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Registered number: 10855216

SPYGLASS LIMITED

ACCOUNTS
FOR THE YEAR ENDED 31/07/2024

Prepared By:
VICTOR STEWART

SPYGLASS LIMITED

ACCOUNTS
FOR THE YEAR ENDED 31/07/2024
DIRECTORS
MS KATIE BERKELEY
MR CHRISTOPHER PALMER - Resigned 23.11.2022
REGISTERED OFFICE
THE WHITE HOUSE
164 BRIDGE ROAD
SARISBURY GREEN
SOUTHAMPTON
SO31 7EH
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 10855216
ACCOUNTANTS
VICTOR STEWART

SPYGLASS LIMITED

ACCOUNTS
FOR THEYEARENDED31/07/2024
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

SPYGLASS LIMITED

BALANCE SHEET AT 31/07/2024
20242023
Notes££
FIXED ASSETS
Tangible assets216,36948,195
CURRENT ASSETS
Stock4,58617,170
Debtors41361,245
Cash at bank and in hand2,694626,197
7,416644,612
CREDITORS: Amounts falling due within one year5158,734824,182
NET CURRENT LIABILITIES(151,318)(179,570)
TOTAL ASSETS LESS CURRENT LIABILITIES(134,949)(131,375)
CREDITORS: Amounts falling due after more than one year614,28121,583
NET LIABILITIES(149,230)(152,958)
CAPITAL AND RESERVES
Called up share capital811
Profit and loss account(149,231)(152,959)
SHAREHOLDERS' FUNDS(149,230)(152,958)
For the year ending 31/07/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 15/04/2025 and signed on their behalf by
.............................
MS KATIE BERKELEY
Director

SPYGLASS LIMITED

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/07/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Short Leasehold Propertiesstraight line OVER LIFE OF LEASE - 7 YEARS%
Fixtures and Fittingsreducing balance 20%
Equipmentreducing balance 10%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

SPYGLASS LIMITED

2. TANGIBLE FIXED ASSETS
Short LeaseholdFixtures
Propertiesand FittingsEquipmentTotal
££££
Cost
At 01/08/202387,50915,15618,605121,270
At 31/07/202487,50915,15618,605121,270
Depreciation
At 01/08/202357,94411,1833,94873,075
For the year29,5657951,46631,826
At 31/07/202487,50911,9785,414104,901
Net Book Amounts
At 31/07/2024-3,17813,19116,369
At 31/07/202329,5653,97314,65748,195
3. STOCK 20242023
££
Stock comprises:
Stock4,58617,170
4,58617,170
4. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors136136
PAYE control-126
Prepayments-983
1361,245

SPYGLASS LIMITED

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
VAT2,325733
PAYE control396-
Salaries and wages control23-
Directors current account79,404816,482
Loans66,724-
Credit card6,8524,538
Trade creditors3,0102,429
158,734824,182
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Bank loans (secured) >1yr14,28121,583
14,28121,583
7. EMPLOYEES
20242023
No.No.
Average number of employees24
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
1 Class 1 shares of £1 each11
11