W. Spice Procurement Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07790204 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

W. SPICE PROCUREMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

W E Spice

REGISTERED OFFICE:

45 Queen Street

Deal

Kent

CT14 6EY

REGISTERED NUMBER:

07790204 (England and Wales)

ACCOUNTANTS:

Higson & Co (Deal) Ltd

45 Queen Street

Deal

Kent

CT14 6EY

FIXED ASSETS

Tangible assets

4

2,569

2,642

CURRENT ASSETS

Debtors

5

3,899

42,384

Cash at bank

49,168

25,771

53,067

68,155

CREDITORS

Amounts falling due within one year

6

45,726

29,896

NET CURRENT ASSETS

7,341

38,259

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,910

40,901

PROVISIONS FOR LIABILITIES

7

348

453

NET ASSETS

9,562

40,448

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

9,462

40,348

SHAREHOLDERS' FUNDS

9,562

40,448

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 September 2025 and were signed by:

W E Spice - Director

1.	STATUTORY INFORMATION

W. Spice Procurement Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The Financial Statements are presented in round pounds sterling £.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents invoiced sales, net of value added tax, which are only recognised when the services have been provided

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

It is the policy of the Company to review Tangible Fixed Assets for impairment annually.

The Company capitalises items with an estimated useful life in excess of three years, and for values in excess of £150.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 October 2023

1,724

1,099

4,000

432

7,255

Additions

-

815

At 30 September 2024

1,724

1,099

4,000

1,247

8,070

DEPRECIATION

At 1 October 2023

1,123

864

2,453

173

4,613

Charge for year

120

47

387

334

888

At 30 September 2024

1,243

911

2,840

507

5,501

NET BOOK VALUE

At 30 September 2024

481

188

1,160

740

2,569

At 30 September 2023

601

235

1,547

259

2,642

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

-

15,600

Other debtors

1,549

2,244

Directors' current accounts

-

24,142

Tax

988

398

VAT

251

-

Prepayments

1,111

-

3,899

42,384

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

1,236

156

Tax

16,328

24,895

Wages payable

1,253

-

VAT

-

3,175

Directors' current accounts

25,991

-

Accrued expenses

918

1,670

45,726

29,896

7.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

348

453

Deferred

tax

£

Balance at 1 October 2023

453

Provided during year

(105

)

Balance at 30 September 2024

348

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

£1

100

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Directors Loan Account

A Member of Key Management Personnel

The following Directors loans subsisted during the year;

During the year, the Director advanced the Company £50,353 (2023: £312)

During the year the Company repaid the Director £220 (2023: £22,630)

As at 30 September 2024 the Company owes the Director £25,991 (2023: Director owed the Company £24,142)

The loan is repayable on demand.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2024 set out on pages one to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Higson & Co (Deal) Ltd

45 Queen Street

Deal

Kent

CT14 6EY

Date: .............................................