Spedeworth International (Southern) Ltd
Registered number: 04619426
Statement of Financial Position
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 570,457 576,730
Current assets
Debtors 4 141,140 103,498
Cash at bank and in hand 292,497 257,441
433,637 360,939
Creditors: amounts falling due within one year 5 (83,130) (46,419)
Net current assets 350,507 314,520
Total assets less current liabilities 920,964 891,250
Provisions for liabilities (4,705) (4,767)
Net assets 916,259 886,483
Capital and reserves
Called up share capital 1 1
Profit and loss account 916,258 886,482
Shareholders' funds 916,259 886,483
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 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.
D R Wood
Director
Approved by the board on 11 March 2025
Spedeworth International (Southern) Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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:
Freehold buildings No depreciation
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction 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. 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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions 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.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 26 26
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 551,639 70,837 622,476
At 31 December 2024 551,639 70,837 622,476
Depreciation
At 1 January 2024 - 45,746 45,746
Charge for the year - 6,273 6,273
At 31 December 2024 - 52,019 52,019
Net book value
At 31 December 2024 551,639 18,818 570,457
At 31 December 2023 551,639 25,091 576,730
4 Debtors 2024 2023
£ £
Trade debtors 33,740 59,201
Prepayments 18,907 31,297
Other debtors 88,493 13,000
141,140 103,498
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 27,886 18,289
Accruals 1,950 1,925
Corporation tax 36,167 3,061
Other taxes and social security costs 17,127 23,144
83,130 46,419
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
D R Wood
Repayable on demand - 75,546 - 75,546
- 75,546 - 75,546
7 Other information
Spedeworth International (Southern) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Spedeworth House, Hollybush Ind. Park
Hollybush Lane
Aldershot
Hampshire
GU11 2PX
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