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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
Page
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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
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Spin Brands Limited Statement of financial position as at 31 December 2023
31/12/2023 
28/02/2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
63,652 
76,382 
Tangible assets
37,511 
15,420 
Investments
124,800 
104,800 
225,963 
196,602 
Current assets
Debtors
797,984 
840,068 
Cash at bank and in hand
758,934 
151,652 
1,556,918 
991,720 
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 
Capital and reserves
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
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Spin Brands Limited Notes to the Accounts for the period from 1 March 2023 to 31 December 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
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
Foreign exchange
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
Investments in shares are included at fair value.
Turnover
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.
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Spin Brands Limited Notes to the Accounts for the period from 1 March 2023 to 31 December 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 March 2023
76,382 
At 31 December 2023
76,382 
Amortisation
At 1 March 2023
- 
Charge for the period
12,730 
At 31 December 2023
12,730 
Net book value
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 
Disposals
- 
(708)
(708)
At 31 December 2023
14,274 
69,249 
83,523 
Depreciation
At 1 March 2023
4,712 
28,921 
33,633 
Charge for the period
1,680 
10,817 
12,497 
On disposals
- 
(118)
(118)
At 31 December 2023
6,392 
39,620 
46,012 
Net book value
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 
Additions
20,000 
Valuation at 31 December 2023
124,800 
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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 
599,822 
567,077 
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 
£ 
£ 
VAT
152,016 
31,049 
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 
Accruals
33,898 
2,027 
Deferred income
177,256 
- 
1,449,100 
383,660 
9
Creditors: amounts falling due after more than one year
31/12/2023 
28/02/2023 
£ 
£ 
Bank loans
21,745 
28,843 
10
Average number of employees
During the period the average number of employees was 44 (28/02/2023: 44).
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