Company Registration No. 10013007 (England and Wales)
Spin Brands Limited
Unaudited accounts
for the period from 1 March 2023 to 31 December 2023
Spin Brands Limited
Unaudited accounts
Contents
Spin Brands Limited
Company Information
for the period from 1 March 2023 to 31 December 2023
Directors
Max Alexander Whicher
Alex Bodini
Company Number
10013007 (England and Wales)
Registered Office
36 Ayres St
London
SE11EU
Accountants
Enso Accountants Ltd
Spin Brands Limited
Statement of financial position
as at 31 December 2023
Intangible assets
63,652
76,382
Tangible assets
37,511
15,420
Investments
124,800
104,800
Cash at bank and in hand
758,934
151,652
Creditors: amounts falling due within one year
(1,449,100)
(383,660)
Net current assets
107,818
608,060
Total assets less current liabilities
333,781
804,662
Creditors: amounts falling due after more than one year
(21,745)
(28,843)
Net assets
312,036
775,819
Called up share capital
20
20
Profit and loss account
312,016
775,799
Shareholders' funds
312,036
775,819
For the period ending 31 December 2023 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 29 August 2024 and were signed on its behalf by
Max Alexander Whicher
Director
Company Registration No. 10013007
Spin Brands Limited
Notes to the Accounts
for the period from 1 March 2023 to 31 December 2023
Spin Brands Limited is a private company, limited by shares, registered in England and Wales, registration number 10013007. The registered office is 36 Ayres St, London, SE11EU.
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 period, 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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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:
Fixtures & fittings
5 Year Straight Line
Computer equipment
3 Year Straight Line
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments in shares are included at fair value.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Spin Brands Limited
Notes to the Accounts
for the period from 1 March 2023 to 31 December 2023
4
Intangible fixed assets
Other
At 31 December 2023
76,382
Charge for the period
12,730
At 31 December 2023
12,730
At 31 December 2023
63,652
At 28 February 2023
76,382
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2023
7,276
41,777
49,053
Additions
6,998
28,180
35,178
At 31 December 2023
14,274
69,249
83,523
At 1 March 2023
4,712
28,921
33,633
Charge for the period
1,680
10,817
12,497
At 31 December 2023
6,392
39,620
46,012
At 31 December 2023
7,882
29,629
37,511
At 28 February 2023
2,564
12,856
15,420
6
Investments
Other investments
Valuation at 1 March 2023
104,800
Valuation at 31 December 2023
124,800
Spin Brands Limited
Notes to the Accounts
for the period from 1 March 2023 to 31 December 2023
7
Debtors
31/12/2023
28/02/2023
Amounts falling due within one year
Trade debtors
490,602
429,632
Accrued income and prepayments
27,891
-
Other debtors
81,329
137,445
Amounts falling due after more than one year
Amounts due from group undertakings etc.
198,162
272,991
8
Creditors: amounts falling due within one year
31/12/2023
28/02/2023
Trade creditors
321,663
140,233
Taxes and social security
74,220
187,617
Other creditors
689,328
21,835
Loans from directors
719
899
9
Creditors: amounts falling due after more than one year
31/12/2023
28/02/2023
10
Average number of employees
During the period the average number of employees was 44 (28/02/2023: 44).