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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

SP SERVICES (FABRICATIONS) 2007 LIMITED

SP SERVICES (FABRICATIONS) 2007 LIMITED (REGISTERED NUMBER: 06247299)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

SP SERVICES (FABRICATIONS) 2007 LIMITED

COMPANY INFORMATION
for the year ended 31 May 2023







DIRECTOR: S Liversidge





REGISTERED OFFICE: 70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN





REGISTERED NUMBER: 06247299 (England and Wales)





ACCOUNTANTS: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

SP SERVICES (FABRICATIONS) 2007 LIMITED (REGISTERED NUMBER: 06247299)

BALANCE SHEET
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 698,726 793,698

CURRENT ASSETS
Stocks 5,000 12,660
Debtors 6 135,863 268,161
Cash at bank 588,639 538,110
729,502 818,931
CREDITORS
Amounts falling due within one year 7 147,561 352,264
NET CURRENT ASSETS 581,941 466,667
TOTAL ASSETS LESS CURRENT LIABILITIES 1,280,667 1,260,365

PROVISIONS FOR LIABILITIES 6,238 15,324
NET ASSETS 1,274,429 1,245,041

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,274,428 1,245,040
SHAREHOLDERS' FUNDS 1,274,429 1,245,041

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2023 and were signed by:





S Liversidge - Director


SP SERVICES (FABRICATIONS) 2007 LIMITED (REGISTERED NUMBER: 06247299)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2023

1. STATUTORY INFORMATION

SP Services (Fabrications) 2007 Limited is a private company, limited by shares , 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.
Land and buildings - 2% on cost
Plant and machinery etc - 33.3% on cost, 25% on reducing balance, 15% on reducing balance and 10% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SP SERVICES (FABRICATIONS) 2007 LIMITED (REGISTERED NUMBER: 06247299)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 10 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2022 642,131 209,908 50,807
Additions - 6,720 -
Disposals - (147,918 ) -
At 31 May 2023 642,131 68,710 50,807
DEPRECIATION
At 1 June 2022 77,698 89,997 24,594
Charge for year 10,143 16,581 2,621
Eliminated on disposal - (78,905 ) -
At 31 May 2023 87,841 27,673 27,215
NET BOOK VALUE
At 31 May 2023 554,290 41,037 23,592
At 31 May 2022 564,433 119,911 26,213

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2022 157,677 4,624 1,065,147
Additions 71,652 481 78,853
Disposals (110,527 ) - (258,445 )
At 31 May 2023 118,802 5,105 885,555
DEPRECIATION
At 1 June 2022 76,159 3,001 271,449
Charge for year 26,889 1,293 57,527
Eliminated on disposal (63,242 ) - (142,147 )
At 31 May 2023 39,806 4,294 186,829
NET BOOK VALUE
At 31 May 2023 78,996 811 698,726
At 31 May 2022 81,518 1,623 793,698

SP SERVICES (FABRICATIONS) 2007 LIMITED (REGISTERED NUMBER: 06247299)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 117,883 247,695
Other debtors 4,222 3,583
Prepayments 13,758 16,883
135,863 268,161

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts - 7,305
Trade creditors 17,318 94,916
Tax 29,297 74,748
Social security and other taxes 2,604 10,458
VAT 42,282 20,966
Other creditors 3,059 5,402
Directors' current accounts 37,811 118,581
Deferred income 8,035 7,999
Accrued expenses 7,155 11,889
147,561 352,264

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans - 7,305

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SP SERVICES (FABRICATIONS) 2007 LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SP Services (Fabrications) 2007 Limited for the year ended 31 May 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of SP Services (Fabrications) 2007 Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SP Services (Fabrications) 2007 Limited and state those matters that we have agreed to state to the director of SP Services (Fabrications) 2007 Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that SP Services (Fabrications) 2007 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SP Services (Fabrications) 2007 Limited. You consider that SP Services (Fabrications) 2007 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SP Services (Fabrications) 2007 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN


11 October 2023