Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-311The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.Trading of plastic materialsfalse2023-06-012truetruefalse 08057904 2023-06-01 2024-05-31 08057904 2022-06-01 2023-05-31 08057904 2024-05-31 08057904 2023-05-31 08057904 c:Director1 2023-06-01 2024-05-31 08057904 d:FurnitureFittings 2023-06-01 2024-05-31 08057904 d:FurnitureFittings 2024-05-31 08057904 d:FurnitureFittings 2023-05-31 08057904 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08057904 d:CurrentFinancialInstruments 2024-05-31 08057904 d:CurrentFinancialInstruments 2023-05-31 08057904 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 08057904 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 08057904 d:ShareCapital 2024-05-31 08057904 d:ShareCapital 2023-05-31 08057904 d:RetainedEarningsAccumulatedLosses 2024-05-31 08057904 d:RetainedEarningsAccumulatedLosses 2023-05-31 08057904 c:FRS102 2023-06-01 2024-05-31 08057904 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 08057904 c:FullAccounts 2023-06-01 2024-05-31 08057904 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08057904 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 0805790408057904










SPIRE PLASTICS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
SPIRE PLASTICS LIMITED
REGISTERED NUMBER: 08057904

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
283
378

  
283
378

Current assets
  

Debtors: amounts falling due within one year
 5 
112,628
192,361

Cash at bank and in hand
  
50,024
7,419

  
162,652
199,780

Creditors: amounts falling due within one year
 6 
(37,219)
(77,893)

Net current assets
  
 
 
125,433
 
 
121,887

Total assets less current liabilities
  
125,716
122,265

  

Net assets
  
125,716
122,265


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
125,706
122,255

  
125,716
122,265


Page 1

 
SPIRE PLASTICS LIMITED
REGISTERED NUMBER: 08057904
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 October 2024.




C A Hall
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SPIRE PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Spire Plastics Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 08057904). Its registered office is 61 Foljambe Avenue, Chesterfield, Derbyshire, S40 3EY. The principal activity of the Company throughout the year continued to be that of the trading of plastic materials.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
SPIRE PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Fixtures, fittings and equipment
-
25% Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income & Retained Earnings.

 
2.4

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.5

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 2).

Page 4

 
SPIRE PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Fixtures, fittings and equipment

£



Cost


At 1 June 2023
8,749



At 31 May 2024

8,749



Depreciation


At 1 June 2023
8,371


Charge for the year on owned assets
95



At 31 May 2024

8,466



Net book value



At 31 May 2024
283



At 31 May 2023
378

Page 5

 
SPIRE PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
112,628
191,157

Other debtors
-
699

Prepayments and accrued income
-
505

112,628
192,361



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
34,035
63,874

Other taxation and social security
1,656
521

Other creditors
1,528
13,498

37,219
77,893


 
Page 6