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REGISTERED NUMBER: 07025599 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Spencer & Peyton Ltd

Spencer & Peyton Ltd (Registered number: 07025599)

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spencer & Peyton Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mrs E Harris
A Spencer





REGISTERED OFFICE: 380 Worting Road
Basingstoke
Hampshire
RG22 5DZ





REGISTERED NUMBER: 07025599 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Spencer & Peyton Ltd (Registered number: 07025599)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 95,647 116,503
95,647 116,503

CURRENT ASSETS
Stocks 61,354 79,147
Debtors 6 106,848 98,395
Cash at bank and in hand 574,568 567,273
742,770 744,815
CREDITORS
Amounts falling due within one year 7 195,314 164,826
NET CURRENT ASSETS 547,456 579,989
TOTAL ASSETS LESS CURRENT
LIABILITIES

643,103

696,492

PROVISIONS FOR LIABILITIES 8 8,552 10,972
NET ASSETS 634,551 685,520

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 634,451 685,420
SHAREHOLDERS' FUNDS 634,551 685,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Spencer & Peyton Ltd (Registered number: 07025599)

Balance Sheet - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by:





Mrs E Harris - Director


Spencer & Peyton Ltd (Registered number: 07025599)

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

Spencer & Peyton Ltd 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

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

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Spencer & Peyton Ltd (Registered number: 07025599)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where appropriate.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 480,000
AMORTISATION
At 1 November 2023
and 31 October 2024 480,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

Spencer & Peyton Ltd (Registered number: 07025599)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2023 57,615 48,653 487,798 594,066
Additions 2,750 8,492 - 11,242
Disposals - (6,529 ) (7,610 ) (14,139 )
At 31 October 2024 60,365 50,616 480,188 591,169
DEPRECIATION
At 1 November 2023 56,256 40,282 381,025 477,563
Charge for year 1,327 3,835 26,615 31,777
Eliminated on disposal - (6,529 ) (7,289 ) (13,818 )
At 31 October 2024 57,583 37,588 400,351 495,522
NET BOOK VALUE
At 31 October 2024 2,782 13,028 79,837 95,647
At 31 October 2023 1,359 8,371 106,773 116,503

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 87,196 45,810
Other debtors 19,652 52,585
106,848 98,395

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 64,160 60,288
Taxation and social security 36,956 63,952
Other creditors 94,198 40,586
195,314 164,826

8. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax 8,552 10,972

Spencer & Peyton Ltd (Registered number: 07025599)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2023 10,972
Accelerated capital allowances (2,420 )
Balance at 31 October 2024 8,552

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary £1 100 100