Company Registration No. 07839976 (England and Wales)
Spirit Public Sector Ltd
Unaudited accounts
for the year ended 31 March 2021
Spirit Public Sector Ltd
Unaudited accounts
Contents
Spirit Public Sector Ltd
Company Information
for the year ended 31 March 2021
Directors
John Guy Middleton
Stephen Patrick Frith
Company Number
07839976 (England and Wales)
Registered Office
2 Plassey Square
Penarth
Vale of Glamorgan
CF64 1HB
UK
Spirit Public Sector Ltd
Statement of financial position
as at 31 March 2021
Tangible assets
1,623
1,052
Cash at bank and in hand
977,554
689,250
Creditors: amounts falling due within one year
(209,679)
(196,797)
Net current assets
925,495
712,550
Net assets
927,118
713,602
Called up share capital
100
100
Profit and loss account
927,018
713,502
Shareholders' funds
927,118
713,602
For the year ending 31 March 2021 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 17 December 2021 and were signed on its behalf by
John Guy Middleton
Director
Company Registration No. 07839976
Spirit Public Sector Ltd
Notes to the Accounts
for the year ended 31 March 2021
Spirit Public Sector Ltd is a private company, limited by shares, registered in England and Wales, registration number 07839976. The registered office is 2 Plassey Square, Penarth, Vale of Glamorgan, CF64 1HB, UK.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets policy
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation or accumulated impairment losses. Costs include costs directly attributable to making the asset capable of operating as intended by management.
Depreciation is provided on all tangible fixed assets, at rates calculated to write-off the cost, less estimated residual value, of each asset on a systematic basis over their expected useful lives as shown below. On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss, and included in other operating income.
The turnover shown in the profit and loss account represents revenue recognised by the company is respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Spirit Public Sector Ltd
Notes to the Accounts
for the year ended 31 March 2021
4
Tangible fixed assets
Total
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan
(4,888)
40,000
25,374
9,738
3,365
40,000
33,763
9,601
During the year a Director, Mr J Middleton, received a loan from the company which was interest free and repayable on demand, £0 was outstanding at 31 March 2021, (2020: £8,253) and was repaid within 9 months of the year end, the maximum borrowed during the year was £8,253 (2020: £10,549).
Mr S Frith, also a Director, received a loan from the company which was interest free and repayable on demand. £9,738 was outstanding at 31 March 2021, (2020: £0) and was repaid within 9 months of the year end, the maximum borrowed during the year was £9,738, (2020: £0).
7
Transactions with related parties
The company paid dividends of £117,600 to Mr Frith and £97,400 to Mr Middleton, directors of the company.
8
Average number of employees
During the year the average number of employees was 1 (2020: 2).
