IRIS Accounts Production v24.2.0.383 02782154 director 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh027821542022-12-31027821542023-12-31027821542023-01-012023-12-31027821542021-12-31027821542022-01-012022-12-31027821542022-12-3102782154ns15:EnglandWales2023-01-012023-12-3102782154ns14:PoundSterling2023-01-012023-12-3102782154ns10:Director12023-01-012023-12-3102782154ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3102782154ns10:SmallEntities2023-01-012023-12-3102782154ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3102782154ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3102782154ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102782154ns10:FullAccounts2023-01-012023-12-310278215412023-01-012023-12-3102782154ns5:CurrentFinancialInstruments2023-12-3102782154ns5:CurrentFinancialInstruments2022-12-3102782154ns5:ShareCapital2023-12-3102782154ns5:ShareCapital2022-12-3102782154ns5:RetainedEarningsAccumulatedLosses2023-12-3102782154ns5:RetainedEarningsAccumulatedLosses2022-12-310278215412023-01-012023-12-3102782154ns5:NetGoodwill2023-01-012023-12-3102782154ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3102782154ns5:NetGoodwill2022-12-3102782154ns5:NetGoodwill2023-12-3102782154ns5:NetGoodwill2022-12-3102782154ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-3102782154ns5:PlantMachinery2022-12-3102782154ns5:MotorVehicles2022-12-3102782154ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-012023-12-3102782154ns5:PlantMachinery2023-01-012023-12-3102782154ns5:MotorVehicles2023-01-012023-12-3102782154ns5:LongLeaseholdAssetsns5:LandBuildings2023-12-3102782154ns5:PlantMachinery2023-12-3102782154ns5:MotorVehicles2023-12-3102782154ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-3102782154ns5:PlantMachinery2022-12-3102782154ns5:MotorVehicles2022-12-3102782154ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3102782154ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-31
REGISTERED NUMBER: 02782154 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Anglia Spareline Limited

Anglia Spareline Limited (Registered number: 02782154)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


Anglia Spareline Limited (Registered number: 02782154)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 69,088 74,441
69,088 74,441

Current assets
Stocks 110,157 112,794
Debtors 6 226,139 326,701
Cash at bank 43,620 5,964
379,916 445,459
Creditors
Amounts falling due within one year 7 (230,439 ) (310,677 )
Net current assets 149,477 134,782
Total assets less current liabilities 218,565 209,223

Provisions for liabilities (3,812 ) (3,749 )
Net assets 214,753 205,474

Capital and reserves
Called up share capital 4 4
Retained earnings 214,749 205,470
214,753 205,474

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 director acknowledges his 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.

Anglia Spareline Limited (Registered number: 02782154)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





Mr G S Briggs - Director


Anglia Spareline Limited (Registered number: 02782154)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. Statement of compliance

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.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of one years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property-69 years straight line basis
Plant and machinery-15% reducing balance
Motor vehicles-25% reducing balance

Anglia Spareline Limited (Registered number: 02782154)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. Accounting policies - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Anglia Spareline Limited (Registered number: 02782154)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. Accounting policies - continued
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.

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 5 (2022 - 5 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023
and 31 December 2023 1
Amortisation
At 1 January 2023
and 31 December 2023 1
Net book value
At 31 December 2023 -
At 31 December 2022 -

Anglia Spareline Limited (Registered number: 02782154)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. Tangible fixed assets
Long Plant and Motor
leasehold machinery vehicles Totals
£ £ £ £
Cost
At 1 January 2023
and 31 December 2023 60,000 25,175 83,834 169,009
Depreciation
At 1 January 2023 5,292 20,679 68,597 94,568
Charge for year 870 674 3,809 5,353
At 31 December 2023 6,162 21,353 72,406 99,921
Net book value
At 31 December 2023 53,838 3,822 11,428 69,088
At 31 December 2022 54,708 4,496 15,237 74,441

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 223,020 323,216
Other debtors 3,119 3,485
226,139 326,701

7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 185,502 267,373
Taxation and social security 42,076 40,553
Other creditors 2,861 2,751
230,439 310,677

8. Related party disclosures

During the year, total dividends of £94,000 (2022 - £116,500) were paid to the director and his spouse.