Registration number: 07565948

Spencers Agents Limited

(Registration number: 07565948)

Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	3	-	-
Tangible assets	4	9,438	11,788
		9,438	11,788
Current assets
Debtors	5	55,261	73,475
Cash at bank and in hand		222,996	248,280
		278,257	321,755
Creditors: Amounts falling due within one year	6	(265,537)	(298,463)
Net current assets		12,720	23,292
Total assets less current liabilities		22,158	35,080
Provisions for liabilities		(2,360)	(2,947)
Net assets		19,798	32,133
Capital and reserves
Called up share capital		3	3
Retained earnings		19,795	32,130
Shareholders' funds		19,798	32,133

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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 23 July 2026
 

.........................................

N J Spencer

Director

Spencers Agents Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	Accounting policies

Statutory information

Spencers Agents Limited is a private company, limited by shares, domiciled in England and Wales, company number 07565948. The registered office is at 469 Ecclesall Road, Sheffield, S11 8PP.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover represents amounts receivable for estate agency and residential lettings net of VAT. Revenue is recognised in line with rental contract periods for lettings and upon legal completion for services relating to sales.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Spencers Agents Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

1	Accounting policies (continued)

Asset class	Depreciation method and rate
Office equipment	20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2025 - 14).

Spencers Agents Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

3	Intangible assets

	Goodwill  £
Cost
At 1 April 2025	25,000
At 31 March 2026	25,000
Amortisation
At 1 April 2025	25,000
At 31 March 2026	25,000
Carrying amount
At 31 March 2025 and 31 March 2026	-

4	Tangible assets

	Office equipment £
Cost
At 1 April 2025	19,945
Additions	1,783
At 31 March 2026	21,728
Depreciation
At 1 April 2025	8,157
Charge for the year	4,133
At 31 March 2026	12,290
Carrying amount
At 31 March 2026	9,438
At 31 March 2025	11,788

5

Debtors

	2026 £	2025 £
Trade debtors	23,273	39,058
Prepayments	31,988	34,417
	55,261	73,475

Spencers Agents Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

6

Creditors

	2026 £	2025 £
Due within one year
Trade creditors	30,912	30,381
Taxation and social security	97,732	118,378
Accruals and deferred income	35,431	7,627
Other creditors	101,462	142,077
	265,537	298,463

7	Obligations under lease commitments

Operating leases

At the balance sheet date the total amount of non cancellable operating lease commitments was £172,614 (2025 - £221,330).

8	Related party transactions

During the year, the director N Spencer had an interest free loan account with the company. At the balance sheet date, the amount due from the company was £523 (2025: £11,000).

Employee-Ownership Trust
On 31 July 2024 the entire share capital of the parent company was acquired by Spencers Trust Limited ("the Trust"). The Trust holds the shares for the future benefit of the group's employees. The funding for the transaction (and associated costs) was partially achieved through an initial contribution by the group. The balance of the transaction was funded by the previous owner. The loans due to the previous owner of the group are an obligation of the Trust and so the liability for future payments have not been recognised by the company.

The director is of the opinion that de-facto control does not exist and therefore has excluded the assets and liabilities of the Trust from these financial statements.

9	Parent and ultimate parent undertaking

The company's immediate parent is Spencer Property Ltd, incorporated in England.