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Unaudited Financial Statements for the Year Ended 31 March 2022 |
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Splicing and Allied Services Company Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2022 |
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for |
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Splicing and Allied Services Company Ltd |
Splicing and Allied Services Company Ltd (Registered number: 01103578) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Splicing and Allied Services Company Ltd |
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Company Information |
for the Year Ended 31 March 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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35 Station Approach |
West Byfleet |
Surrey |
KT14 6NF |
Splicing and Allied Services Company Ltd (Registered number: 01103578) |
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Balance Sheet |
31 March 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Property for sale | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Splicing and Allied Services Company Ltd (Registered number: 01103578) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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Splicing and Allied Services Company Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The company ceased trading on 24 December 2020 and at 31 March 2021 was in the process of selling it's assets and winding up the business. The company sold it's property in February 2022 and is expected to be liquidated shortly. These accounts and the comparatives have therefore been prepared on a break up basis. |
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Turnover |
Turnover represents amounts receivable for goods and services, net of VAT and trade discounts, and all arose on ordinary activities in the United Kingdom. |
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Tangible fixed assets |
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Government grants |
Government grants have been recognised in the profit and loss account so as to match them with the expenditure toward which they are intended to contribute. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Splicing and Allied Services Company Ltd (Registered number: 01103578) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Current asset investments |
The property from which the company has operated for many years was for sale at the previous balance sheet date and was valued at that previous balance sheet date at estimated market value. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Other debtors |
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5. | CURRENT ASSET INVESTMENTS |
31.3.22 | 31.3.21 |
£ | £ |
Property for sale |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2021 |
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Unrealised profit on property | (88,555 | ) |
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At 31 March 2022 |
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8. | POST BALANCE SHEET EVENTS |
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The company is expected to be liquidated shortly. |
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9. | ULTIMATE CONTROLLING PARTY |
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D J Higgins, a director and majority shareholder, is the ultimate controlling party. |
Splicing and Allied Services Company Ltd (Registered number: 01103578) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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10. | DRAKE AVENUE MANAGEMENT COMPANY LIMITED |
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During a previous year the company became a member and director of Drake Avenue Management Company Limited, a company limited by guarantee, formed to hold and administer the road into the estate from which Splicing and Allied Services Company Ltd operated. The company ceased to be a member of Drake Avenue Management Company Limited in February 2022. |