Company registration number 09307357 (England and Wales)
SPICER AND YARWOOD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
SPICER AND YARWOOD LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SPICER AND YARWOOD LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,042
12,242
Current assets
Debtors
6
5,435
6,820
Investments
5
52,159
Cash at bank and in hand
210,662
122,932
216,097
181,911
Creditors: amounts falling due within one year
7
(81,143)
(58,941)
Net current assets
134,954
122,970
Total assets less current liabilities
135,996
135,212
Provisions for liabilities
(3,054)
Net assets
135,996
132,158
Capital and reserves
Called up share capital
8
10,000
10,000
Capital redemption reserve
10,000
10,000
Revaluation reserve
9
4,344
Distributable profit and loss reserves
115,996
107,814
Total equity
135,996
132,158
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
SPICER AND YARWOOD LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 12 May 2025
Mr RJ Spicer
Director
Company Registration No. 09307357
SPICER AND YARWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information
Spicer and Yarwood Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1A Ashley Way, Market Harborough, Leicestershire, LE16 7XD.
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 certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the gross amount receivable in respect of fees, charges and commissions for investment advice given and policies sold during the year.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on cost
Motor vehicles
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
Investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
1.5
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.
SPICER AND YARWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.7
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
5
5
3
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Depreciation - owned assets
11,200
12,342
SPICER AND YARWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
4
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2024 and 31 March 2025
16,372
40,389
56,761
Depreciation and impairment
At 1 April 2024
13,387
31,132
44,519
Depreciation charged in the year
1,943
9,257
11,200
At 31 March 2025
15,330
40,389
55,719
Carrying amount
At 31 March 2025
1,042
1,042
At 31 March 2024
2,985
9,257
12,242
5
Current asset investments
2025
2024
£
£
Other investments
52,159
The fair value of all listed investments is taken to be the open market value on an active stock market.
Duirng the year, the company disposed of the investment portfolio. Realised gains of £11 have been reported through profit and loss.
The balance of £4,344 brought forwards on the revaluation reserve are considered realised and have been transferred to distributable reserves.
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
8
2,736
Prepayments
5,427
4,084
5,435
6,820
SPICER AND YARWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,007
896
Tax
21,301
12,708
Social security and other taxes
110
1,310
Directors' loan accounts
54,471
40,071
Mayday Financial Services Ltd
1
1
Accruals
4,253
3,955
81,143
58,941
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A shares of £1.00 of £1 each
5,100
5,100
5,100
5,100
B shares of £1.00 of £1 each
4,900
4,900
4,900
4,900
10,000
10,000
10,000
10,000
9
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the year
4,344
(252)
Non distributable profits in the year
-
4,596
Transfer of non-distributable profits relating to prior periods
(4,344)
-
At the end of the year
-
4,344