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COMPANY REGISTRATION NUMBER: 08451793
Spellow Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
Spellow Limited
Statement of Financial Position
31 March 2024
31 Mar 24
30 Sep 22
Note
£
£
Current assets
Investments
4
99,252
87,868
Cash at bank and in hand
638
638
---------
---------
99,890
88,506
Creditors: amounts falling due within one year
5
2,812
1,880
---------
---------
Net current assets
97,078
86,626
---------
---------
Total assets less current liabilities
97,078
86,626
---------
---------
Net assets
97,078
86,626
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
96,978
86,526
---------
---------
Shareholders funds
97,078
86,626
---------
---------
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 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 October 2024 , and are signed on behalf of the board by:
R A D Langton
D E P Douglas
Director
Director
Company registration number: 08451793
Spellow Limited
Notes to the Financial Statements
Period from 1 October 2022 to 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Langton Cottage, Langton by Spilsby, Spilsby, PE23 4PU.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the 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.
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. Investments
31 Mar 24
30 Sep 22
£
£
Other investments
99,252
87,868
---------
---------
5. Creditors: amounts falling due within one year
31 Mar 24
30 Sep 22
£
£
Corporation tax
2,452
1,483
Other creditors
360
397
-------
-------
2,812
1,880
-------
-------
6. Related party transactions
Spellow Limited is a partner in Langton (Spilsby) Farms, a partnership in which the directors are also partners. Its capital account in the partnership amounted to £99,252 and this is included in these accounts as a current asset investment.