SPUC Pro-Life Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06195816 (England and Wales)

Financial Statements for the Year Ended 28 February 2022

for

SPUC PRO-LIFE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C E Conlon

J A Deighan

J V Edwards

A Fearon

R M Haig

C M Hudson

H F Kiszczuk

M B Kobylarska

A F Kudlowski

M J McCusker

A C Mullett

A E Murphy

J A Smith

M P Gibbs

REGISTERED OFFICE:

3 Whitacre Mews

Stannary Street

London

SE11 4AB

REGISTERED NUMBER:

06195816 (England and Wales)

FIXED ASSETS

Tangible assets

4

13,154

30,735

Investments

5

280,080

280,080

293,234

310,815

CURRENT ASSETS

Stocks

5,151

4,468

Debtors

6

149,125

63,376

Cash at bank and in hand

840,644

971,202

994,920

1,039,046

CREDITORS

Amounts falling due within one year

7

315,262

173,022

NET CURRENT ASSETS

679,658

866,024

TOTAL ASSETS LESS CURRENT LIABILITIES

972,892

1,176,839

CREDITORS

Amounts falling due after more than one year

8

4,553

25,833

NET ASSETS

968,339

1,151,006

RESERVES

Income and expenditure account

968,339

1,151,006

968,339

1,151,006

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 19 November 2022 and were signed on its behalf by:

J A Deighan - Director

1.	STATUTORY INFORMATION

Spuc Pro-Life Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Spuc Pro-Life Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section

12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2021 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2021

122,302

Additions

11,382

Disposals

(39,672

)

At 28 February 2022

94,012

DEPRECIATION

At 1 March 2021

91,567

Charge for year

15,258

Eliminated on disposal

(25,967

)

At 28 February 2022

80,858

NET BOOK VALUE

At 28 February 2022

13,154

At 28 February 2021

30,735

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 March 2021

52,851

Additions

6,000

Disposals

(38,368

)

At 28 February 2022

20,483

DEPRECIATION

At 1 March 2021

26,610

Charge for year

11,469

Eliminated on disposal

(24,989

)

At 28 February 2022

13,090

NET BOOK VALUE

At 28 February 2022

7,393

At 28 February 2021

26,241

5.	FIXED ASSET INVESTMENTS

2022

2021

£

£

Shares in group undertakings

80

80

Loans to group undertakings

280,000

280,000

280,080

280,080

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 March 2021

and 28 February 2022

80

NET BOOK VALUE

At 28 February 2022

80

At 28 February 2021

80

Loans to

group

undertakings

£

At 1 March 2021

and 28 February 2022

280,000

Shares in group undertakings comprises 80% of the issued share capital of Stannary Property Limited.

Loans to group undertakings comprises a loan made to Stannary Property Limited. The loan is interest free and repayable on demand. The company does not intend to call in the loan unless Stannary Property is in a position to repay it.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

149,125

63,376

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Finance leases

28,636

14,958

Trade creditors

44,664

22,307

Taxation and social security

26,151

22,308

Other creditors

215,811

113,449

315,262

173,022

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Finance leases

4,553

25,833

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Elkins FCA (Senior Statutory Auditor)

for and on behalf of Knox Cropper LLP

10.	OTHER FINANCIAL COMMITMENTS

The company has provided a guarantee, secured on a fixed and floating charge over all assets of the company, to HSBC Bank in respect of the borrowings of its subsidiary, Stannary Property Limited. At the year end date the outstanding borrowings amounted to £nil.

The company has minimum operating lease payments due in respect of its Preston premises amounting to £20,000 due within one year and £30,000 due in one to five years.

11.	RELATED PARTY DISCLOSURES

The company has made an interest free loan of £280,000 (2021: £280,000) to Stannary Property Limited, a subsidiary company in which it is the major shareholder. SPUC Pro-Life Ltd paid rent of £64,152 (2021: £64,152) during the year to Stannary Property Limited. The company has provided a guarantee to HSBC Bank in respect of the borrowings of Stannary Property Limited.

During the year the company made contributions to SPUC Pro-Life Scotland of £106,218 (2021: £117,659). SPUC Pro-Life Scotland charged the company £22,707 for the costs of shared staff. At the year end the company owed £7,860 (2021: £7,951) to SPUC Pro-Life Scotland, who share similar directors to that of the company.

During the year the company charged SPUC Education and Research Trust £4,323 (2021: £4,173) for administration services. At the year end the company was owed £10,257 (2021: £329) by the SPUC Education and Research Trust which is a UK registered charitable company. The appointment of trustees to SPUC Education and Research Trust is vested in the company.