Company Registration No. 09723447 (England and Wales)
N D Spencer Investments Limited
Unaudited accounts
for the year ended 31 August 2020
N D Spencer Investments Limited
Unaudited accounts
Contents
N D Spencer Investments Limited
Company Information
for the year ended 31 August 2020
Directors
N Spencer
S Spencer
J Spencer
H Spencer
D Spencer
Company Number
09723447 (England and Wales)
Registered Office
52 Hall Farm Road
Duffield
Belper
Derbyshire
DE56 4FS
Accountants
Walker Accountancy Ltd
2 Marina Drive
Spondon
Derby
DE21 7AF
N D Spencer Investments Limited
Statement of financial position
as at
31 August 2020
Tangible assets
1,595
2,040
Investment property
575,000
725,000
Cash at bank and in hand
25,573
19,431
Creditors: amounts falling due within one year
(53,084)
(164,816)
Net current liabilities
(25,790)
(140,933)
Total assets less current liabilities
550,805
586,107
Creditors: amounts falling due after more than one year
(9,518)
-
Provisions for liabilities
Deferred tax
(16,813)
(22,401)
Net assets
524,474
563,706
Called up share capital
380
380
Share premium
378,621
378,621
Revaluation reserve
90,425
134,877
Profit and loss account
55,048
49,828
Shareholders' funds
524,474
563,706
For the year ending 31 August 2020 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2021 and were signed on its behalf by
N Spencer
Director
Company Registration No. 09723447
N D Spencer Investments Limited
Notes to the Accounts
for the year ended 31 August 2020
N D Spencer Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 09723447. The registered office is 52 Hall Farm Road, Duffield, Belper, Derbyshire, DE56 4FS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2020 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2018.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on cost
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
N D Spencer Investments Limited
Notes to the Accounts
for the year ended 31 August 2020
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal
of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
The accounts are presented in £ sterling.
4
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
At 1 September 2019
2,969
5
Investment property
2020
Fair value at 1 September 2019
725,000
At 31 August 2020
575,000
6
Debtors: amounts falling due within one year
2020
2019
Accrued income and prepayments
58
-
Other debtors
1,663
4,452
N D Spencer Investments Limited
Notes to the Accounts
for the year ended 31 August 2020
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
482
-
Taxes and social security
592
179
Other creditors
7,634
11,761
Loans from directors
44,376
152,876
8
Creditors: amounts falling due after more than one year
2020
2019
9
Average number of employees
During the year the average number of employees was 0 (2019: 0).