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REGISTERED NUMBER: 10363041 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Spectrum Facilities Management Services
Ltd

Spectrum Facilities Management Services
Ltd (Registered number: 10363041)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Spectrum Facilities Management Services
Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: S Mills
Mrs A Mills



REGISTERED OFFICE: Spectrum Lodge
52a Dunster Close
Tuffley
Gloucester
Gloucestershire
GL4 0TP



REGISTERED NUMBER: 10363041 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: National Westminster Bank Plc
21 Eastgate Street
Gloucester
GL1 1NH

Spectrum Facilities Management Services
Ltd (Registered number: 10363041)

Statement of Financial Position
30 September 2024

30/9/24 30/9/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,035 29,541

CURRENT ASSETS
Stocks 18,243 37,169
Debtors 5 14,677 28,105
Cash at bank and in hand 1 10,964
32,921 76,238
CREDITORS
Amounts falling due within one year 6 75,061 85,507
NET CURRENT LIABILITIES (42,140 ) (9,269 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(26,105

)

20,272

CREDITORS
Amounts falling due after more than one
year

7

(5,627

)

(14,647

)

PROVISIONS FOR LIABILITIES (3,046 ) (5,613 )
NET (LIABILITIES)/ASSETS (34,778 ) 12

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (34,779 ) 11
SHAREHOLDERS' FUNDS (34,778 ) 12

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Spectrum Facilities Management Services
Ltd (Registered number: 10363041)

Statement of Financial Position - continued
30 September 2024


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 18 March 2025 and were signed on its behalf by:





S Mills - Director


Spectrum Facilities Management Services
Ltd (Registered number: 10363041)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Spectrum Facilities Management Services Ltd is a private company, limited by shares , registered in England and Wales. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Spectrum Facilities Management Services
Ltd (Registered number: 10363041)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
The accounts have been prepared on a going concern basis, despite the fact that liabilities exceed assets. The directors have given an undertaking to support the company until it returns to a net assets position. They consider that it is appropriate to prepare the accounts on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 October 2023 65,560 2,130 67,690
Disposals (14,995 ) - (14,995 )
Transfer to ownership (15,270 ) - (15,270 )
At 30 September 2024 35,295 2,130 37,425
Depreciation
At 1 October 2023 36,410 1,739 38,149
Charge for year 5,267 156 5,423
Eliminated on disposal (6,912 ) - (6,912 )
Transfer to ownership (15,270 ) - (15,270 )
At 30 September 2024 19,495 1,895 21,390
Net book value
At 30 September 2024 15,800 235 16,035
At 30 September 2023 29,150 391 29,541

Spectrum Facilities Management Services
Ltd (Registered number: 10363041)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
Cost
At 1 October 2023 45,760
Disposals (14,995 )
Transfer to ownership (15,270 )
At 30 September 2024 15,495
Depreciation
At 1 October 2023 21,266
Charge for year 4,103
Eliminated on disposal (6,912 )
Transfer to ownership (9,499 )
At 30 September 2024 8,958
Net book value
At 30 September 2024 6,537
At 30 September 2023 24,494

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade debtors 9,067 14,258
Other debtors 5,610 13,847
14,677 28,105

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Bank loans and overdrafts 11,652 8,062
Hire purchase contracts (see note 8) 755 12,087
Trade creditors 510 10,941
Taxation and social security 19,283 28,211
Other creditors 42,861 26,206
75,061 85,507

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/9/24 30/9/23
£    £   
Bank loans 5,627 13,892
Hire purchase contracts (see note 8) - 755
5,627 14,647

Spectrum Facilities Management Services
Ltd (Registered number: 10363041)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30/9/24 30/9/23
£    £   
Net obligations repayable:
Within one year 755 12,087
Between one and five years - 755
755 12,842

Non-cancellable operating leases
30/9/24 30/9/23
£    £   
Within one year - 817

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30/9/24 30/9/23
£    £   
S Mills and Mrs A Mills
Balance outstanding at start of year 10,398 -
Amounts advanced - 10,398
Amounts repaid (10,398 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,398

10. RELATED PARTY DISCLOSURES

At 30 September 2024, the company owed the directors Mr S and Mrs A Mills £17,610 . The balance owed, included within other creditors, is made of business expenses not yet reimbursed and declared dividends directly credited to the directors' loan account. The loan balance is repayable to the directors on demand.

11. GOING CONCERN

There was a net deficiency of assets of £34,778 at the balance sheet date, however the directors have confirmed continued support and considers the company retains sufficient working capital to continue trading for the foreseeable future.