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Registered Number: 12476543
England and Wales

 

 

 


Abridged Accounts

for the year ended 29 February 2024

for

SPEEDBROKER LTD

Accountant's report

You consider that the company is exempt from an audit for the year ended 29 February 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 Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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.



....................................................

The Z Squared Group Ltd

Riverdale House
21a High Street
Wheathampstead
AL4 8BB
19 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 4,000    8,000 
Tangible fixed assets 4 22,389    6,056 
26,389    14,056 
Current assets      
Stocks   11,900 
Cash at bank and in hand 7,307    92 
7,307    11,992 
Creditors: amount falling due within one year (27,588)   (28,704)
Net current assets (20,281)   (16,712)
 
Total assets less current liabilities 6,108    (2,656)
Provisions for liabilities (834)   (802)
Net assets 5,274    (3,458)
 

Capital and reserves
     
Called up share capital 2    2 
Share premium account (5,000)  
Reserves 4,500   
Profit and loss account 5,772    (3,460)
Shareholders' funds 5,274    (3,458)
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 19 November 2024 and were signed on its behalf by:


-------------------------------
Mr P Gardner
Director
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General Information
Speedbroker Ltd is a private company, limited by shares, registered in England and Wales, registration number 12476543, registration address Riverdale House, 21a High Street, Wheathampstead, Herts, AL4 8BB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 March 2023 20,000    20,000 
Additions  
Disposals  
At 29 February 2024 20,000    20,000 
Amortisation
At 01 March 2023 12,000    12,000 
Charge for year 4,000    4,000 
On disposals  
At 29 February 2024 16,000    16,000 
Net book values
At 29 February 2024 4,000    4,000 
At 28 February 2023 8,000    8,000 


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Total
  £   £
At 01 March 2023 9,950    9,950 
Additions 13,500    13,500 
Disposals  
Revaluations 4,500    4,500 
At 29 February 2024 27,950    27,950 
Depreciation
At 01 March 2023 3,894    3,894 
Charge for year 1,667    1,667 
On disposals  
At 29 February 2024 5,561    5,561 
Net book values
Closing balance as at 29 February 2024 22,389    22,389 
Opening balance as at 01 March 2023 6,056    6,056 


3