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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
Page
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Spec Builders Limited Company Information for the year ended 31 October 2024
Director
M C Sharp
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
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Spec Builders Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
41,782 
55,709 
Current assets
Debtors
- 
1,538 
Cash at bank and in hand
134,534 
199,158 
134,534 
200,696 
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 
Capital and reserves
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
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Spec Builders Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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 taxation
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.
Leased assets
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.
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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 
Depreciation
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 
Net book value
At 31 October 2024
41,782 
- 
41,782 
At 31 October 2023
55,709 
- 
55,709 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,538 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
6,002 
- 
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 
Accruals
1,325 
1,260 
34,391 
88,800 
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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