Spitfire No. 1 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04671516 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2021

for

Spitfire No. 1 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Macdonald-Brown

SECRETARY:

Mrs P Macdonald-Brown

REGISTERED OFFICE:

143 Louisville Road

London

SW17 8RN

REGISTERED NUMBER:

04671516 (England and Wales)

ACCOUNTANTS:

Integrity Tax

May Cottage

Ashfield Road

Norton

Bury St Edmunds

Suffolk

IP31 3NF

FIXED ASSETS

Tangible assets

4

230,260

230,260

CURRENT ASSETS

Debtors

5

20,000

80,000

Cash at bank

122,214

44,327

142,214

124,327

CREDITORS

Amounts falling due within one year

6

3,532

3,109

NET CURRENT ASSETS

138,682

121,218

TOTAL ASSETS LESS CURRENT LIABILITIES

368,942

351,478

CREDITORS

Amounts falling due after more than one year

7

199,134

193,631

NET ASSETS

169,808

157,847

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

169,708

157,747

169,808

157,847

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 23rd December 2021 and were signed by:

J Macdonald-Brown - Director

1.	STATUTORY INFORMATION

Spitfire No. 1 Limited 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.

Tangible fixed assets

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

Land and buildings

-

in accordance with the property

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 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1st April 2020

and 31st March 2021

230,260

NET BOOK VALUE

At 31st March 2021

230,260

At 31st March 2020

230,260

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Other debtors

20,000

80,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

765

819

Taxation and social security

2,767

2,290

3,532

3,109

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

192,269

192,269

Other creditors

6,865

1,362

199,134

193,631

8.	RELATED PARTY DISCLOSURES

As at 31st March 2021 Syzygy Renewables Limited a company in which J Macdonald-Brown is a director and controlling shareholder owes £20,000 (2020: £80,000) on an interest free loan to Spitfire No. 1 Limited