Company Registration No. 1113961 (England and Wales)
Speedwell Cavern Limited
Unaudited accounts
for the year ended 31 January 2024
Speedwell Cavern Limited
Unaudited accounts
Contents
Speedwell Cavern Limited
Company Information
for the year ended 31 January 2024
Directors
J D Harrison
J H Harrison
J H Gosling
Company Number
1113961 (England and Wales)
Registered Office
Speedwell Cavern
Castleton
Hope Valley
Derbyshire
S33 8WA
Accountants
HART SIMPSON
65 Ward Street
New Tupton
Chesterfield
Derbyshire
S42 6XR
Speedwell Cavern Limited
Statement of financial position
as at 31 January 2024
Tangible assets
473,156
397,869
Investment property
450,000
450,000
Cash at bank and in hand
955,307
961,274
Creditors: amounts falling due within one year
(268,212)
(315,587)
Net current assets
796,522
763,679
Total assets less current liabilities
1,719,678
1,611,548
Provisions for liabilities
Deferred tax
(1,700)
(1,700)
Net assets
1,717,978
1,609,848
Called up share capital
3,000
3,000
Profit and loss account
1,714,978
1,606,848
Shareholders' funds
1,717,978
1,609,848
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by
J D Harrison
Director
Company Registration No. 1113961
Speedwell Cavern Limited
Notes to the Accounts
for the year ended 31 January 2024
Speedwell Cavern Limited is a private company, limited by shares, registered in England and Wales, registration number 1113961. The registered office is Speedwell Cavern, Castleton, Hope Valley, Derbyshire, S33 8WA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Speedwell Cavern Limited
Notes to the Accounts
for the year ended 31 January 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 February 2023
696,188
96,199
9,700
175,166
977,253
Additions
-
96,080
-
-
96,080
At 31 January 2024
696,188
192,279
9,700
175,166
1,073,333
At 1 February 2023
356,676
46,822
7,790
168,096
579,384
Charge for the year
16,976
2,469
287
1,061
20,793
At 31 January 2024
373,652
49,291
8,077
169,157
600,177
At 31 January 2024
322,536
142,988
1,623
6,009
473,156
At 31 January 2023
339,512
49,377
1,910
7,070
397,869
Fair value at 1 February 2023
450,000
At 31 January 2024
450,000
Investment property is carried at fair value determined annually by the directors who have selected suitable valuation methods and inputs. The properties will be valued every 5 years by an external value.
No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.
The 2016 valuations were made by Saxton Mee on an open market value for existing use basis. The directors do not consider the value to be materially different at 31 January 2021. The original cost of the investment properties was £418777.00.
Amounts falling due within one year
Other debtors
40,000
40,000
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Creditors: amounts falling due within one year
2024
2023
Taxes and social security
7,627
38,540
Other creditors
20,008
22,009
Loans from directors
74,577
89,038
8
Average number of employees
During the year the average number of employees was 25 (2023: 25).