REGISTERED NUMBER: 09849863 (England and Wales)

SPENCER STUART LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J S Gilbrook

J J Gilbrook

REGISTERED OFFICE:

12 Fratton Road

Portsmouth

Hampshire

PO1 5BX

REGISTERED NUMBER:

09849863 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

North Street

Havant

Hampshire

PO9 1QU

FIXED ASSETS

Investments

4

50

50

CURRENT ASSETS

Debtors

5

1,081,203

909,603

Cash at bank

17,007

61,484

1,098,210

971,087

CREDITORS

Amounts falling due within one year

6

158,572

155,572

NET CURRENT ASSETS

939,638

815,515

TOTAL ASSETS LESS CURRENT LIABILITIES

939,688

815,565

CREDITORS

Amounts falling due after more than one year

7

837,330

711,330

NET ASSETS

102,358

104,235

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

102,258

104,135

SHAREHOLDERS' FUNDS

102,358

104,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2025 and were signed on its behalf by:

J S Gilbrook - Director

1.	STATUTORY INFORMATION

Spencer Stuart 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.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other 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 are measured subsequently at amortised cost using the effective interest method

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2024 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 March 2024

and 28 February 2025

50

NET BOOK VALUE

At 28 February 2025

50

At 29 February 2024

50

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Associated company

Innosonian Europe Limited

Registered office:

Nature of business:

%

Class of shares:

holding

Ordinary £1

50.00

30.4.24

30.4.23

£

£

Aggregate capital and reserves

6,644

199,778

(Loss)/profit for the year

(193,134

)

30,930

5.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Corporation tax recoverable

62,700

-

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,018,503

909,603

Aggregate amounts

1,081,203

909,603

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

3,120

-

Other creditors

49,050

49,050

Directors' current accounts

103,403

103,403

Accrued expenses

2,999

3,119

158,572

155,572

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

837,330

711,330

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

10,000

ORDINARY

1p

100

100

9.

RESERVES

Retained

earnings

£

At 1 March 2024

104,135

Deficit for the year

(1,877

)

At 28 February 2025

102,258

10.	RELATED PARTY DISCLOSURES

As at 28 February 2025 the company was owed £117,053 from Innosonian Europe Limited in which it owns 50% of the issued share capital and in which Mr J Gilbrook is a director. (2024 - £117,053)

As at 28 February 2025 the company owed £837,330 to Wel Medical Limited in which it owned 100% of the share capital until 10 March 2020. (2024 - £711,330)

As at 28 February 2025 the company was owed £901,450 from Torrington Town Mill Limited which is owned jointly by the directors. (2024 - £792,550)

11.	ULTIMATE CONTROLLING PARTY

The company is owned by Canabeb Limited, which is under the joint control of Mr & Mrs J Gilbrook.