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Registration number: 09827341

Spencer & Fry Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Spencer & Fry Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Spencer & Fry Ltd

Company Information

Director

Mrs Claire Elisabeth Fry

Registered office

5 Warwick Road
St Albans
Hertfordshire
AL1 4DJ

Accountants

Re:Accounts Limited
Chartered Accountants12 Stanmore Road
Stevenage
Hertfordshire
SG1 3QF

 

Spencer & Fry Ltd

(Registration number: 09827341)
Balance Sheet as at 31 October 2024

Note

31 October
2024
£

31 October
2023
£

Fixed assets

 

Tangible assets

4

3,715

4,376

Current assets

 

Debtors

5

67,418

80,793

Cash at bank and in hand

 

106,045

73,461

 

173,463

154,254

Creditors: Amounts falling due within one year

6

(123,142)

(111,864)

Net current assets

 

50,321

42,390

Net assets

 

54,036

46,766

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

53,936

46,666

Shareholders' funds

 

54,036

46,766

For the financial 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.

Director's 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; and

The director acknowledges her responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 July 2025
 

.........................................
Mrs Claire Elisabeth Fry
Director

 

Spencer & Fry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
5 Warwick Road
St Albans
Hertfordshire
AL1 4DJ
United Kingdom

These financial statements were authorised for issue by the director on 4 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation and functional currency of the company is sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Spencer & Fry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% straight line

Computer equipment

25% straight line

Office equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Spencer & Fry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 8).

 

Spencer & Fry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

16,289

3,161

19,450

Additions

1,366

-

1,366

At 31 October 2024

17,655

3,161

20,816

Depreciation

At 1 November 2023

12,813

3,161

15,974

Charge for the year

1,127

-

1,127

At 31 October 2024

13,940

3,161

17,101

Carrying amount

At 31 October 2024

3,715

-

3,715

At 31 October 2023

4,376

-

4,376

5

Debtors

Current

31 October
2024
£

31 October
2023
£

Trade debtors

47,309

18,411

Prepayments

1,152

26,352

Other debtors

18,957

36,030

 

67,418

80,793

 

Spencer & Fry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

31 October
2024
£

31 October
2023
£

Due within one year

Trade creditors

1,061

9,441

Taxation and social security

60,195

25,472

Accruals and deferred income

1,760

1,600

Other creditors

60,126

75,351

123,142

111,864

7

Share capital

Allotted, called up and fully paid shares

31 October
2024

31 October
2023

No.

£

No.

£

A Ordinary of £1 each

80

80

80

80

B Ordinary of £1 each

20

20

20

20

100

100

100

100

 

Spencer & Fry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

8

Dividends

Final dividends paid

31 October
2024
£

31 October
2023
£

Final dividend of £462.50 (2023 - £480.00) per each A Ordinary

37,000

38,400

Final dividend of £462.50 (2023 - £480.00) per each B Ordinary

9,250

9,600

46,250

48,000

Interim dividends paid

31 October
2024
£

31 October
2023
£

Interim dividend of £80.00 (2023 - £160.00) per each A Ordinary

6,400

12,800

Interim dividend of £80.00 (2023 - £160.00) per each B Ordinary

1,600

3,200

8,000

16,000

9

Related party transactions

Included within creditors was £56,775 (2023; £72,408) owed to the director and her husband. The loan was interest free with no fixed date for repayment.

Both the director and her husband confirm that they do not intend to withdraw the loan until the company has sufficient working capital to continue without the loans.

 

Spencer & Fry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

9

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,500

12,500