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Registered number: 03219286
Speak-IT Limited
Financial Statements
For The Year Ended 31 December 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 03219286
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 9,399 11,130
9,399 11,130
CURRENT ASSETS
Stocks 6 68,446 73,153
Debtors 7 115,510 72,569
Cash at bank and in hand 25 25
183,981 145,747
Creditors: Amounts Falling Due Within One Year 8 (198,528 ) (159,222 )
NET CURRENT ASSETS (LIABILITIES) (14,547 ) (13,475 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,148 ) (2,345 )
Creditors: Amounts Falling Due After More Than One Year 9 (1,000 ) (9,000 )
NET LIABILITIES (6,148 ) (11,345 )
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account (7,148 ) (12,345 )
SHAREHOLDERS' FUNDS (6,148) (11,345)
Page 1
Page 2
For the year ending 31 December 2025 the company was entitled to exemption from audit 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 directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A M Tippett
Director
30 October 2026
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Speak-IT Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03219286 . The registered office is Chapel Meadow Cottage, Forest Row, East Sussex, RH18 5LH.
The company's principal activity continues to be that of information technology.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2024: 12)
11 12
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2025 39,843
As at 31 December 2025 39,843
Amortisation
As at 1 January 2025 39,843
As at 31 December 2025 39,843
...CONTINUED
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Net Book Value
As at 31 December 2025 -
As at 1 January 2025 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2025 124,424 2,999 9,074 136,497
As at 31 December 2025 124,424 2,999 9,074 136,497
Depreciation
As at 1 January 2025 112,651 3,073 9,643 125,367
Provided during the period 2,374 (74 ) (569 ) 1,731
As at 31 December 2025 115,025 2,999 9,074 127,098
Net Book Value
As at 31 December 2025 9,399 - - 9,399
As at 1 January 2025 11,773 (74 ) (569 ) 11,130
6. Stocks
2025 2024
£ £
Stock 68,446 73,153
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 83,287 32,089
Other debtors 32,223 40,480
115,510 72,569
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 72,848 76,230
Bank loans and overdrafts 30,800 29,123
Other creditors 42,005 20,675
Taxation and social security 52,875 33,194
198,528 159,222
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 1,000 9,000
10. Loans
An analysis of the maturity of loans is given below:
2025 2024
£ £
Amounts falling due within one year or on demand:
Bank loans 9,000 9,000
2025 2024
£ £
Amounts falling due between one and five years:
Bank loans 1,000 9,000
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
12. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £10,434.
At the balance sheet date contributions of £4,245 (2024: £2,629) were due to the fund and are included in creditors.
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13. Directors Advances, Credits and Guarantees
Included in other debtors due within one year are loans from the directors, Mr A M Tippett, amounting to £29,768 (2024 - £27,438).
14. Controlling Parties
The company was controlled throughout the current and previous period by its director, Mr A M Tippett, by virtue of the fact they own the majority of the company’s ordinary
issued share capital.
Page 7