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Financial Statements |
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for the Year Ended 30 September 2020 |
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for |
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Eric Spencer Limited |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 30 September 2020 |
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for |
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Eric Spencer Limited |
Eric Spencer Limited (Registered number: 04822009) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2020 |
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Company Information | 1 |
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Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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Eric Spencer Limited |
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Company Information |
for the Year Ended 30 September 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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19 The Grove |
Ilkley |
LS29 9LS |
Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Eric Spencer Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eric Spencer Limited for the year ended 30 September 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Eric Spencer Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Eric Spencer Limited and state those matters that we have agreed to state to the Board of Directors of Eric Spencer Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eric Spencer Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Eric Spencer Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Eric Spencer Limited. You consider that Eric Spencer Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Eric Spencer Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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19 The Grove |
Ilkley |
LS29 9LS |
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Eric Spencer Limited (Registered number: 04822009) |
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Balance Sheet |
30 September 2020 |
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2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
Eric Spencer Limited (Registered number: 04822009) |
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Balance Sheet - continued |
30 September 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Eric Spencer Limited (Registered number: 04822009) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2020 |
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1. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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TANGIBLE FIXED ASSETS |
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Improvements to property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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STOCKS |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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3. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2019 |
and 30 September 2020 |
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DEPRECIATION |
At 1 October 2019 |
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Charge for year |
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At 30 September 2020 |
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NET BOOK VALUE |
At 30 September 2020 |
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At 30 September 2019 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Prepayments |
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Eric Spencer Limited (Registered number: 04822009) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2020 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Other creditors | 1,862 | 1,862 |
Corporation tax | ( |
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Social security and other tax |
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Directors' current accounts | 120,893 | 162,184 |
Accrued expenses |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Bank loans - 2-5 years |
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Other creditors |
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7. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax | - | 1,688 |
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Deferred |
tax |
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Balance at 1 October 2019 |
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Provided during year | ( |
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Balance at 30 September 2020 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1 October 2019 |
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Deficit for the year | ( |
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At 30 September 2020 |
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Eric Spencer Limited (Registered number: 04822009) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2020 |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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No dividends were paid to the directors during the year (2019: £4,000). The company owed the directors £120,893 at 30th September 2020 (£162,184 at 30th September 2019). |
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11. | RELATED PARTY DISCLOSURES |
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Rent totalling £29,708 (2019 £30,447) was paid for the use of the company's premises. Mr R J Spencer, who is a director of the company, owns half of the premises. |