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REGISTERED NUMBER: SC449496 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Speyprojects Limited

Speyprojects Limited (Registered number: SC449496)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Speyprojects Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: J Arnold
G Green





REGISTERED OFFICE: Unit 2
Troves Industrial Estate
Elgin
MORAY
IV30 8RB





REGISTERED NUMBER: SC449496 (Scotland)





ACCOUNTANTS: Stag Accountancy & Tax Services
6 Kintrae Rise
Elgin
MORAY
IV30 5ND

Speyprojects Limited (Registered number: SC449496)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 214,215 295,814

CURRENT ASSETS
Stocks 250,000 250,000
Debtors 5 633,414 308,949
Cash at bank 168,785 351,127
1,052,199 910,076
CREDITORS
Amounts falling due within one year 6 636,096 475,962
NET CURRENT ASSETS 416,103 434,114
TOTAL ASSETS LESS CURRENT
LIABILITIES

630,318

729,928

CREDITORS
Amounts falling due after more than
one year

7

274,097

383,465
NET ASSETS 356,221 346,463

Speyprojects Limited (Registered number: SC449496)

Balance Sheet - continued
31 May 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 49,900 49,900
Retained earnings 306,121 296,363
356,221 346,463

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

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

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

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




J Arnold - Director



G Green - Director


Speyprojects Limited (Registered number: SC449496)

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

1. STATUTORY INFORMATION

Speyprojects Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Speyprojects Limited (Registered number: SC449496)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 23 ) .

Speyprojects Limited (Registered number: SC449496)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 591,445
Additions 38,000
Disposals (23,000 )
At 31 May 2024 606,445
DEPRECIATION
At 1 June 2023 295,631
Charge for year 103,787
Eliminated on disposal (7,188 )
At 31 May 2024 392,230
NET BOOK VALUE
At 31 May 2024 214,215
At 31 May 2023 295,814

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 418,352 273,859
Other debtors 215,062 35,090
633,414 308,949

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 75,216 28,703
Hire purchase contracts 74,345 65,656
Trade creditors 194,343 223,700
Taxation and social security 289,192 155,226
Other creditors 3,000 2,677
636,096 475,962

Speyprojects Limited (Registered number: SC449496)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 182,743 240,392
Hire purchase contracts 91,354 143,073
274,097 383,465

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
J Arnold
Balance outstanding at start of year (36 ) 40,542
Amounts advanced 108,550 123,450
Amounts repaid (15,154 ) (164,028 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 93,360 (36 )

G Green
Balance outstanding at start of year (39 ) 40,539
Amounts advanced 108,550 123,450
Amounts repaid (15,154 ) (164,028 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 93,357 (39 )