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REGISTERED NUMBER: 07635495 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SPINEL CONTRACTORS LIMITED

SPINEL CONTRACTORS LIMITED (REGISTERED NUMBER: 07635495)

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

Report of the Accountants 8

SPINEL CONTRACTORS LIMITED

COMPANY INFORMATION
for the Year Ended 31 MAY 2024







DIRECTOR: J P Przezdziecki



REGISTERED OFFICE: 69 Suffolk Road
Barking
Essex
IG11 7QP



REGISTERED NUMBER: 07635495 (England and Wales)



ACCOUNTANTS: Dataday Accountability
Accountants & Business Consultants
2 Seabraes Lane
Dundee
Angus
DD1 4AB



BANKERS: Santander Bank
P O Box 382
21 Prescot Street
London
E1 8AD

SPINEL CONTRACTORS LIMITED (REGISTERED NUMBER: 07635495)

BALANCE SHEET
31 MAY 2024

31/5/24 31/5/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 118 283

CURRENT ASSETS
Stocks 5 12,500 7,700
Debtors 6 43,882 51,882
Cash at bank - 11,779
56,382 71,361
CREDITORS
Amounts falling due within one year 7 (50,850 ) (62,228 )
NET CURRENT ASSETS 5,532 9,133
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,650

9,416

CREDITORS
Amounts falling due after more than one
year

8

-

(4,667

)
NET ASSETS 5,650 4,749

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 5,649 4,748
SHAREHOLDERS' FUNDS 5,650 4,749

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 director acknowledges his 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.

SPINEL CONTRACTORS LIMITED (REGISTERED NUMBER: 07635495)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 21 March 2025 and were signed by:





J P Przezdziecki - Director


SPINEL CONTRACTORS LIMITED (REGISTERED NUMBER: 07635495)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2024


1. STATUTORY INFORMATION

Spinel Contractors Limited 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 represents net invoiced sales of goods and services, excluding value added tax.

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 - 33% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Office equipment - 50% on cost

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.

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.

SPINEL CONTRACTORS LIMITED (REGISTERED NUMBER: 07635495)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 1,000 190 19,508 2,891 23,589
Additions - - - 236 236
At 31 May 2024 1,000 190 19,508 3,127 23,825
DEPRECIATION
At 1 June 2023 1,000 190 19,508 2,608 23,306
Charge for year - - - 401 401
At 31 May 2024 1,000 190 19,508 3,009 23,707
NET BOOK VALUE
At 31 May 2024 - - - 118 118
At 31 May 2023 - - - 283 283

SPINEL CONTRACTORS LIMITED (REGISTERED NUMBER: 07635495)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 June 2023
and 31 May 2024 19,508
DEPRECIATION
At 1 June 2023
and 31 May 2024 19,508
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. STOCKS
31/5/24 31/5/23
£    £   
Work-in-progress 12,500 7,700

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade debtors 43,882 51,882

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Bank loans and overdrafts 2,756 2,000
Tax 2,008 3,842
Social security and other taxes 2,049 1,211
Pension contributions 335 (84 )
VAT 3,925 8,649
Dividends payable 7,000 -
Net wages 4,537 4,343
Director's Loan 26,440 40,467
Accrued expenses 1,800 1,800
50,850 62,228

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/24 31/5/23
£    £   
Bank loans - 1-2 years - 4,667

SPINEL CONTRACTORS LIMITED (REGISTERED NUMBER: 07635495)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/24 31/5/23
value: £    £   
1 Ordinary Shares 1 1 1

10. RESERVES
Retained
earnings
£   

At 1 June 2023 4,748
Profit for the year 7,901
Dividends (7,000 )
At 31 May 2024 5,649

SPINEL CONTRACTORS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
SPINEL CONTRACTORS LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Dataday Accountability
Accountants & Business Consultants
2 Seabraes Lane
Dundee
Angus
DD1 4AB


21 March 2025