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REGISTERED NUMBER: 04665183 (England and Wales)















SPENCERS BUILDERS LIMITED

Unaudited Financial Statements for the Year Ended 29 February 2024






SPENCERS BUILDERS LIMITED (REGISTERED NUMBER: 04665183)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


SPENCERS BUILDERS LIMITED

Company Information
for the year ended 29 February 2024







Directors: I M Spencer
F L Spencer





Registered office: Yew Tree Cottage
Wickridge Street
Ashleworth
Gloucester
Gloucestershire
GL19 4JW





Registered number: 04665183 (England and Wales)





Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
3rd Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Spencers Builders Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spencers Builders Limited for the year ended 29 February 2024 which comprise the Income Statement, 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Spencers Builders Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Spencers Builders Limited and state those matters that we have agreed to state to the Board of Directors of Spencers Builders Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spencers Builders Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Spencers Builders Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Spencers Builders Limited. You consider that Spencers Builders Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Spencers Builders Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cooper Parry Advisory Limited
CUBO Birmingham
3rd Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX


Date: .............................................

SPENCERS BUILDERS LIMITED (REGISTERED NUMBER: 04665183)

Balance Sheet
29 February 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 31,522 31,397

Current assets
Debtors 5 62,981 25,110
Cash at bank 63,403 48,024
126,384 73,134
Creditors
Amounts falling due within one year 6 98,128 54,263
Net current assets 28,256 18,871
Total assets less current liabilities 59,778 50,268

Creditors
Amounts falling due after more than one year 7 (11,956 ) (18,851 )

Provisions for liabilities (7,881 ) (5,021 )
Net assets 39,941 26,396

Capital and reserves
Called up share capital 100 100
Retained earnings 39,841 26,296
Shareholders' funds 39,941 26,396

SPENCERS BUILDERS LIMITED (REGISTERED NUMBER: 04665183)

Balance Sheet - continued
29 February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 June 2024 and were signed on its behalf by:




I M Spencer - Director



F L Spencer - Director


SPENCERS BUILDERS LIMITED (REGISTERED NUMBER: 04665183)

Notes to the Financial Statements
for the year ended 29 February 2024

1. Statutory information

Spencers Builders 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.

2. Accounting policies

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 6 (2023 - 7 ) .

SPENCERS BUILDERS LIMITED (REGISTERED NUMBER: 04665183)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

4. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
Cost
At 1 March 2023 22,329 2,224 79,418 5,844 109,815
Additions - - 10,500 308 10,808
At 29 February 2024 22,329 2,224 89,918 6,152 120,623
Depreciation
At 1 March 2023 14,314 2,063 56,863 5,178 78,418
Charge for year 2,004 32 8,264 383 10,683
At 29 February 2024 16,318 2,095 65,127 5,561 89,101
Net book value
At 29 February 2024 6,011 129 24,791 591 31,522
At 28 February 2023 8,015 161 22,555 666 31,397

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£
Cost
At 1 March 2023
and 29 February 2024 25,193
Depreciation
At 1 March 2023 20,710
Charge for year 1,121
At 29 February 2024 21,831
Net book value
At 29 February 2024 3,362
At 28 February 2023 4,483

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 61,255 361
Accrued income - 21,877
Prepayments 1,726 2,872
62,981 25,110

SPENCERS BUILDERS LIMITED (REGISTERED NUMBER: 04665183)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 6,674 6,674
Trade creditors 44,495 22,983
Tax 17,434 1,993
Social security and other taxes 592 1,267
Pension creditor 212 -
VAT 24,644 18,283
Other creditors 2,281 619
Directors' current accounts 446 1,294
Accrued expenses 1,350 1,150
98,128 54,263

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans - 1-2 years 11,956 13,348
Bank loans - 2-5 years - 5,503
11,956 18,851