M.B.Spencer Limited 05913629 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is The provision of services to the aeronautical industry Digita Accounts Production Advanced 6.30.9574.0 true 05913629 2023-09-01 2024-08-31 05913629 2024-08-31 05913629 core:RetainedEarningsAccumulatedLosses 2024-08-31 05913629 core:ShareCapital 2024-08-31 05913629 core:CurrentFinancialInstruments 2024-08-31 05913629 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 05913629 core:FurnitureFittings 2024-08-31 05913629 bus:SmallEntities 2023-09-01 2024-08-31 05913629 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05913629 bus:FilletedAccounts 2023-09-01 2024-08-31 05913629 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05913629 bus:RegisteredOffice 2023-09-01 2024-08-31 05913629 bus:Director2 2023-09-01 2024-08-31 05913629 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05913629 core:FurnitureFittings 2023-09-01 2024-08-31 05913629 countries:EnglandWales 2023-09-01 2024-08-31 05913629 2023-08-31 05913629 core:FurnitureFittings 2023-08-31 05913629 2022-09-01 2023-08-31 05913629 2023-08-31 05913629 core:RetainedEarningsAccumulatedLosses 2023-08-31 05913629 core:ShareCapital 2023-08-31 05913629 core:CurrentFinancialInstruments 2023-08-31 05913629 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 05913629 core:FurnitureFittings 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 05913629

M.B.Spencer Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 August 2024

 

M.B.Spencer Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

M.B.Spencer Limited

(Registration number: 05913629)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

33

44

Current assets

 

Debtors

5

609

-

Cash at bank and in hand

 

74,399

81,539

 

75,008

81,539

Creditors: Amounts falling due within one year

6

(2,010)

(5,047)

Net current assets

 

72,998

76,492

Net assets

 

73,031

76,536

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

73,029

76,534

Shareholders' funds

 

73,031

76,536

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 15 April 2025 and signed on its behalf by:
 

.........................................
Mr M B Spencer
Director

 

M.B.Spencer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: 18 Wasdale Close, Owlsmoor, Sandhurst, Berkshire, GU47 0YQ.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

M.B.Spencer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

M.B.Spencer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 September 2023

450

450

At 31 August 2024

450

450

Depreciation

At 1 September 2023

406

406

Charge for the year

11

11

At 31 August 2024

417

417

Carrying amount

At 31 August 2024

33

33

At 31 August 2023

44

44

5

Debtors

2024
£

2023
£

Other debtors

609

-

609

-

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Taxation and social security

80

2,997

Accruals and deferred income

1,650

1,770

Other creditors

280

280

2,010

5,047