REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
11 March 2022 to 31 March 2023 |
for |
Spencerfield Investments Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
11 March 2022 to 31 March 2023 |
for |
Spencerfield Investments Ltd |
Spencerfield Investments Ltd (Registered number: SC725957) |
Contents of the Financial Statements |
for the Period 11 March 2022 to 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Spencerfield Investments Ltd |
Company Information |
for the Period 11 March 2022 to 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
6 Logie Mill |
Edinburgh |
Lothian |
EH7 4HG |
Spencerfield Investments Ltd (Registered number: SC725957) |
Balance Sheet |
31 March 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Spencerfield Investments Ltd (Registered number: SC725957) |
Notes to the Financial Statements |
for the Period 11 March 2022 to 31 March 2023 |
1. | STATUTORY INFORMATION |
Spencerfield Investments Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial instruments |
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the instrument. All financial assets and liabilities are initially measure at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs). |
Financial assets are derecognised when and only when contractual rights to the cash flows from the financial asset expire or are settled. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Deferred tax |
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 period 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. |
Fixed asset investments |
Fixed asset investments comprise investments in quoted equity instruments which are measured at fair value. Changes in fair value are recognised in the profit and loss account. |
Provisions |
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. |
Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
Spencerfield Investments Ltd (Registered number: SC725957) |
Notes to the Financial Statements - continued |
for the Period 11 March 2022 to 31 March 2023 |
4. | FIXED ASSET INVESTMENTS |
£ |
Other investments not loans |
Additional information is as follows: |
Listed |
investments |
£ |
COST OR VALUATION |
Additions |
Disposals | ( |
) |
Revaluations | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
The fair value of listed investments was determined with reference to the quoted market price at the reporting date. The cost of the investments at acquisition was £2,934,919. |
Investments (neither listed nor unlisted) were as follows: |
£ |
Cash account | 24,913 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 100 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
As at 31 March 2023, the company owed directors £2,994,900. |
Spencerfield Investments Ltd (Registered number: SC725957) |
Notes to the Financial Statements - continued |
for the Period 11 March 2022 to 31 March 2023 |
10. | RELATED PARTY DISCLOSURES |
There were no related party transactions in the period to 31 March 2023. |
11. | ULTIMATE CONTROLLING PARTY |
There is no ultimate controlling party. |