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REGISTERED NUMBER: 09849863 (England and Wales)














SPENCER STUART LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






SPENCER STUART LIMITED (REGISTERED NUMBER: 09849863)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SPENCER STUART LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: J S Gilbrook
J J Gilbrook





REGISTERED OFFICE: 12 Fratton Road
Portsmouth
Hampshire
PO1 5BX





REGISTERED NUMBER: 09849863 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

SPENCER STUART LIMITED (REGISTERED NUMBER: 09849863)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 50 50

CURRENT ASSETS
Debtors 5 909,603 665,726
Cash at bank 61,484 65,634
971,087 731,360
CREDITORS
Amounts falling due within one year 6 155,572 54,361
NET CURRENT ASSETS 815,515 676,999
TOTAL ASSETS LESS CURRENT
LIABILITIES

815,565

677,049

CREDITORS
Amounts falling due after more than one
year

7

711,330

567,130
NET ASSETS 104,235 109,919

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 104,135 109,819
SHAREHOLDERS' FUNDS 104,235 109,919

SPENCER STUART LIMITED (REGISTERED NUMBER: 09849863)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024


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 28 November 2024 and were signed on its behalf by:





J S Gilbrook - Director


SPENCER STUART LIMITED (REGISTERED NUMBER: 09849863)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Spencer Stuart Limited is a private company, limited by shares , registered in England and Wales. 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SPENCER STUART LIMITED (REGISTERED NUMBER: 09849863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 50
NET BOOK VALUE
At 29 February 2024 50
At 28 February 2023 50

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Associated company

Innosonian Europe Limited
Registered office:
Nature of business:
%
Class of shares: holding
Ordinary £1 50.00
30.4.23 30.4.22
£    £   
Aggregate capital and reserves 199,778 168,848
Profit for the year 30,930 50,497

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors - 3,000
Directors' current accounts - 89,521
Corporation tax recoverable - 131,152
- 223,673

Amounts falling due after more than one year:
Amounts owed by group undertakings 909,603 442,053

Aggregate amounts 909,603 665,726

SPENCER STUART LIMITED (REGISTERED NUMBER: 09849863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax - 1,113
Other creditors 49,050 49,050
Directors' current accounts 103,403 -
Accrued expenses 3,119 4,198
155,572 54,361

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 711,330 567,130

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 ORDINARY 1p 100 100

9. RESERVES
Retained
earnings
£   

At 1 March 2023 109,819
Deficit for the year (5,684 )
At 29 February 2024 104,135

10. RELATED PARTY DISCLOSURES

As at 28 February 2024 the company was owed £117,053 from Innosonian Europe Limited in which it owns 50% of the issued share capital and in which Mr J Gilbrook is a director. (2023 - £117,053)

As at 28 February 2024 the company owed £711,330 to Wel Medical Limited in which it owned 100% of the share capital until 10 March 2020. (2023 - £567,130)

11. ULTIMATE CONTROLLING PARTY

The company is owned by Canabeb Limited, which is under the joint control of Mr & Mrs J Gilbrook.