Registered number
02869457
Spencer (Isle of Wight) Limited
Unaudited Filleted Accounts
31 January 2024
Spencer (Isle of Wight) Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Chartered Accountants' report 3
Balance sheet 4
Notes to the accounts 5
Spencer (Isle of Wight) Limited
Company Information
Directors
R R Spencer
M H Spencer
R Spencer
Accountants
Cochrane & Co Accountants Limited
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
Registered office
20 Worsley Road
Gunard
Cowes
Isle of Wight
PO13 8JN
Registered number
02869457
Spencer (Isle of Wight) Limited
Registered number: 02869457
Directors' Report
The directors present their report and accounts for the year ended 31 January 2024.
Principal activities
The company did not trade during the year.
Directors
The following persons served as directors during the year:
R R Spencer
M H Spencer
R Spencer
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 11 September 2024 and signed on its behalf.
R R Spencer
Director
Spencer (Isle of Wight) Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Spencer (Isle of Wight) Limited for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Spencer (Isle of Wight) Limited for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Cochrane & Co Accountants Limited
Chartered Accountants
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
13 September 2024
Spencer (Isle of Wight) Limited
Registered number: 02869457
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Current assets
Cash at bank and in hand 289,499 305,225
Creditors: amounts falling due within one year 3 (3,688) (3,598)
Net current assets 285,811 301,627
Net assets 285,811 301,627
Capital and reserves
Called up share capital 25,000 25,000
Profit and loss account 260,811 276,627
Shareholders' funds 285,811 301,627
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
R R Spencer
Director
Approved by the board on 11 September 2024
Spencer (Isle of Wight) Limited
Notes to the Accounts
for the year ended 31 January 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).
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 3,688 3,598
4 Controlling party
The company was under the control of RR Spencer throughout the year.
5 Other information
Spencer (Isle of Wight) Limited is a private company limited by shares and incorporated in England. Its registered office is:
20 Worsley Road
Gunard
Cowes
Isle of Wight
PO13 8JN
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