SPRYDON DESIGNS LTD

Company Registration Number:
06480991 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

SPRYDON DESIGNS LTD

Contents of the Financial Statements

for the Period Ended 31 January 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

SPRYDON DESIGNS LTD

Company Information

for the Period Ended 31 January 2024




Director: Claire Irene Harding
Richard John Harding
Secretary: Claire Irene Harding
Registered office: Stoneleigh, North Cadbury
Yeovil
Somerset
BA22 7DJ
Company Registration Number: 06480991 (England and Wales)

SPRYDON DESIGNS LTD

Balance sheet

As at 31 January 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 200,354 202,127
Total fixed assets: 200,354 202,127
Current assets
Debtors: 3,491 4,170
Cash at bank and in hand: 37,427 36,470
Total current assets: 40,918 40,640
Creditors: amounts falling due within one year: ( 2,999 ) ( 3,403 )
Net current assets (liabilities): 37,919 37,237
Total assets less current liabilities: 238,273 239,364
Provision for liabilities: ( 8,685 ) ( 9,022 )
Total net assets (liabilities): 229,588 230,342

The notes form part of these financial statements

SPRYDON DESIGNS LTD

Balance sheet continued

As at 31 January 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Revaluation reserve: 5 42,935 42,935
Profit and loss account: 186,553 187,307
Shareholders funds: 229,588 230,342

For the year ending 31 January 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 16 October 2024
And Signed On Behalf Of The Board By:

Name: Claire Irene Harding
Status: Director

The notes form part of these financial statements

SPRYDON DESIGNS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the value of services provided under contracts in the ordinary course of the company's activities to the extent that there is a right to consideration and is recorded at the value of the consideration due, net of VAT.

    Property rental income earned from the company's investment property is recognised in the period to which it relates.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:


    Fixtures and fittings

    Computer equipment

    15 % reducing balance

    3 years straight line

    Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

    The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

    Valuation information and policy

    Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

    The fair value is determined annually by the directors, on an open market value for existing use basis.

SPRYDON DESIGNS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 2 2

SPRYDON DESIGNS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 3. Off balance sheet disclosure

    No

SPRYDON DESIGNS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Tangible Assets

Total
Cost £
At 01 February 2023 213,610
Additions 847
Disposals -
Revaluations -
Transfers -
At 31 January 2024 214,457
Depreciation
At 01 February 2023 11,483
Charge for year 2,620
On disposals -
Other adjustments -
At 31 January 2024 14,103
Net book value
At 31 January 2024 200,354
At 31 January 2023 202,127

The fair value of the company’s investment property was revalued on 31 January 2024 by the board of directors. The valuation was conducted at current open market value.

There has been no valuation of investment property by an independent valuer.

The deferred tax attributable to the investment property has been considered and £8,428 (2023 - £8,428) has been provided for in the financial statements.

SPRYDON DESIGNS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Revaluation reserve


2024
£
Balance at 01 February 2023 42,935
Surplus or deficit after revaluation 0
Balance at 31 January 2024 42,935

SPRYDON DESIGNS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

6.1. Loans to Directors

Name of director receiving advance or credit: Claire Irene Harding
Description of the transaction:
The joint directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 per director at the official HMRC rates.
Balance at 01 February 2023 509
Advances or credits made: 21,280
Advances or credits repaid: 21,928
Balance at 31 January 2024 ( 139 )

At 1 February 2022, the balance owed by the directors was £889. During the year, £20,025 was advanced to the directors, and £20,405 was repaid by the directors. The balance owed by the directors at 31 January 2023 was £509.