SPEED OFFICE SUPPLIES LIMITED


Director	WILLOUGHBY, Angela


Company Secretary	WILLOUGHBY, Angela


Registered Address	382b Jedburgh Court
	Team Valley Trading Estate
	Gateshead
	NE11 0BQ


Registered Number	05151815 (England and Wales)

Balance Sheet as at
30 September 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		3,115		4,767
			3,115		4,767
Current assets
Stocks	4	1,200		1,400
Debtors	5	17,842		20,604
Cash at bank and on hand		2,844		3,533
		21,886		25,537
Creditors amounts falling due within one year	6	(25,062)		(23,437)
Net current assets (liabilities)			(3,176)		2,100
Total assets less current liabilities			(61)		6,867
Creditors amounts falling due after one year	7		(35,449)		(42,522)
Net assets			(35,510)		(35,655)
Capital and reserves
Called up share capital			2		2
Profit and loss account			(35,512)		(35,657)
Shareholders' funds			(35,510)		(35,655)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 21 October 2026, and are signed on its behalf by:

WILLOUGHBY, Angela
Director
Registered Company No. 05151815

SPEED OFFICE SUPPLIES LIMITED

Notes to the Financial Statements
for the year ended 30 September 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Office Equipment	4

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 October 25	32,551	32,551
At 30 September 26	32,551	32,551
Depreciation and impairment
At 01 October 25	27,784	27,784
Charge for year	1,652	1,652
At 30 September 26	29,436	29,436
Net book value
At 30 September 26	3,115	3,115
At 30 September 25	4,767	4,767

4.	Stocks

	2026	2025
	£	£
Other stocks	1,200	1,400
Total	1,200	1,400

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	11,121	14,792
Other debtors	4,613	5,812
Prepayments and accrued income	2,108	-
Total	17,842	20,604

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	9,705	8,694
Bank borrowings and overdrafts	10,893	10,206
Amounts owed to related parties	998	302
Taxation and social security	3,466	4,235
Total	25,062	23,437

7.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	10,354	13,726
Amounts owed to related parties	25,095	28,796
Total	35,449	42,522