1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-31 Sage Accounts Production Advanced 2023 - FRS102_2023 105,015 105,015 xbrli:pure xbrli:shares iso4217:GBP 06035573 2022-12-31 2023-12-29 06035573 2023-12-29 06035573 2022-12-30 06035573 2021-12-31 2022-12-30 06035573 2022-12-30 06035573 2021-12-30 06035573 core:LandBuildings core:ShortLeaseholdAssets 2022-12-31 2023-12-29 06035573 core:FurnitureFittings 2022-12-31 2023-12-29 06035573 bus:Director2 2022-12-31 2023-12-29 06035573 core:LandBuildings 2022-12-30 06035573 core:FurnitureFittings 2022-12-30 06035573 core:WithinOneYear 2023-12-29 06035573 core:WithinOneYear 2022-12-30 06035573 core:AfterOneYear 2023-12-29 06035573 core:AfterOneYear 2022-12-30 06035573 core:LandBuildings 2022-12-31 2023-12-29 06035573 core:ShareCapital 2023-12-29 06035573 core:ShareCapital 2022-12-30 06035573 core:RetainedEarningsAccumulatedLosses 2023-12-29 06035573 core:RetainedEarningsAccumulatedLosses 2022-12-30 06035573 core:CostValuation core:Non-currentFinancialInstruments 2023-12-29 06035573 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-12-29 06035573 bus:Director2 2022-12-30 06035573 bus:Director2 2021-12-30 06035573 bus:Director2 2022-12-30 06035573 bus:Director2 2021-12-31 2022-12-30 06035573 bus:SmallEntities 2022-12-31 2023-12-29 06035573 bus:AuditExemptWithAccountantsReport 2022-12-31 2023-12-29 06035573 bus:SmallCompaniesRegimeForAccounts 2022-12-31 2023-12-29 06035573 bus:PrivateLimitedCompanyLtd 2022-12-31 2023-12-29 06035573 bus:FullAccounts 2022-12-31 2023-12-29
COMPANY REGISTRATION NUMBER: 06035573
SPENCER HART SAVILE ROW LTD
Filleted Unaudited Financial Statements
29 December 2023
SPENCER HART SAVILE ROW LTD
Statement of Financial Position
29 December 2023
29 Dec 23
30 Dec 22
Note
£
£
£
Fixed assets
Tangible assets
5
( 1,423)
Current assets
Stocks
5,500
7,500
Debtors
7
68,869
85,015
Cash at bank and in hand
15,139
10,221
--------
---------
89,508
102,736
Creditors: amounts falling due within one year
8
76,313
69,951
--------
---------
Net current assets
13,195
32,785
--------
--------
Total assets less current liabilities
13,195
31,362
Creditors: amounts falling due after more than one year
9
1,778,301
1,624,237
Provisions
Taxation including deferred tax
18,195
------------
------------
Net liabilities
( 1,765,106)
( 1,611,070)
------------
------------
Capital and reserves
Called up share capital
1,867,785
1,867,785
Profit and loss account
( 3,632,891)
( 3,478,855)
------------
------------
Shareholder deficit
( 1,765,106)
( 1,611,070)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 29 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SPENCER HART SAVILE ROW LTD
Statement of Financial Position (continued)
29 December 2023
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
Mr Hart
Director
Company registration number: 06035573
SPENCER HART SAVILE ROW LTD
Notes to the Financial Statements
Period from 31 December 2022 to 29 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 33, Pall Mall Deposit, Barlby Road, London, W10 6BL, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable from the sale of menswear and fees receivable during the year, exclusive of Value Added Tax.
Income tax
Deferred Tax is recognised in respect of all timing difference that have been originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
leasehold improvement
-
20% straight line
Fixtures and fittings
-
20% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2022: 1 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 31 December 2022
25,882
107,709
33,980
167,571
Disposals
( 25,882)
( 107,709)
( 133,591)
--------
---------
--------
---------
At 29 December 2023
33,980
33,980
--------
---------
--------
---------
Depreciation
At 31 December 2022
25,882
107,709
35,403
168,994
Charge for the period
( 1,423)
( 1,423)
Disposals
( 25,882)
( 107,709)
( 133,591)
--------
---------
--------
---------
At 29 December 2023
33,980
33,980
--------
---------
--------
---------
Carrying amount
At 29 December 2023
--------
---------
--------
---------
At 30 December 2022
( 1,423)
( 1,423)
--------
---------
--------
---------
6. Investments
Other investments other than loans
£
Cost
At 31 December 2022 and 29 December 2023
105,015
---------
Impairment
At 31 December 2022 and 29 December 2023
105,015
---------
Carrying amount
At 29 December 2023
---------
At 30 December 2022
---------
7. Debtors
29 Dec 23
30 Dec 22
£
£
Other debtors
68,869
85,015
--------
--------
8. Creditors: amounts falling due within one year
29 Dec 23
30 Dec 22
£
£
Trade creditors
16,274
22,522
Corporation tax
14,878
14,878
Social security and other taxes
34,571
24,417
Other creditors
10,590
8,134
--------
--------
76,313
69,951
--------
--------
9. Creditors: amounts falling due after more than one year
29 Dec 23
30 Dec 22
£
£
Other creditors
1,778,301
1,624,237
------------
------------
Other Creditors related to loan from the major shareholder, which is unsecured, interest free and repayable on demand.
10. Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
29 Dec 23
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr Hart
16,313
( 16,313)
--------
--------
----
30 Dec 22
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr Hart
18,417
( 2,104)
16,313
--------
-------
--------