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Registered number: 08840356
Spencer Riley Limited
Unaudited Financial Statements
For the Period 1 February 2023 to 30 June 2024
Search Accountancy Limited
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—7
Page 1
Statement of Financial Position
Registered number: 08840356
30 June 2024 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 181,552 -
Tangible Assets 5 7,339 13,300
188,891 13,300
CURRENT ASSETS
Debtors 6 614,839 319,121
Cash at bank and in hand 28,342 325,251
643,181 644,372
Creditors: Amounts Falling Due Within One Year 7 (522,426 ) (370,539 )
NET CURRENT ASSETS (LIABILITIES) 120,755 273,833
TOTAL ASSETS LESS CURRENT LIABILITIES 309,646 287,133
Creditors: Amounts Falling Due After More Than One Year 8 (282,492 ) (290,531 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,534 ) (2,284 )
NET ASSETS/(LIABILITIES) 25,620 (5,682 )
CAPITAL AND RESERVES
Called up share capital 10 100 80
Revaluation reserve 12 25,556 -
Income Statement (36 ) (5,762 )
SHAREHOLDERS' FUNDS 25,620 (5,682)
Page 1
Page 2
For the period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr S Ellam
Director
25/03/2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Spencer Riley Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08840356 . The registered office is Atlas House, 31 King Street, Leeds, LS1 2HL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are carried at a revalued amount (based on fair value) less any subsequent accumulated amortization and impairment losses. The fair value is determined by reference to an active market.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5% RB
Plant & Machinery 33% SLM
Motor Vehicles 33% SLM
Fixtures & Fittings 33% SLM
Computer Equipment 33% SLM
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 17 (2023: 17)
17 17
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4. Intangible Assets
Other
£
Cost or Valuation
As at 1 February 2023 2,473
Additions 155,996
Revaluations 25,556
As at 30 June 2024 184,025
Amortisation
As at 1 February 2023 2,473
As at 30 June 2024 2,473
Net Book Value
As at 30 June 2024 181,552
As at 1 February 2023 -
The intangible asset was revalued on the 30 June 2024 using the global price index data.
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2023 1,542 15,879 11,480 18,735 47,636
Additions - - 3,343 5,709 9,052
As at 30 June 2024 1,542 15,879 14,823 24,444 56,688
Depreciation
As at 1 February 2023 214 14,673 8,767 10,682 34,336
Provided during the period 67 842 4,602 9,502 15,013
As at 30 June 2024 281 15,515 13,369 20,184 49,349
Net Book Value
As at 30 June 2024 1,261 364 1,454 4,260 7,339
As at 1 February 2023 1,328 1,206 2,713 8,053 13,300
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6. Debtors
30 June 2024 31 January 2023
£ £
Due within one year
Trade debtors 184,928 276,423
Prepayments and accrued income 28,703 19,816
Other debtors 340,108 22,882
Director's loan account 61,100 -
614,839 319,121
7. Creditors: Amounts Falling Due Within One Year
30 June 2024 31 January 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,460 5,122
Trade creditors 63,234 1,289
Bank loans and overdrafts 191,879 43,314
Other loans 17,753 10,000
Corporation tax 140,163 47,139
Other taxes and social security 30,384 8,982
VAT 29,080 49,727
Net wages 17,182 -
Other creditors 22,940 25,141
Accruals and deferred income 6,351 179,825
522,426 370,539
8. Creditors: Amounts Falling Due After More Than One Year
30 June 2024 31 January 2023
£ £
Net obligations under finance lease and hire purchase contracts - 6,201
Bank loans 282,492 261,033
Other loans - 23,297
282,492 290,531
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9. Obligations Under Finance Leases and Hire Purchase
30 June 2024 31 January 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,460 5,122
Later than one year and not later than five years - 6,201
3,460 11,323
3,460 11,323
10. Share Capital
30 June 2024 31 January 2023
£ £
Allotted, Called up and fully paid 100 80
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Scott Ellam - 61,100 - - 61,100
The above loan is unsecured, interest free and repayable on demand.
12. Reserves
Revaluation Reserve
£
Surplus on revaluation 25,556
As at 30 June 2024 25,556
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