SPRING FIBRE LIMITED

Company Registration Number:
12225396 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 1 January 2022

End date: 31 December 2022

SPRING FIBRE LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Additional notes
Balance sheet notes

SPRING FIBRE LIMITED

Balance sheet

As at 31 December 2022

Notes 2022 2021


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 677,605 83,083
Investments:   0 0
Total fixed assets: 677,605 83,083
Current assets
Stocks: 4 1,017,380 633,778
Debtors: 5 436,853 22,692
Cash at bank and in hand: 6,046,931 256,330
Investments:   0 0
Total current assets: 7,501,164 912,800
Prepayments and accrued income: 704,977 9,158
Creditors: amounts falling due within one year: 6 ( 513,735 ) ( 135,143 )
Net current assets (liabilities): 7,692,406 786,815
Total assets less current liabilities: 8,370,011 869,898
Creditors: amounts falling due after more than one year: 7 ( 10,777,882 ) 0
Provision for liabilities: 0 0
Accruals and deferred income: ( 220,088 ) ( 416,667 )
Total net assets (liabilities): (2,627,959) 453,231
Capital and reserves
Called up share capital: 48,653 11,891
Share premium account: 2,615,363 2,318,620
Other reserves: 0 0
Profit and loss account: (5,291,975 ) (1,877,280 )
Total Shareholders' funds: ( 2,627,959 ) 453,231

The notes form part of these financial statements

SPRING FIBRE LIMITED

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 29 September 2023
and signed on behalf of the board by:

Name: Stuart Sutton
Status: Director

The notes form part of these financial statements

SPRING FIBRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Property, plant and equipment is stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. No valuations have been undertaken of the FTTP network. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to profit or loss during the reporting year in which they are incurred. Depreciation is calculated using the straight-line method to allocate the cost amounts of the assets, net of any residual values, over the estimated useful lives: Computer equipment 4 years The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting year. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are included in profit or loss.

    Other accounting policies

    As per the accounts.

SPRING FIBRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 12 8

SPRING FIBRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2022 87,784 87,784
Additions 595,420 595,420
Disposals
Revaluations
Transfers
At 31 December 2022 683,204 683,204
Depreciation
At 1 January 2022 4,701 4,701
Charge for year 898 898
On disposals
Other adjustments
At 31 December 2022 5,599 5,599
Net book value
At 31 December 2022 677,605 677,605
At 31 December 2021 83,083 83,083

SPRING FIBRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Stocks

2022 2021
£ £
Stocks 1,017,380 633,778
Total 1,017,380 633,778

SPRING FIBRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Debtors

2022 2021
£ £
Trade debtors 0 0
Other debtors 436,853 22,692
Total 436,853 22,692

SPRING FIBRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

6. Creditors: amounts falling due within one year note

2022 2021
£ £
Trade creditors 243,779 29,687
Taxation and social security 69,090 21,339
Other creditors 200,866 84,117
Total 513,735 135,143

SPRING FIBRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

7. Creditors: amounts falling due after more than one year note

2022 2021
£ £
Other creditors 10,777,882 0
Total 10,777,882 0