Company registration number 06097793 (England and Wales)
R S SPANTON LIMITED
Unaudited Financial Statements
For The Period Ended 31 March 2024
Pages For Filing With Registrar
R S Spanton Limited
R S SPANTON LIMITED
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
R S Spanton Limited
R S SPANTON LIMITED
Balance Sheet
As At 31 March 2024
31 March 2024
- 1 -
31 March 2024
30 April 2023
Notes
£
£
£
£
Current assets
Investments
4
653,037
652,394
Creditors: amounts falling due within one year
5
(524,925)
(524,925)
Net current assets
128,112
127,469
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
128,110
127,467
Total equity
128,112
127,469
For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 his responsibilities for complying with the requirements of the Companies Act 2006 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.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 29 January 2025
Mr DJ Spanton
Director
Company registration number 06097793 (England and Wales)
R S Spanton Limited
R S SPANTON LIMITED
Notes To The Financial Statements
For The Period Ended 31 March 2024
- 2 -
1
Accounting policies
Company information
R S Spanton Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chavereys Limited, The Goods Shed, Jubilee Way, Faversham, Kent, England, ME13 8GD.
1.1
Reporting period
The company's reporting period is 11 months in order to align with the partnership it is a partner for. The comparative information is not entirely comparative due to it representing 12 months.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.4
The company's interest in the partnership of D J Spanton and Mrs F A Paterson is dealt with in the financial statements by the equity method of accounting. That is the profit and loss account includes in turnover the company's share of the partnership profits and the company's share of profits less any drawings are added to the cost of the investment in the balance sheet.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
R S Spanton Limited
R S SPANTON LIMITED
Notes To The Financial Statements (Continued)
For The Period Ended 31 March 2024
- 3 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
1
1
4
Current asset investments
2024
2023
£
£
Other investments
653,037
652,394
The company is a partner in the partnership of D J Spanton and Mrs F A Paterson, an unincorporated farming partnership. The investment represents the company's capital account balance within the partnership.
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
524,925
524,925