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REGISTERED NUMBER: 07178018 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SPINNEYS CONSULTING LIMITED

SPINNEYS CONSULTING LIMITED (REGISTERED NUMBER: 07178018)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

SPINNEYS CONSULTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Professor A B Ahmed
Prof S I Ahmed
Miss S I Ahmed
Miss M Ahmed





SECRETARY: Miss S I Ahmed





REGISTERED OFFICE: The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY





REGISTERED NUMBER: 07178018 (England and Wales)





ACCOUNTANTS: PWH Accountancy Ltd
The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY

SPINNEYS CONSULTING LIMITED (REGISTERED NUMBER: 07178018)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 1 1
Tangible assets 6 104,385 38,981
Investment property 7 434,840 430,535
539,226 469,517

CURRENT ASSETS
Debtors 8 90,261 216,407
Investments 9 478,866 468,269
Cash at bank 431,541 104,727
1,000,668 789,403
CREDITORS
Amounts falling due within one year 10 51,740 30,477
NET CURRENT ASSETS 948,928 758,926
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,488,154

1,228,443

CREDITORS
Amounts falling due after more than one
year

11

(68,027

)

-

PROVISIONS FOR LIABILITIES 12 (15,509 ) (15,445 )
NET ASSETS 1,404,618 1,212,998

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 14 1,404,518 1,212,898
SHAREHOLDERS' FUNDS 1,404,618 1,212,998

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

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

SPINNEYS CONSULTING LIMITED (REGISTERED NUMBER: 07178018)

BALANCE SHEET - continued
31 MARCH 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 16 December 2024 and were signed on its behalf by:




Professor A B Ahmed - Director



Miss S I Ahmed - Director


SPINNEYS CONSULTING LIMITED (REGISTERED NUMBER: 07178018)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Spinneys Consulting 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover
Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Fixtures, fittings & equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

SPINNEYS CONSULTING LIMITED (REGISTERED NUMBER: 07178018)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Financial instruments

Financial assets
Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities
The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

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.

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.

4. EMPLOYEES AND DIRECTORS

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

SPINNEYS CONSULTING LIMITED (REGISTERED NUMBER: 07178018)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 162,000
AMORTISATION
At 1 April 2023
and 31 March 2024 161,999
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

6. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 April 2023 106,644 - 106,644
Additions 7,699 92,500 100,199
At 31 March 2024 114,343 92,500 206,843
DEPRECIATION
At 1 April 2023 67,663 - 67,663
Charge for year 11,670 23,125 34,795
At 31 March 2024 79,333 23,125 102,458
NET BOOK VALUE
At 31 March 2024 35,010 69,375 104,385
At 31 March 2023 38,981 - 38,981

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 92,500
At 31 March 2024 92,500
DEPRECIATION
Charge for year 23,125
At 31 March 2024 23,125
NET BOOK VALUE
At 31 March 2024 69,375

SPINNEYS CONSULTING LIMITED (REGISTERED NUMBER: 07178018)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 430,535
Revaluations 4,305
At 31 March 2024 434,840
NET BOOK VALUE
At 31 March 2024 434,840
At 31 March 2023 430,535

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 434,840

If Investment property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 372,792 372,792

Investment property was valued on an open market basis on 31 March 2024 by the directors .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 12,285 11,097
Other debtors 9,985 -
Directors' current accounts 67,197 204,744
Tax 794 566
90,261 216,407

9. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Other 478,866 468,269

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 13,597 -
Tax 36,072 28,429
Social security and other taxes 571 609
Accrued expenses 1,500 1,439
51,740 30,477

SPINNEYS CONSULTING LIMITED (REGISTERED NUMBER: 07178018)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 68,027 -

12. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 15,509 15,445

Deferred
tax
£   
Balance at 1 April 2023 15,445
Charge to Income Statement during year 64
Balance at 31 March 2024 15,509

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

14. RESERVES
Retained
earnings
£   

At 1 April 2023 1,212,898
Profit for the year 191,620
At 31 March 2024 1,404,518

15. RELATED PARTY DISCLOSURES

At 31 March 2024, a loan of £67,197 was due from the director Professor A B Aamer. This amount was repaid in full after the year end.

16. ULTIMATE CONTROLLING PARTY

The directors Mr A B Ahmed and Mrs S I Ahmed act as the controlling party by reason of their controlling interest in the issued share capital of the company.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SPINNEYS CONSULTING LIMITED

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spinneys Consulting Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Spinneys Consulting Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Spinneys Consulting Limited and state those matters that we have agreed to state to the Board of Directors of Spinneys Consulting Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spinneys Consulting Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Spinneys Consulting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Spinneys Consulting Limited. You consider that Spinneys Consulting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Spinneys Consulting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






PWH Accountancy Ltd
The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY


16 December 2024