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REGISTERED NUMBER: 01327799 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

W. Spence & Son (Blacksmiths) Limited

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


W. Spence & Son (Blacksmiths) Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: S W Spence
Mrs J J Spence
R S Spence





SECRETARY: Mrs J J Spence





REGISTERED OFFICE: Bolton House
Bolton Lane
Hose
Melton Mowbray
Leicestershire
LE14 4JE





REGISTERED NUMBER: 01327799 (England and Wales)





ACCOUNTANTS: SRB Associates (Leicestershire) Limited
Pera Business Park
Nottingham Road
Melton Mowbray
Leicestershire
LE13 0PB

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

Statement of Financial Position
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,701 49,133
Investments 5 111,451 113,171
151,152 162,304

CURRENT ASSETS
Inventories 4,725 4,500
Debtors 6 33,176 26,115
Cash at bank 46,668 51,745
84,569 82,360
CREDITORS
Amounts falling due within one year 7 48,523 49,609
NET CURRENT ASSETS 36,046 32,751
TOTAL ASSETS LESS CURRENT
LIABILITIES

187,198

195,055

PROVISIONS FOR LIABILITIES 8 9,462 11,572
NET ASSETS 177,736 183,483

CAPITAL AND RESERVES
Called up share capital 9 18,376 18,376
Revaluation reserve 10 38,053 39,446
Retained earnings 121,307 125,661
SHAREHOLDERS' FUNDS 177,736 183,483

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

Statement of Financial Position - continued
30 April 2024


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 13 December 2024 and were signed on its behalf by:




S W Spence - Director Mrs J J Spence - Director




R S Spence - Director


W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

W. Spence & Son (Blacksmiths) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each assets over its expected useful life, as follows:

Freehold property - no depreciation
Plant and machinery - 12.5% reducing balance basis
Fixtures and fittings - 25% reducing balance basis
Motor vehicles - 25% reducing balance basis

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments are measured at fair value at each reporting date and changes in fair value are recognised in the income statement and the revaluation reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2023 10,536 5,220 1,756 83,352 100,864
Additions - - 140 - 140
At 30 April 2024 10,536 5,220 1,896 83,352 101,004
DEPRECIATION
At 1 May 2023 - 4,326 923 46,482 51,731
Charge for year - 112 242 9,218 9,572
At 30 April 2024 - 4,438 1,165 55,700 61,303
NET BOOK VALUE
At 30 April 2024 10,536 782 731 27,652 39,701
At 30 April 2023 10,536 894 833 36,870 49,133

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 May 2023 113,171
Revaluations (1,720 )
At 30 April 2024 111,451
NET BOOK VALUE
At 30 April 2024 111,451
At 30 April 2023 113,171

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 April 2024 is represented by:

Other
investments
£   
Valuation in 2017 12,225
Valuation in 2018 3,640
Valuation in 2019 4,197
Valuation in 2020 (6,662 )
Valuation in 2021 11,319
Valuation in 2022 17,193
Valuation in 2023 1,784
Valuation in 2024 (1,720 )
Cost 69,475
111,451

If investments had not been revalued they would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 69,475 69,475

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 26,441 19,566
Other debtors 6,735 6,549
33,176 26,115

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 6,802 5,270
Taxation and social security 13,161 5,700
Other creditors 28,560 38,639
48,523 49,609

8. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 9,462 11,572

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 11,572
Credit to Income Statement during year (2,110 )
Balance at 30 April 2024 9,462

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
12,251 A Ordinary £1 12,251 12,251
6,125 B Ordinary £1 6,125 6,125
18,376 18,376

10. RESERVES
Revaluation
reserve
£   
At 1 May 2023 39,446
Revaluation in year (1,720 )
Deferred tax movement 327

At 30 April 2024 38,053

The aggregate surplus on re-measurement of investments, net of associated deferred tax, is transferred to a separate non-distributable reserve in order to assist with the identification of profits available for distribution.