SPI North Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07212580

SPI NORTH LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

SPI NORTH LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

CURRENT ASSETS

Debtors	4	97,566	37,942
Cash at bank and in hand		41,941	120,709
		----------	----------
		139,507	158,651

CREDITORS: amounts falling due within one year	5	87,062		40,721
		----------		----------
NET CURRENT ASSETS			52,445		117,930
			---------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			52,445		117,930

CREDITORS: amounts falling due after more than one year	6	1,667	11,667
		---------	----------
NET ASSETS		50,778	106,263
		---------	----------

SPI NORTH LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

	2025		2024
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	7	50	50
Capital redemption reserve		50	50
Profit and loss account		50,678	106,163
		---------	----------
SHAREHOLDERS FUNDS		50,778	106,263
		---------	----------

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 comprehensive income has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 19 December 2025 , and are signed on behalf of the board by:

Mr N J Hall
Director

Company registration number: 07212580

SPI NORTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 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 Unit 23 Bowers Mill, Branch Road, Barkisland, HALIFAX, HX4 0AD.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current and deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

4. DEBTORS

	2025	2024
	£	£
Trade debtors	91,260	27,402
Corporation tax repayable	4,804	10,269
Other debtors	1,502	271
	---------	---------
	97,566	37,942
	---------	---------

5. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	578	548
Accruals and deferred income	74,474	13,672
Director loan accounts	419	16,501
Other creditors	1,591	–
	---------	---------
	87,062	40,721
	---------	---------

6. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	1,667	11,667
	-------	---------

7. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	50	50	50	50
	----	----	----	----

During the prior year the company repurchased 50 Ordinary shares .

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, none of the directors had any loans outstanding with the company .

9. RELATED PARTY TRANSACTIONS

Arctic Media Ltd and SPI North Ltd have the same Directors and Shareholders. Arctic Media Ltd is registered in England company number 03898917. Sales from Arctic Media Ltd to SPI North Ltd amounted to £38,909 (2024 - £307,485). On the 31 March 2025 SPI North Ltd owed Arctic Media Ltd £1,591 (2024 - £3,666). A management charge of £73,000 (2024 - £61,000) was made by Arctic Media Ltd to SPI North Ltd.