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REGISTERED NUMBER: 03709910















Unaudited Financial Statements for the Year Ended 29 February 2024

for

SP Tax Limited

SP Tax Limited (Registered number: 03709910)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SP Tax Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: P B Adams
R Luff





REGISTERED OFFICE: Suite 2, Victoria House
South Street
Farnham
Surrey
GU9 7QU





REGISTERED NUMBER: 03709910





ACCOUNTANTS: Branston Adams
Suite 2, Victoria House
South Street
Farnham
Surrey
GU9 7QU

SP Tax Limited (Registered number: 03709910)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 5,019 -
5,019 -

CURRENT ASSETS
Work in progress 47,474 -
Debtors 6 18,176 53,651
Cash at bank 131,223 158,196
196,873 211,847
CREDITORS
Amounts falling due within one year 7 197,411 202,910
NET CURRENT (LIABILITIES)/ASSETS (538 ) 8,937
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,481

8,937

CAPITAL AND RESERVES
Called up share capital 304 304
Retained earnings 4,177 8,633
SHAREHOLDERS' FUNDS 4,481 8,937

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 27 November 2024 and were signed on its behalf by:





P B Adams - Director


SP Tax Limited (Registered number: 03709910)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

SP Tax Limited is a private company, limited by shares , registered in Not specified/Other. 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 represents income derived from the ordinary activities during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

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

SP Tax Limited (Registered number: 03709910)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 10,053 29,296 39,349
DEPRECIATION
At 1 March 2023
and 29 February 2024 10,053 29,296 39,349
NET BOOK VALUE
At 29 February 2024 - - -
At 28 February 2023 - - -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 5,019
At 29 February 2024 5,019
NET BOOK VALUE
At 29 February 2024 5,019

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 4,533 51,953
Other debtors 13,643 1,698
18,176 53,651

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 7,759 3,256
Taxation and social security 27,015 23,698
Other creditors 162,637 175,956
197,411 202,910

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P B Adams.

Mr P Adams was the ultimate controller during the current and proceeding years.