BrightAccountsProduction v1.0.0 v1.0.0 2023-05-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is design, consultancy and mechanical engineering. 27 January 2025 1 1 NI601177 2024-04-30 NI601177 2023-04-30 NI601177 2022-04-30 NI601177 2023-05-01 2024-04-30 NI601177 2022-05-01 2023-04-30 NI601177 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI601177 uk-curr:PoundSterling 2023-05-01 2024-04-30 NI601177 uk-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI601177 uk-bus:FullAccounts 2023-05-01 2024-04-30 NI601177 uk-core:ShareCapital 2024-04-30 NI601177 uk-core:ShareCapital 2023-04-30 NI601177 uk-core:RetainedEarningsAccumulatedLosses 2024-04-30 NI601177 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 NI601177 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-04-30 NI601177 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-04-30 NI601177 uk-bus:FRS102 2023-05-01 2024-04-30 NI601177 uk-core:Goodwill 2023-05-01 2024-04-30 NI601177 uk-core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI601177 uk-core:Goodwill 2023-04-30 NI601177 uk-core:Goodwill 2024-04-30 NI601177 uk-core:CurrentFinancialInstruments 2024-04-30 NI601177 uk-core:CurrentFinancialInstruments 2023-04-30 NI601177 uk-core:WithinOneYear 2024-04-30 NI601177 uk-core:WithinOneYear 2023-04-30 NI601177 uk-core:OtherMiscellaneousReserve 2023-04-30 NI601177 uk-core:OtherMiscellaneousReserve 2023-05-01 2024-04-30 NI601177 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-04-30 NI601177 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-04-30 NI601177 uk-core:OtherDeferredTax 2024-04-30 NI601177 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-04-30 NI601177 uk-core:OtherMiscellaneousReserve 2024-04-30 NI601177 2023-05-01 2024-04-30 NI601177 uk-bus:Director1 2023-05-01 2024-04-30 NI601177 uk-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI601177
 
 
Spherius Ltd
 
Unaudited Financial Statements
 
for the financial year ended 30 April 2024
Spherius Ltd
Company Registration Number: NI601177
BALANCE SHEET
as at 30 April 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 866 1,154
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Current Assets
Debtors 6 10,600 1,000
Cash and cash equivalents 1,313 2,100
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11,913 3,100
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Creditors: amounts falling due within one year 7 (7,837) (5,675)
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Net Current Assets/(Liabilities) 4,076 (2,575)
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Total Assets less Current Liabilities 4,942 (1,421)
 
Provisions for liabilities 9 18,926 20,122
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Net Assets 23,868 18,701
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Capital and Reserves
Called up share capital 10 10
Retained earnings 23,858 18,691
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Equity attributable to owners of the company 23,868 18,701
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 27 January 2025
           
           
________________________________          
Mr. Kevin Conway          
Director          
           



Spherius Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 April 2024

   
1. General Information
 
Spherius Ltd is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 1a Killybrack Mews, Omagh, Co Tyrone, BT79 7FB which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 April 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Research and development
Research and development expenditure is written off to the profit and loss account in the year in which it is incurred.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 5 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 25% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future.  Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was;
 
  2024 2023
  Number Number
 
Average No of Employees 1 1
  ═════════ ═════════
     
4. Intangible assets
   
  Goodwill
  £
Cost
At 1 May 2023 10,000
  ─────────
 
At 30 April 2024 10,000
  ─────────
Amortisation
 
At 30 April 2024 10,000
  ─────────
Net book value
At 30 April 2024 -
  ═════════
       
5. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 May 2023 8,496 8,496
  ───────── ─────────
 
At 30 April 2024 8,496 8,496
  ───────── ─────────
Depreciation
At 1 May 2023 7,342 7,342
Charge for the financial year 288 288
  ───────── ─────────
At 30 April 2024 7,630 7,630
  ───────── ─────────
Net book value
At 30 April 2024 866 866
  ═════════ ═════════
At 30 April 2023 1,154 1,154
  ═════════ ═════════
       
6. Debtors 2024 2023
  £ £
 
Trade debtors 9,600 -
Other debtors 1,000 1,000
  ───────── ─────────
  10,600 1,000
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Taxation  (Note 8) 2,332 482
Director's current account 3,225 2,913
Other creditors 830 830
Accruals 1,450 1,450
  ───────── ─────────
  7,837 5,675
  ═════════ ═════════
       
8. Taxation 2024 2023
  £ £
 
Creditors:
VAT 2,322 482
PAYE / NI 10 -
  ───────── ─────────
  2,332 482
  ═════════ ═════════
           
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2024 2023
  £ £ £ £
 
At financial year start 203 (20,325) (20,122) (20,183)
Charged to profit and loss (65) 1,261 1,196 61
  ───────── ───────── ───────── ─────────
At financial year end 138 (19,064) (18,926) (20,122)
  ═════════ ═════════ ═════════ ═════════
       
10. Related party transactions
 
At the start of the year Spherius Ltd owed the director of the company £2,913. During the year the company borrowed a further £312 from the director. At the end of the year Spherius Ltd owed the director £3,225 (2023: £2,913), and this is included in the creditors section of the balance sheet.

Kevin Conway, director of Spherius Ltd, is also a director of Conway Design and Innovation Ltd. During the year Spherius Ltd carried out work for Conway Design and Innovation Ltd. These transactions were all at arms length and the following amount is included in the financial statements;
Sales - £17,900
Trade Debtors - £9,600

At the start of the year Conway Design and Innovation Ltd owed Spherius Ltd £1,000. During the year, there were no further transactions. At the year end Conway Design and Innovation Ltd owed Spherius Ltd £1,000 (2023: £1,000) and this is included in the debtors section of the balance sheet.