   (10,160)
Net assets 14,765    6,841 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 14,665    6,741 
Shareholders' funds 14,765    6,841 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 13 September 2024 and were signed on its behalf by:


-------------------------------
Gary Suffling
Director
2
General Information
Spitfire Engineering Designs Limited is a private company, limited by shares, registered in England and Wales, registration number 06549228, registration address 19 Westminster Crescent, Burn Bridge, Harrogate, North Yorkshire, HG3 1LX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 June 2023 6,429    6,429 
Additions 992    992 
Disposals  
At 31 May 2024 7,421    7,421 
Depreciation
At 01 June 2023 5,238    5,238 
Charge for year 766    766 
On disposals  
At 31 May 2024 6,004    6,004 
Net book values
Closing balance as at 31 May 2024 1,417    1,417 
Opening balance as at 01 June 2023 1,191    1,191 


4.

Stocks

2024
£
  2023
£
Stocks 19,400    18,500 
19,400    18,500 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 689    2,724 
Other Debtors 9,636    10,386 
10,325    13,110 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 769    771 
Bank Loans & Overdrafts 1,611    1,611 
Taxation and Social Security 2,040    1,259 
Other Creditors 4,833    13,455 
9,253    17,096 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 8,584    10,160 
8,584    10,160 

8.

Advances and Credits



G & T Suffling
During the year ended 31st May 2024, the Company repaid £17,100 of the loan to the Directors, and the Directors advanced a further £8,478 to the Company. The loans are interest free and repayable on demand.

Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
G & T Suffling12,705 8,478 17,100 4,083 
127058478017100004083
Previous year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
G & T Suffling11,454 21,486 20,235 12,705 
11454214860202350012705
3