Company Registration No. 03265708 (England and Wales)
Sceptre Networking Limited
Unaudited accounts
for the year ended 30 June 2023
Sceptre Networking Limited
Unaudited accounts
Contents
Sceptre Networking Limited
Statement of financial position
as at 30 June 2023
Tangible assets
275,847
293,619
Cash at bank and in hand
428,178
159,372
Creditors: amounts falling due within one year
(614,139)
(434,240)
Net current assets
188,615
217,266
Total assets less current liabilities
464,462
510,885
Creditors: amounts falling due after more than one year
(5,950)
(19,824)
Provisions for liabilities
Deferred tax
(14,688)
(14,540)
Net assets
443,824
476,521
Called up share capital
354
354
Share premium
27,980
27,980
Profit and loss account
415,490
448,187
Shareholders' funds
443,824
476,521
For the year ending 30 June 2023 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.
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 15 August 2023 and were signed on its behalf by
D A Benning
Director
Company Registration No. 03265708
Sceptre Networking Limited
Notes to the Accounts
for the year ended 30 June 2023
Sceptre Networking Limited is a private company, limited by shares, registered in England and Wales, registration number 03265708. The registered office is 16 Canvin Court, Somerton Business Park, Somerton, Somerset, TA11 6SB, England.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
50% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Sceptre Networking Limited
Notes to the Accounts
for the year ended 30 June 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 July 2022
217,095
87,270
141,653
20,287
59,487
525,792
Additions
-
6,000
-
-
1,005
7,005
At 30 June 2023
217,095
93,270
141,653
20,287
60,492
532,797
At 1 July 2022
-
79,209
84,019
20,287
48,658
232,173
Charge for the year
-
6,091
14,381
-
4,305
24,777
At 30 June 2023
-
85,300
98,400
20,287
52,963
256,950
At 30 June 2023
217,095
7,970
43,253
-
7,529
275,847
At 30 June 2022
217,095
8,061
57,634
-
10,829
293,619
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
20,939
42,829
Amounts falling due within one year
Trade debtors
310,336
438,166
Accrued income and prepayments
16,751
15,187
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Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
13,854
14,224
Trade creditors
551,846
362,179
Taxes and social security
31,572
38,180
Other creditors
4,364
1,766
The finance leases and hire purchase contracts are secured on the assets concerned.
Sceptre Networking Limited
Notes to the Accounts
for the year ended 30 June 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
5,950
19,824
The finance leases and hire purchase contracts are secured on the assets concerned.
8
Operating lease commitments
2023
2022
At 30 June 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
25,002
35,347
9
Average number of employees
During the year the average number of employees was 25 (2022: 21).