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REGISTERED NUMBER: 06610329 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 March 2024

for

SPGL Limited

SPGL Limited (Registered number: 06610329)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SPGL Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J Lad





REGISTERED OFFICE: Coronation Parade
42 Cannon Lane
Pinner
Middlesex
HA5 1HW





REGISTERED NUMBER: 06610329 (England and Wales)






SPGL Limited (Registered number: 06610329)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 21,583 20,664
Investments 6 5,601 5,601
27,184 26,265

CURRENT ASSETS
Debtors 7 2,572,056 2,477,137
Cash at bank 1,112,719 1,310,101
3,684,775 3,787,238
CREDITORS
Amounts falling due within one year 8 734,435 904,435
NET CURRENT ASSETS 2,950,340 2,882,803
TOTAL ASSETS LESS CURRENT LIABILITIES 2,977,524 2,909,068

PROVISIONS FOR LIABILITIES 5,396 5,166
NET ASSETS 2,972,128 2,903,902

CAPITAL AND RESERVES
Called up share capital 9 3,000 3,000
Retained earnings 2,969,128 2,900,902
SHAREHOLDERS' FUNDS 2,972,128 2,903,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 3 September 2024 and were signed by:




J Lad - Director


SPGL Limited (Registered number: 06610329)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

SPGL Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

3. ACCOUNTING POLICIES

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

Preparation of consolidated financial statements
The financial statements contain information about SPGL Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents income receivable from customers for professional services provided during the period. It is measured at the fair value of consideration received or receivable from customers, including expenses and disbursements but net of any discounts and Value Added Tax. Income is recognised when the amount can be reliably measured and it is probable that future economic benefits will flow.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 30% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to and from related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income statement.

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.


SPGL Limited (Registered number: 06610329)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. 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.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to Income statement on a straight line basis over the period of the lease.

Pension costs
The company operates defined contribution pension schemes. Contributions payable to the company's pension schemes are charged to profit or loss in the period to which they relate.

Going concern
The company meets its day-to-day working capital requirements through careful management of its working capital positions. After making enquiries, the Director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Exceptional items
The company classifies certain one-off charges or credits that have a material impact on the company's financial results as 'Exceptional Items'. These are disclosed separately to provide further understanding of the financial performance of the company.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 29 ) .

5. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 April 2023 81,795
Additions 10,168
At 31 March 2024 91,963
DEPRECIATION
At 1 April 2023 61,131
Charge for year 9,249
At 31 March 2024 70,380
NET BOOK VALUE
At 31 March 2024 21,583
At 31 March 2023 20,664

SPGL Limited (Registered number: 06610329)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 5,601
NET BOOK VALUE
At 31 March 2024 5,601
At 31 March 2023 5,601

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 1,412,228 1,614,694
Amounts owed by group undertakings 883,662 282,238
Other debtors 276,166 580,205
2,572,056 2,477,137

Others debtors include an amount of £164,596 (2023: £529,237) owed to the company by a bank in respect of trade debtors invoice discounting commercial finance facility.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 426,674 595,831
Amounts owed to group undertakings 192,928 192,928
Taxation and social security 97,883 72,309
Other creditors 16,950 43,367
734,435 904,435

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
26,700 Ordinary 10p 2,670 2,670
3,300 Common "A" 10p 330 330
3,000 3,000