Registered number
12288292
Spica Logistics Limited
Filleted Accounts
31 August 2024
Spica Logistics Limited
Registered number: 12288292
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,174 2,898
Current assets
Debtors 4 286,350 231,868
Cash at bank and in hand 140 1,248
286,490 233,116
Creditors: amounts falling due within one year 5 (248,588) (177,926)
Net current assets 37,902 55,190
Total assets less current liabilities 40,076 58,088
Creditors: amounts falling due after more than one year 6 (26,480) (51,770)
Net assets 13,596 6,318
Capital and reserves
Profit and loss account 13,596 6,318
Shareholder's funds 13,596 6,318
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Tolga Murat Celik
Director
Approved by the board on 3 October 2024
Spica Logistics Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 4,765
At 31 August 2024 4,765
Depreciation
At 1 September 2023 1,867
Charge for the year 724
At 31 August 2024 2,591
Net book value
At 31 August 2024 2,174
At 31 August 2023 2,898
4 Debtors 2024 2023
£ £
Trade debtors 284,524 217,578
Other debtors 1,826 14,290
286,350 231,868
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 70 4,275
Trade creditors 107,037 83,599
Taxation and social security costs 45,991 30,510
Other creditors 95,490 59,542
248,588 177,926
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 26,480 51,770
7 Other information
Spica Logistics Limited is a private company limited by shares and incorporated in England. Its registered office is:
32 Halifax Road,
Maidenhead
SL6 5EX
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