Company No: 03433308 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	76,933		93,415
		76,933		93,415
Current assets
Stocks	4	100,000		115,000
Debtors	5	355,033		241,705
Investments	6	439,887		422,609
Cash at bank and in hand		603,691		580,859
		1,498,611		1,360,173
Creditors: amounts falling due within one year	7	( 329,183)		( 205,214)
Net current assets		1,169,428		1,154,959
Total assets less current liabilities		1,246,361		1,248,374
Provision for liabilities		( 19,233)		( 23,354)
Net assets		1,227,128		1,225,020
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		1,227,028		1,224,920
Total shareholder's funds		1,227,128		1,225,020

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Spencer-Carter Limited (registered number: 03433308) were approved and authorised for issue by the Board of Directors on 29 June 2026. They were signed on its behalf by:

Mr R M Carter Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Spencer-Carter Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Tregoniggie Industrial Estate, Falmouth, Cornwall, TR11 4SN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery	5 years straight line
Vehicles	4 years straight line
Office equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	16		16

3. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2025	676,670		115,266		145,820		937,756
Additions	0		24,999		0		24,999
Disposals	0		( 18,499)		0		( 18,499)
At 31 March 2026	676,670		121,766		145,820		944,256
Accumulated depreciation
At 01 April 2025	645,435		54,949		143,957		844,341
Charge for the financial year	15,973		24,712		796		41,481
Disposals	0		( 18,499)		0		( 18,499)
At 31 March 2026	661,408		61,162		144,753		867,323
Net book value
At 31 March 2026	15,262		60,604		1,067		76,933
At 31 March 2025	31,235		60,317		1,863		93,415

4. Stocks

	2026		2025
	£		£
Stocks	100,000		115,000

5. Debtors

	2026		2025
	£		£
Trade debtors	307,274		214,631
Prepayments	20,012		24,198
Corporation tax	26,356		0
Other debtors	1,391		2,876
	355,033		241,705

6. Current asset investments

	2026		2025
	£		£
Other investments - at fair value	439,887		422,609

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	137,467		62,983
Amounts owed to Parent undertakings	85,000		35,000
Amounts owed to directors	2,060		2,060
Accruals	5,145		4,445
Taxation and social security	99,511		100,166
Other creditors	0		560
	329,183		205,214

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Ultimate controlling party

Parent Company:

Spencer-Carter Holdings Limited

Unit 8 Tregoniggie Industrial Estate Falmouth TR11 4SN

Spencer-Carter Holdings Limited owns 100% of the share capital. The ultimate controlling parties are Mr T Carter and Mr R Carter each owning 50% of the ordinary share capital of Spencer-Carter Holdings Limited.