Spear Financial Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06503284

Spear Financial Limited

Filleted Unaudited Financial Statements

28 February 2025

Spear Financial Limited

Financial Statements

Year ended 28 February 2025

Contents	Pages

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 6

Spear Financial Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Spear Financial Limited

Year ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spear Financial Limited for the year ended 28 February 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Spear Financial Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Spear Financial Limited and state those matters that we have agreed to state them, as a body, in this report in accordance with AAF 02/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spear Financial Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Spear Financial Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Spear Financial Limited. You consider that Spear Financial Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Spear Financial Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HEBBLETHWAITES Chartered Accountants

2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ

17 September 2025

Spear Financial Limited

Statement of Financial Position

28 February 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	6,703	5,949

Current assets

Debtors	6	8,029	7,859
Cash at bank and in hand		185,538	134,918
		---------	---------
		193,567	142,777

Creditors: amounts falling due within one year	7	24,095	17,449
		---------	---------
Net current assets		169,472	125,328
		---------	---------
Total assets less current liabilities		176,175	131,277

Provisions

Taxation including deferred tax	1,274	1,130
	---------	---------
Net assets	174,901	130,147
	---------	---------

Spear Financial Limited

Statement of Financial Position (continued)

28 February 2025

	2025	2024
Note	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	174,801	130,047
	---------	---------
Shareholders funds	174,901	130,147
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2025 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 15 September 2025 , and are signed on behalf of the board by:

Mr C J Spear

Director

Company registration number: 06503284

Spear Financial Limited

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Broome's Barns, Pilsley Lane, Pilsley, Bakewell, Derbyshire, DE45 1PF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Commissions

The company accounts for commissions when receivable in terms of business written in the period. Indemnity commissions are paid to the company resulting in the possibility of commission clawback in cases where sums have been received and premiums are not subsequently paid by the policyholder. No provision is made for any such unquantifiable clawback.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. In the opinion of management, there are no judgements or key sources of estimation uncertainty that have a significant impact on the financial statements, other than those stated below.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered. The turnover, as reflected in the Income Statement includes, for new business, that written in the period and for renewal or fund based business, that received in the period.

Taxation

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less ) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% straight line

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2024: 5 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 March 2024	33,042	33,042
Additions	5,650	5,650
	--------	--------
At 28 February 2025	38,692	38,692
	--------	--------
Depreciation
At 1 March 2024	27,093	27,093
Charge for the year	4,896	4,896
	--------	--------
At 28 February 2025	31,989	31,989
	--------	--------
Carrying amount
At 28 February 2025	6,703	6,703
	--------	--------
At 29 February 2024	5,949	5,949
	--------	--------

6. Debtors

	2025	2024
	£	£
Other debtors	8,029	7,859
	-------	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	12,068	5,418
Social security and other taxes	6,830	6,806
Other creditors	5,197	5,225
	--------	--------
	24,095	17,449
	--------	--------

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	4,951	–
Later than 1 year and not later than 5 years	–	19,805
	-------	--------
	4,951	19,805
	-------	--------