Registered number
06037161
SPW FLOOR SCREEDING SPECIALISTS LIMITED
Filleted Accounts
31 December 2023
SPW FLOOR SCREEDING SPECIALISTS LIMITED
Registered number: 06037161
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 43,734 71,148
Current assets
Debtors 4 82,905 51,425
Cash at bank and in hand 208,418 359,350
291,323 410,775
Creditors: amounts falling due within one year 5 (128,220) (170,859)
Net current assets 163,103 239,916
Total assets less current liabilities 206,837 311,064
Creditors: amounts falling due after more than one year 6 (15,000) (25,000)
Provisions for liabilities (10,933) (13,518)
Net assets 180,904 272,546
Capital and reserves
Called up share capital 100 100
Profit and loss account 180,804 272,446
Shareholders' funds 180,904 272,546
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Slawomir Woloch
Director
Approved by the board on 12 August 2024
SPW FLOOR SCREEDING SPECIALISTS LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Current and deferred tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 160,824 139,008 299,832
Additions 2,223 - 2,223
At 31 December 2023 163,047 139,008 302,055
Depreciation
At 1 January 2023 130,145 98,539 228,684
Charge for the year 15,762 13,875 29,637
At 31 December 2023 145,907 112,414 258,321
Net book value
At 31 December 2023 17,140 26,594 43,734
At 31 December 2022 30,679 40,469 71,148
4 Debtors 2023 2022
£ £
Trade debtors 40,515 34,507
Other debtors, prepayments, recoverable VAT 42,390 16,918
82,905 51,425
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts - 9,378
Trade creditors 73,449 64,963
Taxation and social security costs 37,531 63,193
Other creditors, directors loans 7,240 23,325
128,220 170,859
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,000 25,000
7 Other information
SPW FLOOR SCREEDING SPECIALISTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Woodside House Woodside
Thornwood
Epping
Essex
CM16 6LF
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