Registration number: 06769226

Spot Reels Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

Spot Reels Ltd

Company Information

Directors

JA Stone J Dyer

Registered office

Little Springs Henham Bishops Stortford Hertfordshire CM22 6AZ

Accountants

Mansell & Co Chartered Certified Accountants5 Ducketts Wharf South Street Bishop Stortford Hertfordshire CM23 3AR

Spot Reels Ltd

(Registration number: 06769226)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	13,691	11,945
Current assets
Debtors	5	1,726	10,723
Cash at bank and in hand		37,536	101,821
		39,262	112,544
Creditors: Amounts falling due within one year	6	(52,778)	(131,786)
Net current liabilities		(13,516)	(19,242)
Net assets/(liabilities)		175	(7,297)
Capital and reserves
Called up share capital	7	100	100
Retained earnings		75	(7,397)
Shareholders' funds/(deficit)		175	(7,297)

For the financial year ending 31 December 2024 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge 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 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

......................................... JA Stone Director

......................................... J Dyer Director

Spot Reels Ltd

Notes to the Financial Statements for the Year Ended 31 December 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:
Little Springs
Henham
Bishops Stortford
Hertfordshire
CM22 6AZ
United Kingdom

These financial statements were authorised for issue by the Board on 29 September 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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Spot Reels Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

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
Computer equipment	25% straight line basis
Equipment	25% reducing balance basis

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.

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.

Spot Reels Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

3	Staff numbers

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

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 January 2024	25,398	25,398
Additions	7,337	7,337
Disposals	(1,663)	(1,663)
At 31 December 2024	31,072	31,072
Depreciation
At 1 January 2024	13,453	13,453
Charge for the year	5,415	5,415
Eliminated on disposal	(1,487)	(1,487)
At 31 December 2024	17,381	17,381
Carrying amount
At 31 December 2024	13,691	13,691
At 31 December 2023	11,945	11,945

5

Debtors

Current	2024 £	2023 £
Trade debtors	-	5,400
Prepayments	28	24
Other debtors	1,698	5,299
	1,726	10,723

Spot Reels Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		1,050	-
Amounts owed to group undertakings and undertakings in which the company has a participating interest		52,617	130,834
Taxation and social security		-	845
Accruals and deferred income		(889)	107
		52,778	131,786