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Company Registration No. 10538757 (England and Wales)
Spencer-Mills Developments Limited Unaudited accounts for the year ended 31 December 2023
Spencer-Mills Developments Limited Unaudited accounts Contents
Page
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Spencer-Mills Developments Limited Company Information for the year ended 31 December 2023
Directors
A Spencer-Mills M Spencer-Mills
Company Number
10538757 (England and Wales)
Registered Office
1 Sunningdale Grove Heighington LN4 1SP United Kingdom
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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Spencer-Mills Developments Limited Accountants' report
Accountants' report to the board of directors of Spencer-Mills Developments Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Spencer-Mills Developments Limited for the year ended 31 December 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Spencer-Mills Developments Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Spencer-Mills Developments Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spencer-Mills Developments Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Spencer-Mills Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Spencer-Mills Developments Limited. You consider that Spencer-Mills Developments 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 accounts of Spencer-Mills Developments 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 accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 4 November 2024
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Spencer-Mills Developments Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
15,160 
18,287 
Cash at bank and in hand
38 
2,154 
15,198 
20,441 
Creditors: amounts falling due within one year
(407)
(3,500)
Net current assets
14,791 
16,941 
Total assets less current liabilities
14,791 
16,941 
Creditors: amounts falling due after more than one year
(5,832)
(7,630)
Net assets
8,959 
9,311 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
8,859 
9,211 
Shareholders' funds
8,959 
9,311 
For the year ending 31 December 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by
M Spencer-Mills Director Company Registration No. 10538757
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Spencer-Mills Developments Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Spencer-Mills Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 10538757. The registered office is 1 Sunningdale Grove, Heighington, LN4 1SP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
15,160 
18,287 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
- 
2,477 
Loans from directors
173 
123 
Accruals
234 
900 
407 
3,500 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
5,832 
7,630 
The company received a Bounce Back Loan of £10,000, which is a 100% UK Government backed loan. Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government. During this accounting period, grant income of £63 was received to cover the interest due of £63 on this loan. After the first 12 months, an interest rate of 2.5% is applicable. The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
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Spencer-Mills Developments Limited Notes to the Accounts for the year ended 31 December 2023
7
Transactions with related parties
Included in debtors is a related company loan to ASM Architecture, of £18,287 (2021 - £3,016 creditor). The loan is interest-free and repayable on demand.
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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