REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements for the Year Ended 28 February 2021 |
|
for |
|
SPUC PRO-LIFE LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements for the Year Ended 28 February 2021 |
|
for |
|
SPUC PRO-LIFE LIMITED |
SPUC PRO-LIFE LIMITED (REGISTERED NUMBER: 06195816) |
|
Contents of the Financial Statements |
for the Year Ended 28 February 2021 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
SPUC PRO-LIFE LIMITED |
|
Company Information |
for the Year Ended 28 February 2021 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
SPUC PRO-LIFE LIMITED (REGISTERED NUMBER: 06195816) |
|
Balance Sheet |
28 February 2021 |
|
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investments | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
8 |
|
|
NET ASSETS |
|
|
|
RESERVES |
Income and expenditure account |
|
|
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
SPUC PRO-LIFE LIMITED (REGISTERED NUMBER: 06195816) |
|
Notes to the Financial Statements |
for the Year Ended 28 February 2021 |
|
|
1. | STATUTORY INFORMATION |
|
Spuc Pro-Life Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Preparation of consolidated financial statements |
The financial statements contain information about Spuc Pro-Life Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
|
Turnover |
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 |
|
Plant and machinery etc | - |
|
|
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
SPUC PRO-LIFE LIMITED (REGISTERED NUMBER: 06195816) |
|
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
|
|
2. | ACCOUNTING POLICIES - continued |
|
Financial instruments |
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section |
12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
|
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
|
Basic financial assets |
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
|
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
|
Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
|
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method |
|
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
|
The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability. |
|
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. |
|
3. | EMPLOYEES |
|
The average number of employees during the year was
|
SPUC PRO-LIFE LIMITED (REGISTERED NUMBER: 06195816) |
|
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2020 |
|
Additions |
|
Disposals | ( |
) |
At 28 February 2021 |
|
DEPRECIATION |
At 1 March 2020 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
At 28 February 2021 |
|
NET BOOK VALUE |
At 28 February 2021 |
|
At 29 February 2020 |
|
|
Fixed assets, included in the above, which are held under finance leases are as follows: |
|
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2020 |
and 28 February 2021 |
|
DEPRECIATION |
At 1 March 2020 |
|
Charge for year |
|
At 28 February 2021 |
|
NET BOOK VALUE |
At 28 February 2021 |
|
At 29 February 2020 |
|
|
5. | FIXED ASSET INVESTMENTS |
|
2021 | 2020 |
£ | £ |
Shares in group undertakings |
|
|
Loans to group undertakings |
|
|
|
|
SPUC PRO-LIFE LIMITED (REGISTERED NUMBER: 06195816) |
|
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
|
|
5. | FIXED ASSET INVESTMENTS - continued |
|
Additional information is as follows: |
Shares in |
group |
undertakings |
£ |
COST |
At 1 March 2020 |
and 28 February 2021 |
|
NET BOOK VALUE |
At 28 February 2021 |
|
At 29 February 2020 |
|
Loans to |
group |
undertakings |
£ |
At 1 March 2020 |
and 28 February 2021 |
|
|
Shares in group undertakings comprises 80% of the issued share capital of Stannary Property Limited. |
|
Loans to group undertakings comprises a loan made to Stannary Property Limited. The loan is interest free and repayable on demand. The company does not intend to call in the loan unless Stannary Property is in a position to repay it. |
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Finance leases |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Finance leases |
|
|
SPUC PRO-LIFE LIMITED (REGISTERED NUMBER: 06195816) |
|
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
|
|
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
10. | OTHER FINANCIAL COMMITMENTS |
|
The company has provided a guarantee, secured on a fixed and floating charge over all assets of the company, to HSBC Bank in respect of the borrowings of its subsidiary, Stannary Property Limited. At the year end date the outstanding borrowings amounted to £26,418. |
|
The company has minimum operating lease payments due in respect of its Preston premises amounting to £20,000 due within one year and £50,000 due in one to five years. |
|
11. | RELATED PARTY DISCLOSURES |
|
The company has made an interest free loan of £280,000 (2020: £280,000) to Stannary Property Limited, a subsidiary company in which it is the major shareholder. SPUC Pro-Life Ltd paid rent of £64,152 (2020: £64,152) during the year to Stannary Property Limited. The company has provided a guarantee to HSBC Bank in respect of the borrowings of Stannary Property Limited. |
|
During the year the company made contributions to SPUC Pro-Life Scotland of £117,659 (2020: £86,498). SPUC Pro-Life Scotland charged the company £22,707 for the costs of shared staff. At the year end the company owed £7,951 (2020: £5,065) to SPUC Pro-Life Scotland, who share similar directors to that of the company. |
|
During the year the company charged SPUC Education and Research Trust £4,173 (2020: £4,094) for administration services. At the year end the company was owed £329 (2020: £1,612) by the SPUC Education and Research Trust which is a UK registered charitable company. The appointment of trustees to SPUC Education and Research Trust is vested in the company. |