22 June 2023 v2025.5.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP149536312023-06-222024-06-30149536312024-06-3014953631core:WithinOneYear2024-06-3014953631core:AfterOneYear2024-06-3014953631core:SharePremium2024-06-3014953631core:RetainedEarningsAccumulatedLosses2024-06-3014953631bus:Director12023-06-222024-06-3014953631bus:RegisteredOffice2023-06-222024-06-3014953631core:PlantMachinery2023-06-222024-06-3014953631core:MotorVehicles2023-06-222024-06-3014953631core:PlantMachinery2024-06-301495363112023-06-222024-06-3014953631countries:EnglandWales2023-06-222024-06-3014953631bus:AuditExemptWithAccountantsReport2023-06-222024-06-3014953631bus:PrivateLimitedCompanyLtd2023-06-222024-06-3014953631bus:SmallEntities2023-06-222024-06-3014953631bus:FullAccounts2023-06-222024-06-30
Company registration number:
14953631
Chris Spence Services Ltd
Unaudited Filleted Financial Statements for the period ended
30 June 2024
Chris Spence Services Ltd
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Chris Spence Services Ltd
Period ended
30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Chris Spence Services Ltd
for the period ended
30 June 2024
which comprise the income statement, statement of financial position, statement of changes in equity and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Chris Spence Services Ltd
, as a body. My work has been undertaken solely to prepare for your approval the
financial statements
of
Chris Spence Services Ltd
and state those matters that I have agreed to state to the Board of Directors of
Chris Spence Services Ltd
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Chris Spence Services Ltd
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Chris Spence Services Ltd
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Chris Spence Services Ltd
. You consider that
Chris Spence Services Ltd
is exempt from the statutory audit requirement for the period.
I have not been instructed to carry out an audit or a review of the financial statements of Chris Spence Services Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Murtagh & Co Limited
36 Arden Close
Balsall Common
COVENTRY
West Midlands
CV7 7NY
United Kingdom
Date:
15 January 2025
Chris Spence Services Ltd
Statement of Financial Position
30 June 2024
30 Jun 2024
Note£
Fixed assets  
Tangible assets 5
99,112
 
Current assets  
Debtors 6
38,615
 
Cash at bank and in hand
18,572
 
57,187
 
Creditors: amounts falling due within one year 7
(62,481
)
Net current liabilities
(5,294
)
Total assets less current liabilities 93,818  
Creditors: amounts falling due after more than one year 8
(68,037
)
Net assets
25,781
 
Capital and reserves  
Share premium
1
 
Profit and loss account
25,780
 
Shareholders funds
25,781
 
For the period ending
30 June 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
15 January 2025
, and are signed on behalf of the board by:
C Spence
Director
Company registration number:
14953631
Chris Spence Services Ltd
Notes to the Financial Statements
Period ended
30 June 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Moat Lodge Hob Lane
,
Burton Green
,
Kenilworth
,
CV8 1QB
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% WDV
Motor vehicles
25% WDV

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the period was
2
.

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
22 June 2023
-  
Additions
132,149
 
At
30 June 2024
132,149
 
Depreciation  
At
22 June 2023
-  
Charge
33,037
 
At
30 June 2024
33,037
 
Carrying amount  
At
30 June 2024
99,112
 

6 Debtors

30 Jun 2024
£
Trade debtors
28,673
 
Other debtors
9,942
 
38,615
 

7 Creditors: amounts falling due within one year

30 Jun 2024
£
Bank loans and overdrafts
18,357
 
Trade creditors
27,310
 
Taxation and social security
1,722
 
Other creditors
15,092
 
62,481
 

8 Creditors: amounts falling due after more than one year

30 Jun 2024
£
Other creditors
68,037