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Registration number: 10315234

Spencers Consultants Limited

Director's Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Spencers Consultants Limited

(Registration number: 10315234)

Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Investment property

3

145,000

145,000

Current assets

 

Debtors

4

385,076

800,864

Cash at bank and in hand

 

5,363

15,616

 

390,439

816,480

Creditors: Amounts falling due within one year

5

(62,842)

(508,089)

Net current assets

 

327,597

308,391

Total assets less current liabilities

 

472,597

453,391

Creditors: Amounts falling due after more than one year

5

(81,528)

(84,026)

Provisions for liabilities

(2,851)

(2,851)

Net assets

 

388,218

366,514

Capital and reserves

 

Called up share capital

100

100

Retained earnings

388,118

366,414

Shareholders' funds

 

388,218

366,514

For the financial year ending 31 March 2025 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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 22 July 2025
 

.........................................

N J Spencer

Director

 

Spencers Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

Accounting policies

Statutory information

Spencers Consultants Limited is a private company, limited by shares, domiciled in England and Wales, company number 10315234. The registered office is at 469 Ecclesall Road, Sheffield, S11 8PP.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Going concern

After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the delivery of services or for the rental of the company's investment properties. Revenue is recognised upon delivery of services or on a straight line basis over the lease terms.

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 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Spencers Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

1

Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 0).

3

Investment property

Fair value
£

Valuation

At 1 April 2024

145,000

At 31 March 2025

145,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director at the year end. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4

Debtors

2025
£

2024
£

Trade debtors

22,000

-

Prepayments

600

-

Other debtors

362,476

800,864

 

385,076

800,864

 

Spencers Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

5

Creditors

2025
£

2024
£

Due within one year

Loans and borrowings

2,517

2,532

Taxation and social security

6,125

522

Accruals and deferred income

1,800

2,535

Other creditors

52,400

502,500

62,842

508,089

2025
£

2024
£

Due after one year

Loans and borrowings

81,528

84,026

The bank borrowings are secured by a fixed charge over the company's assets.

6

Related party transactions

During the year the company has provided an interest free loan to Mamamaru Ltd, a company in which the director N J Spencer is a director and shareholder. The amout due from the company at the balance sheet date was £362,476.

During the year, the director N J Spencer had an interest free loan account with the company. At the balance sheet date, the amount due from the company was £52,400 (2024: £100 due to the company).