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Registered Number: 11504128
England and Wales

 

 

 

SPECTRUM WAY LTD



Abridged Accounts
 


Period of accounts

Start date: 01 September 2023

End date: 28 February 2025
Report to the directors on the preparation of the unaudited statutory accounts of SPECTRUM WAY LTD for the year ended 28 February 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SPECTRUM WAY LTD for the year ended 28 February 2025 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of SPECTRUM WAY LTD, as a body, in accordance with the terms of our engagement letter dated 28 May 2025. Our work has been undertaken solely to prepare for your approval the accounts of SPECTRUM WAY LTD and state those matters that we have agreed to state to the Board of Directors of SPECTRUM WAY LTD, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SPECTRUM WAY LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SPECTRUM WAY LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of SPECTRUM WAY LTD.You consider that SPECTRUM WAY LTD is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit of the accounts of SPECTRUM WAY LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 28 February 2025.



....................................................

Pro Accounting Office Ltd

8 Jura Way
Birmingham
B36 0QJ
28 May 2025
1
 
 
Notes
 
2025
£
  2023
£
Fixed assets      
Intangible fixed assets 3 2,859    3,880 
Tangible fixed assets 4 3,220    1,660 
6,079    5,540 
Current assets      
Debtors 301    8,470 
Cash at bank and in hand 15,325    7,737 
15,626    16,207 
Creditors: amount falling due within one year (2,018)   (785)
Net current assets 13,608    15,422 
 
Total assets less current liabilities 19,687    20,962 
Creditors: amount falling due after more than one year (3,480)   (27,625)
Provisions for liabilities (200)   (36)
Net assets 16,007    (6,699)
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 15,907    (6,799)
Shareholders' funds 16,007    (6,699)
 


For the period ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 May 2025 and were signed by:


-------------------------------
Krzysztof Grzelak
Director
2
General Information
SPECTRUM WAY LTD is a private company, limited by shares, registered in England and Wales, registration number 11504128, registration address 126 CHERWELL BUSINESS VILLAGE, SOUTHAM ROAD , BANBURY, OX16 2SP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 4 Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 1 (2023 : 1).
3.

Intangible fixed assets

Cost Software License   Total
  £   £
At 01 September 2023 6,288    6,288 
Additions 2,000    2,000 
Disposals  
At 28 February 2025 8,288    8,288 
Amortisation
At 01 September 2023 2,408    2,408 
Charge for period 3,021    3,021 
On disposals  
At 28 February 2025 5,429    5,429 
Net book values
At 28 February 2025 2,859    2,859 
At 31 August 2023 3,880    3,880 


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 September 2023 3,229    3,229 
Additions 2,655    2,655 
Disposals  
At 28 February 2025 5,884    5,884 
Depreciation
At 01 September 2023 1,569    1,569 
Charge for period 1,095    1,095 
On disposals  
At 28 February 2025 2,664    2,664 
Net book values
Closing balance as at 28 February 2025 3,220    3,220 
Opening balance as at 01 September 2023 1,660    1,660 


5.

Share Capital

Allotted, called up and fully paid
2025
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3