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REGISTERED NUMBER: 10142454 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

SPARK MEDICAL LIMITED

SPARK MEDICAL LIMITED (REGISTERED NUMBER: 10142454)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SPARK MEDICAL LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr M Richards
Mr A Richards





REGISTERED OFFICE: Unit 34 Thursby Court
Thursby Road
Bromborough
Wirral
CH62 3PW





REGISTERED NUMBER: 10142454 (England and Wales)





ACCOUNTANTS: LBW Chartered Accountants
Enterprise House
The Courtyard
Old Courthouse Road
Bromborough
Merseyside
CH62 4UE

SPARK MEDICAL LIMITED (REGISTERED NUMBER: 10142454)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,922,879 1,153,694

CURRENT ASSETS
Debtors 5 289,893 291,697
Cash at bank 284,883 105,035
574,776 396,732
CREDITORS
Amounts falling due within one year 6 627,226 459,871
NET CURRENT LIABILITIES (52,450 ) (63,139 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,870,429

1,090,555

CREDITORS
Amounts falling due after more than one
year

7

(545,479

)

(344,634

)

PROVISIONS FOR LIABILITIES (360,259 ) (212,996 )
NET ASSETS 964,691 532,925

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 964,690 532,924
SHAREHOLDERS' FUNDS 964,691 532,925

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

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

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.

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 October 2023 and were signed on its behalf by:





Mr M Richards - Director


SPARK MEDICAL LIMITED (REGISTERED NUMBER: 10142454)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Spark Medical 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.

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.

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 and 10% on cost

No depreciation is charged in the year of acquisition.

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.

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.

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 73 (2022 - 69 ) .

SPARK MEDICAL LIMITED (REGISTERED NUMBER: 10142454)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 1,269,506
Additions 942,540
At 31 March 2023 2,212,046
DEPRECIATION
At 1 April 2022 115,812
Charge for year 173,355
At 31 March 2023 289,167
NET BOOK VALUE
At 31 March 2023 1,922,879
At 31 March 2022 1,153,694

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 261,227
DEPRECIATION
Charge for year 26,123
At 31 March 2023 26,123
NET BOOK VALUE
At 31 March 2023 235,104
At 31 March 2022 261,227

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 280,126 291,697
Other debtors 9,767 -
289,893 291,697

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 4 4,865
Hire purchase contracts 145,845 73,347
Trade creditors 195,361 173,486
Taxation and social security 185,582 118,372
Other creditors 100,434 89,801
627,226 459,871

SPARK MEDICAL LIMITED (REGISTERED NUMBER: 10142454)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 30,139
Hire purchase contracts 545,479 314,495
545,479 344,634

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 6,806
Hire purchase 39,971 -
39,971 6,806

8. SECURED DEBTS

The hire purchase creditor is secured on the individual asset concerned.

The bank loans and overdraft owing to Handlesbanken PLC are secured by a debenture and legal charges dated 16th September 2022 including fixed equitable charge over all present and future freehold and leasehold property: Floating Charge, among other things, book and other debts,

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
2 Ordinary 0.50 1 1

10. RESERVES
Retained
earnings
£   

At 1 April 2022 532,924
Profit for the year 662,264
Dividends (230,498 )
At 31 March 2023 964,690