Registered number
03479737
SPENSERVE LIMITED
Filleted Accounts
31 December 2023
SPENSERVE LIMITED
Registered number: 03479737
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 418,090 367,590
Current assets
Debtors 4 5,562 5,562
Cash at bank and in hand 104,710 147,337
110,272 152,899
Creditors: amounts falling due within one year 5 (17,367) (20,885)
Net current assets 92,905 132,014
Total assets less current liabilities 510,995 499,604
Creditors: amounts falling due after more than one year 6 (161,049) (161,049)
Net assets 349,946 338,555
Capital and reserves
Called up share capital 2 2
Profit and loss account 349,944 338,553
Shareholders' funds 349,946 338,555
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.
Rajay Vadher
Director
Approved by the board on 23 September 2024
SPENSERVE 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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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 initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2023 367,590
Additions 50,500
At 31 December 2023 418,090
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 418,090
At 31 December 2022 367,590
4 Debtors 2023 2022
£ £
Trade debtors 4,960 4,960
Other debtors 602 602
5,562 5,562
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 750 750
Taxation and social security costs 9,124 12,053
Other creditors 7,493 8,082
17,367 20,885
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 161,049 161,049
7 Other information
SPENSERVE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
32 Mount Pleasant Road
Chigwell
Essex
IG7 5ER
SPENSERVE LIMITED 03479737 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Rajay Vadher No description of principal activity 03479737 2022-01-01 2022-12-31 03479737 core:WithinOneYear 2022-12-31 03479737 core:AfterOneYear 2022-12-31 03479737 core:ShareCapital 2022-12-31 03479737 core:RetainedEarningsAccumulatedLosses 2022-12-31 03479737 2023-01-01 2023-12-31 03479737 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03479737 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03479737 bus:Director40 2023-01-01 2023-12-31 03479737 1 2023-01-01 2023-12-31 03479737 2 2023-01-01 2023-12-31 03479737 core:LandBuildings 2023-01-01 2023-12-31 03479737 countries:England 2023-01-01 2023-12-31 03479737 bus:FRS102 2023-01-01 2023-12-31 03479737 bus:FilletedAccounts 2023-01-01 2023-12-31 03479737 2023-12-31 03479737 core:WithinOneYear 2023-12-31 03479737 core:AfterOneYear 2023-12-31 03479737 core:ShareCapital 2023-12-31 03479737 core:RetainedEarningsAccumulatedLosses 2023-12-31 03479737 core:LandBuildings 2023-12-31 03479737 2022-12-31 03479737 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure