Spectrum Building & Environmental Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07081932 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2020

for

Spectrum Building & Environmental Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W R Andrews

Miss R Wilshaw

SECRETARY:

Miss R Wilshaw

REGISTERED OFFICE:

552-554 Bristol Road

Selly Oak

Birmingham

B29 6BD

REGISTERED NUMBER:

07081932 (England and Wales)

ACCOUNTANTS:

Clearline Business Consultants Ltd

552-554 Bristol Road

Selly Oak

Birmingham

West Midlands

B29 6BD

FIXED ASSETS

Tangible assets

4

13,592

25,940

CURRENT ASSETS

Debtors

5

2,626

5,192

Prepayments and accrued income

190,000

64,655

Cash at bank

16,747

3,510

209,373

73,357

CREDITORS

Amounts falling due within one year

6

224,184

144,250

NET CURRENT LIABILITIES

(14,811

)

(70,893

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,219

)

(44,953

)

CREDITORS

Amounts falling due after more than one year

7

23,000

-

NET LIABILITIES

(24,219

)

(44,953

)

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(24,222

)

(44,956

)

SHAREHOLDERS' FUNDS

(24,219

)

(44,953

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 26 February 2021 and were signed on its behalf by:

W R Andrews - Director

1.	STATUTORY INFORMATION

Spectrum Building & Environmental Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance and 33% on cost

Taxation

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.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2019

69,450

Additions

12,500

Disposals

(27,000

)

At 30 November 2020

54,950

DEPRECIATION

At 1 December 2019

43,510

Charge for year

6,758

Eliminated on disposal

(8,910

)

At 30 November 2020

41,358

NET BOOK VALUE

At 30 November 2020

13,592

At 30 November 2019

25,940

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Trade debtors

2,626

-

Other debtors

-

5,192

2,626

5,192

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Trade creditors

398

6,944

Taxation and social security

8,849

455

Other creditors

214,937

136,851

224,184

144,250

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.20

30.11.19

£

£

Bank loans

23,000

-