Spinfish Publishing Limited
Annual Report and Unaudited Financial Statements
For the year ended 31 March 2024
Pages for filing with Registrar
Company Registration No. 09875181 (England and Wales)
Spinfish Publishing Limited
Company Information
Directors
Mrs E Cole
Mr A Cole
Ms A S Joyce
Company number
09875181
Registered office
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Accountants
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Spinfish Publishing Limited
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,372
2,635
Current assets
Debtors
4
28,774
21,719
Cash at bank and in hand
15,564
3,478
44,338
25,197
Creditors: amounts falling due within one year
5
(55,655)
(41,209)
Net current liabilities
(11,317)
(16,012)
Total assets less current liabilities
(6,945)
(13,377)
Creditors: amounts falling due after more than one year
6
(6,258)
(11,267)
Provisions for liabilities
7
(831)
-
0
Net liabilities
(14,034)
(24,644)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(14,134)
(24,744)
Total equity
(14,034)
(24,644)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Spinfish Publishing Limited
Balance Sheet (Continued)
As at 31 March 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 21 November 2024 and are signed on its behalf by:
Mrs E Cole
Director
Company Registration No. 09875181
Spinfish Publishing Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Page 3
1
Accounting policies
Company information

Spinfish Publishing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Betchworth House, 57-65 Station Road, Redhill, Surrey, RH1 1DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the balance sheet date the company had net liabilities of £14,034 (2023: £24,644). The company continues to be profitable and the directors have agreed to provide support the company for at least 12 months from the date of approving these financial statements. At the time of approving these financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents the invoiced value of goods and services provided net of VAT and discounts.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
3 years straight line method
Computers equipment
3 years straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents include cash in hand and balances held at call with banks.

1.6
Financial instruments
The company has only financial instruments classified as basic and measured at amortised cost. The company has no financial instruments classified as 'other' or financial instruments measured at fair value.
Spinfish Publishing Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 4
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as an expense as they fall due. Any unpaid short-term benefits for services rendered during the period are recognised as a liability.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
3
Spinfish Publishing Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
13,336
Additions
2,914
Disposals
(314)
At 31 March 2024
15,936
Depreciation and impairment
At 1 April 2023
10,701
Depreciation charged in the year
1,177
Eliminated in respect of disposals
(314)
At 31 March 2024
11,564
Carrying amount
At 31 March 2024
4,372
At 31 March 2023
2,635
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
22,149
19,779
Other debtors
1,884
84
Prepayments and accrued income
4,741
1,856
28,774
21,719
Spinfish Publishing Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 6
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,006
5,006
Trade creditors
2,034
-
0
Corporation tax
2,293
159
Other taxation and social security
8,855
3,440
Other creditors
1,044
4,229
Accruals and deferred income
36,423
28,375
55,655
41,209
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
6,258
11,267
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
831
-
0
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

£
£
Within one year
-
0
1,583
Spinfish Publishing Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 7
10
Related party transactions

Included within other debtors at the year end is a balance due from the directors of £1,415 (2023: £3,969 - creditor).

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