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REGISTERED NUMBER: 07634591 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SPECTRUM DIRECT LIMITED

SPECTRUM DIRECT LIMITED (REGISTERED NUMBER: 07634591)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


SPECTRUM DIRECT LIMITED (REGISTERED NUMBER: 07634591)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 255,822 306,894

CURRENT ASSETS
Stocks 2,943 2,733
Debtors 5 183,542 190,983
Cash at bank 77,541 118,345
264,026 312,061
CREDITORS
Amounts falling due within one year 6 172,399 193,612
NET CURRENT ASSETS 91,627 118,449
TOTAL ASSETS LESS CURRENT
LIABILITIES

347,449

425,343

CREDITORS
Amounts falling due after more than one
year

7

(14,167

)

(80,894

)

PROVISIONS FOR LIABILITIES (63,956 ) (58,310 )
NET ASSETS 269,326 286,139

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 269,276 286,089
SHAREHOLDERS' FUNDS 269,326 286,139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SPECTRUM DIRECT LIMITED (REGISTERED NUMBER: 07634591)

BALANCE SHEET - continued
31 DECEMBER 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2024 and were signed on its behalf by:





W Edmonds - Director


SPECTRUM DIRECT LIMITED (REGISTERED NUMBER: 07634591)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Spectrum Direct Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07634591

Registered office: 3 Hendham Vale Industrial Park
Vale Park Way
Manchester
M8 0AD

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, and is recognised when the company considers it has obtained the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

SPECTRUM DIRECT LIMITED (REGISTERED NUMBER: 07634591)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2023 501,309 26,556 527,865
Additions - 2,095 2,095
At 31 December 2023 501,309 28,651 529,960
DEPRECIATION
At 1 January 2023 203,115 17,856 220,971
Charge for year 50,131 3,036 53,167
At 31 December 2023 253,246 20,892 274,138
NET BOOK VALUE
At 31 December 2023 248,063 7,759 255,822
At 31 December 2022 298,194 8,700 306,894

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 139,502 155,777
Other debtors 44,040 35,206
183,542 190,983

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 57,012 74,471
Trade creditors 70,803 77,141
Taxation and social security 24,264 19,216
Other creditors 10,320 12,784
172,399 193,612

SPECTRUM DIRECT LIMITED (REGISTERED NUMBER: 07634591)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,167 25,000
Hire purchase contracts (see note 8) - 55,894
14,167 80,894

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 57,012 74,471
Between one and five years - 55,894
57,012 130,365

Non-cancellable operating leases
2023 2022
£    £   
Within one year 37,223 42,755
Between one and five years 27,917 64,871
65,140 107,626

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 57,012 130,365