REGISTERED NUMBER: 07337264 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SPJM ASSOCIATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr S P Masterson

REGISTERED OFFICE:

Southgate Office Village

286A Chase Road

Southgate

London

N14 6HF

REGISTERED NUMBER:

07337264 (England and Wales)

ACCOUNTANTS:

ELM Partners

Chartered Certified Accountants

Southgate Office Village

286a Chase Road

Southgate

London

N14 6HF

FIXED ASSETS

Intangible assets

4

415

518

Tangible assets

5

3,522

5,257

3,937

5,775

CURRENT ASSETS

Debtors

6

3,120

235,803

Cash at bank

210

249

3,330

236,052

CREDITORS

Amounts falling due within one year

7

228,735

215,129

NET CURRENT (LIABILITIES)/ASSETS

(225,405

)

20,923

TOTAL ASSETS LESS CURRENT LIABILITIES

(221,468

)

26,698

CREDITORS

Amounts falling due after more than one year

8

12,214

25,320

NET (LIABILITIES)/ASSETS

(233,682

)

1,378

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(233,782

)

1,278

SHAREHOLDERS' FUNDS

(233,682

)

1,378

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 May 2026 and were signed by:

Mr S P Masterson - Director

1.	STATUTORY INFORMATION

SPJM Associates Ltd 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.

The director has expressed a willingness to support the company. On this basis, it is deemed appropriate by the director that the financial statements are prepared on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance.

Computer equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

1,470

AMORTISATION

At 1 April 2024

952

Charge for year

103

At 31 March 2025

1,055

NET BOOK VALUE

At 31 March 2025

415

At 31 March 2024

518

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

14,020

12,474

26,494

DEPRECIATION

At 1 April 2024

11,644

9,593

21,237

Charge for year

594

1,141

1,735

At 31 March 2025

12,238

10,734

22,972

NET BOOK VALUE

At 31 March 2025

1,782

1,740

3,522

At 31 March 2024

2,376

2,881

5,257

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

3,120

13,260

Amounts owed by connected companies

-

222,543

3,120

235,803

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

20,839

32,936

Trade creditors

7,751

3,895

Tax

25,600

29,524

VAT

46,659

40,392

Other creditors

34,784

33,385

Director's current accounts

90,604

72,497

Accrued expenses

2,498

2,500

228,735

215,129

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

12,214

-

Bank loans - 2-5 years

-

25,320

12,214

25,320

Included in loans is a Coronavirus Business Interruption Loan amounting to £77,000 that was advanced in May 2021. The government has assisted with the fees and interest in the first 12 months. The loan can be repaid at any time before its full term of 5 years. The balance remaining on the loan as at the end of the financial year is £33,053.

9.	RELATED PARTY DISCLOSURES

Included in "Debtors: Amounts falling due within one year" is an amount of £nil (2024: £222,543) due from a company where S P Masterson is a director and has joint control with his spouse. The loan is interest free.During the year, £216,416 due from this company was written off.

Included in "Creditors: Amounts falling due within one year" is an amount of £90,603 (2024: £72,497) due to S P Masterson, director of the company. The loan is interest free.