Registered number
06313836
Spinnaker Management Resources Ltd
Report and Accounts
30 September 2024
Spinnaker Management Resources Ltd
Report and accounts
Contents
Page
Company information 1
Director's report 2
Accountants' report 3
Profit and loss account 4
Balance sheet 5
Notes to the accounts 6 & 7
Spinnaker Management Resources Ltd
Company Information
Director
A J G Morrsion
Accountants
Holmes & Co Ltd
10 Torrington Road
Claygate
Esher
Surrey
KT10 0SA
Bankers
TSB Bank plc
Henry Duncan House
120 George St
Edinburgh
EH2 4LH
Registered office
10 Torrington Road
Claygate
Esher
Surrey
KT10 0SA
Registered number
06313836
Spinnaker Management Resources Ltd
Registered number: 06313836
Director's Report
The director presents his report and accounts for the year ended 30 September 2024.
Principal activities
The company's principal activity during the year continued to be the provision of consultancy services principally to the oil and gas industry.
Directors
The following persons served as directors during the year:
A J G Morrison
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 15 October 2024 and signed on its behalf.
A J G Morrison
Director
Spinnaker Management Resources Ltd
Accountants' Report
Accountants' report to the director of
Spinnaker Management Resources Ltd
You consider that the company is exempt from an audit for the year ended 30 September 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Holmes & Co Ltd
Chartered Accountants
10 Torrington Road
Claygate
Esher
Surrey
KT10 0SA
15 October 2024
Spinnaker Management Resources Ltd
Profit and Loss Account
for the year ended 30 September 2024
2024 2023
£ £
Turnover 1 36,002 30,000
Administrative expenses (6,566) (15,500)
Operating profit 29,436 14,500
Interest receivable 688 653
Profit before taxation 30,124 15,153
Tax on profit (5,724) (2,879)
Profit for the financial year 24,400 12,274
Spinnaker Management Resources Ltd
Registered number: 06313836
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 75,087 9,020
Current assets
Cash at bank and in hand 30,835 69,631
Creditors: amounts falling due within one year 4 (6,648) (3,777)
Net current assets 24,187 65,854
Net assets 99,274 74,874
Capital and reserves
Called up share capital 10 10
Profit and loss account 99,264 74,864
Shareholder's funds 99,274 74,874
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
A J G Morrison
Director
Approved by the board on 15 October 2024
Spinnaker Management Resources Ltd
Notes to the Accounts
for the year ended 30 September 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - 1
3 Investments
Other
investments
£
Cost
At 1 October 2023 9,020
Additions 66,067
At 30 September 2024 75,087
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 900 900
Taxation and social security costs 5,748 2,877
6,648 3,777
5 Controlling party
The Company is controlled by A J G Morrison who owns 100% of the issued shares.
6 Other information
Spinnaker Management Resources Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 Torrington Road
Claygate
Esher
Surrey
KT10 0SA
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