Company Registration No. 04918271 (England and Wales)
Spec Builders Limited
Unaudited accounts
for the year ended 31 October 2024
Spec Builders Limited
Unaudited accounts
Contents
Spec Builders Limited
Company Information
for the year ended 31 October 2024
Company Number
04918271 (England and Wales)
Registered Office
2-3 Stable Court
Herriard Park
Herriard
Hampshire
RG25 2PL
Accountants
Black & White Chartered Certified Accountants
2-3 Stable Court
Herriard Park
Herriard
Hampshire
RG25 2PL
Spec Builders Limited
Statement of financial position
as at 31 October 2024
Tangible assets
41,782
55,709
Cash at bank and in hand
134,534
199,158
Creditors: amounts falling due within one year
(34,391)
(88,800)
Net current assets
100,143
111,896
Total assets less current liabilities
141,925
167,605
Provisions for liabilities
Deferred tax
(6,161)
(6,161)
Net assets
135,764
161,444
Called up share capital
100
100
Profit and loss account
135,664
161,344
Shareholders' funds
135,764
161,444
For the year ending 31 October 2024 the company was entitled to exemption from audit 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 March 2025 and were signed on its behalf by
M C Sharp
Director
Company Registration No. 04918271
Spec Builders Limited
Notes to the Accounts
for the year ended 31 October 2024
Spec Builders Limited is a private company, limited by shares, registered in England and Wales, registration number 04918271. The registered office is 2-3 Stable Court, Herriard Park, Herriard, Hampshire, RG25 2PL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Computer equipment
33.3% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Spec Builders Limited
Notes to the Accounts
for the year ended 31 October 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2023
149,776
1,683
151,459
At 31 October 2024
149,776
1,683
151,459
At 1 November 2023
94,067
1,683
95,750
Charge for the year
13,927
-
13,927
At 31 October 2024
107,994
1,683
109,677
At 31 October 2024
41,782
-
41,782
At 31 October 2023
55,709
-
55,709
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
2,378
6,020
Trade creditors
18,161
18,174
Taxes and social security
(341)
341
Loans from directors
6,866
63,005
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).