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Registered Number: 09716135
England and Wales
SP ENTERPRISES (BRISTOL) LTD
Unaudited Financial Statements
Period of accounts Start date: 01 September 2023 End date: 31 August 2024

SP ENTERPRISES (BRISTOL) LTD Contents Page For the year ended 31 August 2024
Company information | 1
Balance sheet | 2
Notes to the financial statements | 3

SP ENTERPRISES (BRISTOL) LTD Company Information For the year ended 31 August 2024
Directors | Marios KYRIACOU Mr Christakis Kyriacou
Registered Number | 09716135
Registered Office | First Floor, Hagley Court 40 Vicarage Road, Edgbaston Birmingham United Kingdom B15 3EZ
Accountants | Marneros Marcus & Co Limited First Floor, Hagley Court 40 Vicarage Road Edgbaston Birmingham B15 3EZ
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Registered Number: 09716135 SP ENTERPRISES (BRISTOL) LTD Balance Sheet As at 31 August 2024
| Notes | 2024 £ |  | 2023 £
--- | --- | --- | --- | ---
Fixed assets |  |  |
Tangible fixed assets | 3 | - |  | 260,154
|  | - |  | 260,154
Current assets |  |  |
Stocks | 4 | - |  | 4,020
Debtors | 5 | 73,342 |  | 3,037
Cash at bank and in hand |  | 2,956 |  | 2,977
|  | 76,298 |  | 10,034
Creditors: amount falling due within one year | 6 | (168,010) |  | (340,603)
Net current assets |  | (91,712) |  | (330,569)
Total assets less current liabilities |  | (91,712) |  | (70,415)
Creditors: amount falling due after more than one year | 7 | (12,856) |  | (20,897)
Net assets |  | (104,568) |  | (91,312)
Capital and reserves |  |  |
Called up share capital |  | 100 |  | 100
Profit and loss account |  | (104,668) |  | (91,412)
Shareholders' funds |  | (104,568) |  | (91,312)
For the year ended 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. The directors acknowledge 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 profit and loss account has not been delivered to the Registrar of Companies. The financial statements were approved by the board of directors on 18 October 2024 and were signed on its behalf by:
------------------------------- Mr Christakis Kyriacou Director
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SP ENTERPRISES (BRISTOL) LTD Notes to the Financial Statements For the year ended 31 August 2024
General Information SP ENTERPRISES (BRISTOL) LTD is a private company, limited by shares, registered in England and Wales, registration number 09716135, registration address First Floor, Hagley Court, 40 Vicarage Road, Edgbaston, Birmingham, United Kingdom, B15 3EZ. 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. Going concern basis The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. 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 profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. Operating lease rentals Rentals payable under operating leases are charged against income on a straight line basis over the lease term. Finance lease and hire purchase charges The finance element of the rental payment is charged to the profit and loss account on a straight line basis. 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 Deferred taxation Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Current and deferred tax assets and liabilities are not discounted. Dividends Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date. Intangible assets Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. 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:
Motor Vehicles | 20% Straight Line
Fixtures and Fittings | 10% Straight Line
Assets on finance lease and hire purchase Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives. Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2. | Average number of employees Average number of employees during the year was 11 (2023 : 11).
3. | Tangible fixed assets
Cost or valuation | Motor Vehicles |  | Fixtures and Fittings |  | Improvements to property |  | Total
| £ |  | £ |  | £ |  | £
At 01 September 2023 | 5,846 |  | 167,157 |  | 136,913 |  | 309,916
Additions | - |  | 1,037 |  | - |  | 1,037
Disposals | (5,846) |  | (168,194) |  | (136,913) |  | (310,953)
At 31 August 2024 | - |  | - |  | - |  | -
Depreciation
At 01 September 2023 | 1,829 |  | 47,933 |  | - |  | 49,762
Charge for year | - |  | - |  | - |  | -
On disposals | (1,829) |  | (47,933) |  | - |  | (49,762)
At 31 August 2024 | - |  | - |  | - |  | -
Net book values
Closing balance as at 31 August 2024 | - |  | - |  | - |  | -
Opening balance as at 01 September 2023 | 4,017 |  | 119,224 |  | 136,913 |  | 260,154
4. | Stocks
| 2024 £ |  | 2023 £
--- | --- | --- | ---
Finished Goods | - |  | 4,020
| - |  | 4,020
5. | Debtors: amounts falling due within one year
| 2024 £ |  | 2023 £
--- | --- | --- | ---
Other Debtors | 71,644 |  | -
| 71,644 |  | -
5. | Debtors: amounts falling due after one year
| 2024 £ |  | 2023 £
--- | --- | --- | ---
Prepayments | 1,698 |  | 3,037
| 1,698 |  | 3,037
6. | Creditors: amount falling due within one year
| 2024 £ |  | 2023 £
--- | --- | --- | ---
Trade Creditors | 103,611 |  | 245,255
PAYE & Social Security | 745 |  | 5,457
Accrued Expenses | - |  | 661
Directors' Current Accounts | 37,223 |  | 62,350
VAT | 26,431 |  | 26,880
| 168,010 |  | 340,603
7. | Creditors: amount falling due after more than one year
| 2024 £ |  | 2023 £
--- | --- | --- | ---
Bank Loans & Overdrafts | 12,856 |  | 20,897
| 12,856 |  | 20,897
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