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Registration number: 10414596

Spectrum48 Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Spectrum48 Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Spectrum48 Limited

Company Information

Director

P Sinclair

Registered office

Highlands
Gwel-An-Mor
Mawgan Porth
Cornwall
TR8 4DW

Accountants

Burton Sweet Limited
Chartered Accountants & Business Advisors
The Clock Tower
5 Farleigh Court
Old Weston Road
Flax Bourton
Bristol
BS48 1UR

 

Spectrum48 Limited

(Registration number: 10414596)
Balance Sheet
31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,319

1,911

Current assets

 

Debtors

5

5,095

-

Cash at bank and in hand

 

2,016

-

 

7,111

-

Creditors: Amounts falling due within one year

6

(25,584)

(15,130)

Net current liabilities

 

(18,473)

(15,130)

Net liabilities

 

(16,154)

(13,219)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(16,155)

(13,220)

Shareholders' deficit

 

(16,154)

(13,219)

 

Spectrum48 Limited

(Registration number: 10414596)
Balance Sheet
31 October 2024

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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been 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 28 July 2025
 

.........................................
P Sinclair
Director

 

Spectrum48 Limited

Notes to the Unaudited Financial Statements
Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
Highlands
Gwel-An-Mor
Mawgan Porth
Cornwall
TR8 4DW

These financial statements were authorised for issue by the director on 28 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.

Going concern

The directors have a reasonable expectation that the company has sufficient resources to continue for the foreseeable future. The accounts have been prepared on a going concern basis.

 

Spectrum48 Limited

Notes to the Unaudited Financial Statements
Year Ended 31 October 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for provision of services in the ordinary course of the company’s activities.

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.

The current corporation 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

Office equipment

20% reducing balance

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.

 

Spectrum48 Limited

Notes to the Unaudited Financial Statements
Year Ended 31 October 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Spectrum48 Limited

Notes to the Unaudited Financial Statements
Year Ended 31 October 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 November 2023

4,656

4,656

Additions

990

990

At 31 October 2024

5,646

5,646

Depreciation

At 1 November 2023

2,745

2,745

Charge for the year

582

582

At 31 October 2024

3,327

3,327

Carrying amount

At 31 October 2024

2,319

2,319

At 31 October 2023

1,911

1,911

5

Debtors

2024
£

2023
£

Other debtors

5,095

-

5,095

-

 

Spectrum48 Limited

Notes to the Unaudited Financial Statements
Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

-

189

Trade creditors

 

480

-

Taxation and social security

 

-

3,643

Accruals and deferred income

 

1,040

840

Other creditors

 

24,064

10,458

 

25,584

15,130

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

189