Spires Data Solutions Limited - Filleted accounts


SPIRES DATA SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025

































Company Registration Number: 08992571

SPIRES DATA SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the financial statements									4 to 8

SPIRES DATA SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025


DIRECTOR

M D Powell


SECRETARY

A J Powell


REGISTERED OFFICE

4 Witan Way
Witney
Oxon
OX28 6FF


COMPANY REGISTRATION NUMBER

08992571 England and Wales

SPIRES DATA SOLUTIONS LIMITED

BALANCE SHEET
AS AT 31 MARCH 2025


	Notes	2025		2024
		£		£

FIXED ASSETS
Tangible assets	5		2,971		2,915

CURRENT ASSETS
Debtors	6	7,788		10,569
Cash at bank and in hand		26,862		20,401


		34,650		30,970

CREDITORS: Amounts falling due within one year	7	32,043		32,954
CREDITORS: Amounts falling due within one year


NET CURRENT ASSETS / (LIABILITIES)			2,607		(1,984)


TOTAL ASSETS LESS CURRENT LIABILITIES			5,578		931

Provisions for liabilities and charges			743		729


NET ASSETS			4,835		202


CAPITAL AND RESERVES
Called up share capital			10		10
Distributable profit and loss account			4,825		192


SHAREHOLDERS' FUNDS			4,835		202

SPIRES DATA SOLUTIONS LIMITED

BALANCE SHEET
AS AT 31 MARCH 2025


These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.


Signed on behalf of the board




M D Powell
Director

Date approved by the board: 2 October 2025

SPIRES DATA SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1	GENERAL INFORMATION

	Spires Data Solutions Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:

	4 Witan Way
	Witney
	Oxon
	OX28 6FF

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of computer support services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.

	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.


	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.

	Computer and office equipment					Straight line basis at 33% per annum

	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

SPIRES DATA SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Financial Instruments

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


	Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.


	The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

	Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.


	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

SPIRES DATA SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Leases

	Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.

	Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.

	Taxation

	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.

	Deferred tax is measured using 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.

	Current and deferred tax assets and liabilities are not discounted.

	Foreign currencies

	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

	Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the rate of exchange prevailing at that date. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit or loss.


3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements.

SPIRES DATA SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4	EMPLOYEES

	The average number of persons employed by the company (including the director) during the year was:

		2025		2024
	Average number of employees	1		1


5	TANGIBLE ASSETS		Computer and office equipment
			Computer and office equipment
				£
	Cost
	At 1 April 2024			6,715

	Additions			2,039

	Disposals			(2,177)


	At 31 March 2025			6,577


	Accumulated depreciation and impairments
	At 1 April 2024			3,800

	Charge for year			1,906

	Disposals			(2,100)


	At 31 March 2025			3,606


	Net book value
	At 1 April 2024			2,915


	At 31 March 2025			2,971


6	DEBTORS
		2025		2024
		£		£
	Trade debtors	2,923		6,131
	Prepayments and accrued income	3,995		856
	Other debtors	870		3,582


		7,788		10,569

SPIRES DATA SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


7	CREDITORS: Amounts falling due within one year
					2025	2024
					£	£
	Trade creditors				136	136
	Taxation and social security				28,399	29,924
	Accruals and deferred income				1,500	1,500
	Other creditors				2,008	1,394


					32,043	32,954

8	CONTINGENCIES AND COMMITMENTS

	Other Commitments

	Amounts falling due under operating leases:				2025	2024
					£	£
	In less than one year				7,750	-
	In more than one but less than five years				1,939	-


					9,689	-


9	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

	The following director's advances, credits and guarantees took place during the year:

		Balance at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off or waived	Balance at 31 March 2025
		£	£	£	£	£
	M D Powell	2,712	14,609	17,321	-	-



10	RELATED PARTY TRANSACTIONS

	During the year, the following transactions with related parties took place:

	M D Powell
	Director				2025	2024
					£	£
	Loan from director	The director has made advances to the company which are payable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:			400	-