Registered number
09304452
SPYDER-LABS (EMEA) LIMITED
Filleted Accounts
30 November 2024
SPYDER-LABS (EMEA) LIMITED
Registered number: 09304452
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 31,217 37,216
Current assets
Debtors 4 24,138 21,277
Cash at bank and in hand 9,085 19,856
33,223 41,133
Creditors: amounts falling due within one year 5 (17,836) (15,634)
Net current assets 15,387 25,499
Total assets less current liabilities 46,604 62,715
Creditors: amounts falling due after more than one year 6 (26,501) (49,890)
Net assets 20,103 12,825
Capital and reserves
Called up share capital 2 2
Profit and loss account 20,101 12,823
Shareholders' funds 20,103 12,825
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Steele
Director
Approved by the board on 10 February 2025
SPYDER-LABS (EMEA) LIMITED
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 20% per annum of net book value
Motor vehicles 20% per annum of net book value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 December 2023 15,361 45,890 61,251
Additions 1,805 - 1,805
At 30 November 2024 17,166 45,890 63,056
Depreciation
At 1 December 2023 7,515 16,520 24,035
Charge for the year 1,930 5,874 7,804
At 30 November 2024 9,445 22,394 31,839
Net book value
At 30 November 2024 7,721 23,496 31,217
At 30 November 2023 7,846 29,370 37,216
4 Debtors 2024 2023
£ £
Trade debtors 1,158 1,158
Other debtors 22,980 20,119
24,138 21,277
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 6,304 5,153
Trade creditors 407 407
Accruals and deferred income 2,533 2,493
Taxation and social security costs 8,592 7,581
17,836 15,634
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 26,501 32,806
Directors loans - 17,084
26,501 49,890
7 Events after the reporting date
There were no material post balance sheet events up to the 10th February 2025, being the date ofapproval of the financial statements by the board of direcors.
8 Other information
SPYDER-LABS (EMEA) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
43 Jesmond Crescent
Crewe
Cheshire
CW2 7NJ
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