Company registration number 06575443 (England and Wales)
SPECTROSERV CAPITAL LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
SPECTROSERV CAPITAL LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
SPECTROSERV CAPITAL LTD
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
400,000
400,000
Current assets
Debtors
4
58,587
57,172
Cash at bank and in hand
362
10,043
58,949
67,215
Creditors: amounts falling due within one year
5
(19,143)
(23,730)
Net current assets
39,806
43,485
Total assets less current liabilities
439,806
443,485
Creditors: amounts falling due after more than one year
6
(107,372)
(120,092)
Net assets
332,434
323,393
Capital and reserves
Called up share capital
95
95
Profit and loss reserves
332,339
323,298
Total equity
332,434
323,393
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SPECTROSERV CAPITAL LTD
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 11 March 2025 and are signed on its behalf by:
Mrs J P J Idowu
Director
Company registration number 06575443 (England and Wales)
SPECTROSERV CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Spectroserv Capital Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Spectrum House, 6 Howarth Court, Broadway Business Park, Oldham, OL9 9XB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rental income and amounts receivable for services, net of VAT.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
SPECTROSERV CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
400,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,800
15,000
Other debtors
51,787
42,172
58,587
57,172
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
12,720
12,720
Trade creditors
282
1,710
Taxation and social security
2,535
7,581
Other creditors
3,606
1,719
19,143
23,730
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
107,372
120,092
The loan is secure by a fixed and floating charge over the assets of the company.