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REGISTERED NUMBER: 03857034 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 October 2023

for

S P (Leicester) Limited

S P (Leicester) Limited (Registered number: 03857034)

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










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


S P (Leicester) Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: H D Clements
S P Clements
E L Hawkes
D C M Hawkes





REGISTERED OFFICE: Unit 10, Peckleton Lane Business Park
Peckleton Common
Peckleton
Leicester
Leicestershire
LE9 7RN





REGISTERED NUMBER: 03857034 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
S P (Leicester) Limited


The following reproduces the text of the report prepared for the directors 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 Directors 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 S P (Leicester) Limited for the year ended 31 October 2023 which comprise the Income Statement, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of S P (Leicester) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of S P (Leicester) Limited and state those matters that we have agreed to state to the Board of Directors of S P (Leicester) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S P (Leicester) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that S P (Leicester) 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 S P (Leicester) Limited. You consider that S P (Leicester) 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 S P (Leicester) 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.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


13 February 2024

S P (Leicester) Limited (Registered number: 03857034)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,535 8,505
Tangible assets 5 333,062 437,112
338,597 445,617

CURRENT ASSETS
Stocks 40,000 40,000
Debtors 6 763,584 915,245
Cash at bank and in hand 849,442 1,038,356
1,653,026 1,993,601
CREDITORS
Amounts falling due within one year 7 590,404 778,048
NET CURRENT ASSETS 1,062,622 1,215,553
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,401,219

1,661,170

CREDITORS
Amounts falling due after more than
one year

8

(6,745

)

(59,342

)

PROVISIONS FOR LIABILITIES (53,549 ) (72,732 )
NET ASSETS 1,340,925 1,529,096

S P (Leicester) Limited (Registered number: 03857034)

Balance Sheet - continued
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,340,825 1,528,996
SHAREHOLDERS' FUNDS 1,340,925 1,529,096

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 13 February 2024 and were signed on its behalf by:





E L Hawkes - Director


S P (Leicester) Limited (Registered number: 03857034)

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


1. STATUTORY INFORMATION

S P (Leicester) 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 represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised on despatch of goods.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 20% on cost
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 33% straight line basis

Stocks
Stocks are valued at the estimated selling price less costs to complete and sell, 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 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.


S P (Leicester) Limited (Registered number: 03857034)

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


2. ACCOUNTING POLICIES - continued
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
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 38 (2022 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2022
and 31 October 2023 9,000
AMORTISATION
At 1 November 2022 495
Charge for year 2,970
At 31 October 2023 3,465
NET BOOK VALUE
At 31 October 2023 5,535
At 31 October 2022 8,505

S P (Leicester) Limited (Registered number: 03857034)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 November 2022 136,506 1,778,670 73,559
Additions - 3,188 2,168
At 31 October 2023 136,506 1,781,858 75,727
DEPRECIATION
At 1 November 2022 83,952 1,453,902 58,877
Charge for year 11,118 81,848 4,148
At 31 October 2023 95,070 1,535,750 63,025
NET BOOK VALUE
At 31 October 2023 41,436 246,108 12,702
At 31 October 2022 52,554 324,768 14,682

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 46,807 57,434 2,092,976
Additions - - 5,356
At 31 October 2023 46,807 57,434 2,098,332
DEPRECIATION
At 1 November 2022 7,212 51,921 1,655,864
Charge for year 9,898 2,394 109,406
At 31 October 2023 17,110 54,315 1,765,270
NET BOOK VALUE
At 31 October 2023 29,697 3,119 333,062
At 31 October 2022 39,595 5,513 437,112

S P (Leicester) Limited (Registered number: 03857034)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 705,976 875,714
Prepayments and accrued income 57,608 39,531
763,584 915,245

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 52,597 112,439
Trade creditors 160,046 173,336
Amounts owed to group undertakings 3,773 3,773
Corporation tax 119,861 185,847
Social security and other taxes 48,694 26,639
VAT 105,153 151,651
Other creditors 80,628 4,994
Accruals and deferred income 19,652 119,369
590,404 778,048

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 6,745 59,342

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Hire purchase contracts 59,342 171,781

Assets financed by hire purchase are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
100 Ordinary £1 100 100

S P (Leicester) Limited (Registered number: 03857034)

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


11. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £76,800 (2022 - £164,320).

12. ULTIMATE CONTROLLING PARTY

The parent company is SP (Leicester) Holdings Limited which is controlled by the directors of the company.