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REGISTERED NUMBER: 00162366 (England and Wales)











C N SPENCER LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






C N SPENCER LIMITED (REGISTERED NUMBER: 00162366)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


C N SPENCER LIMITED (REGISTERED NUMBER: 00162366)

ABRIDGED BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 109,238 94,169
109,238 94,169

CURRENT ASSETS
Stocks 120,258 138,400
Debtors 6 162,829 134,957
Prepayments and accrued income 23,442 6,768
Cash at bank and in hand 52,825 70,608
359,354 350,733
CREDITORS
Amounts falling due within one year 39,956 32,839
NET CURRENT ASSETS 319,398 317,894
TOTAL ASSETS LESS CURRENT
LIABILITIES

428,636

412,063

CREDITORS
Amounts falling due after more than one
year

(12,402

)

(10,420

)

ACCRUALS AND DEFERRED INCOME (26,454 ) (24,621 )
NET ASSETS 389,780 377,022

CAPITAL AND RESERVES
Called up share capital 8 6,667 6,667
Capital reserve 31,333 31,333
Retained earnings 351,780 339,022
SHAREHOLDERS' FUNDS 389,780 377,022

C N SPENCER LIMITED (REGISTERED NUMBER: 00162366)

ABRIDGED BALANCE SHEET - continued
30 APRIL 2024


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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 7 January 2025 and were signed on its behalf by:




W H M Spencer - Director O C D Spencer - Director




W A M Spencer - Director


C N SPENCER LIMITED (REGISTERED NUMBER: 00162366)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

C N Spencer Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00162366

Registered office: Manor Farmhouse
Sudborough Road
Brigstock
Kettering
Northamptonshire
NN14 3JF

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.

Turnover
Turnover represents amounts (excluding value added tax) derived from the provision of goods and services to customers during the year.

Intangible fixed assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Purchased Payment Entitlement to secure future single payments under the European Union Common Agricultural Policy was amortised on a straight-line basis until 2012, which was when the expected life of the scheme came to an end.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on cost and 2% on cost
Plant and machinery - 25% on cost and 10% on cost
Motor vehicles - 25% on cost
Office equipment - 33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

C N SPENCER LIMITED (REGISTERED NUMBER: 00162366)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss account.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

C N SPENCER LIMITED (REGISTERED NUMBER: 00162366)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 16,000
AMORTISATION
At 1 May 2023
and 30 April 2024 16,000
NET BOOK VALUE

At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 742,755
Additions 38,910
Disposals (6,500 )
At 30 April 2024 775,165
DEPRECIATION
At 1 May 2023 648,586
Charge for year 23,841
Eliminated on disposal (6,500 )
At 30 April 2024 665,927
NET BOOK VALUE
At 30 April 2024 109,238
At 30 April 2023 94,169

Included in cost of land and buildings is freehold land of £ 49,279 (2023 - £ 49,279 ) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other debtors 62,926 66,762

C N SPENCER LIMITED (REGISTERED NUMBER: 00162366)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 28,489 34,623

Hire purchase creditors are secured on the relevant assets.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
6,667 Ordinary £1.00 6,667 6,667

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments not included on the balance sheet2024 2023
£ £
Operating leases21,99629,328

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
W A M Spencer
Balance outstanding at start of year 70,524 74,211
Amounts repaid (3,761 ) (3,687 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 66,763 70,524

The company charged interest at 2.00% (2023 - 2.00%) on overdrawn loan balances during the year amounting to £1,376 (2023 - £1,451). There are no fixed terms for repayment.