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REGISTERED NUMBER: 07131110 (England and Wales)













Spanwright UK Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






Spanwright UK Limited (Registered number: 07131110)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company information 1

Statement of financial position 2

Notes to the financial statements 3 to 5


Spanwright UK Limited

Company Information
for the Year Ended 31 January 2024







Directors: Mr D Wright
Mr W R Gray
Mr S Wright





Secretary: Mr D Wright





Registered office: Windmill Hill Business Park
Whitehill Way
Swindon
England
SN5 6QR





Registered number: 07131110 (England and Wales)





Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH

Spanwright UK Limited (Registered number: 07131110)

Statement of Financial Position
31 January 2024

2024 2023
Notes £ £
Fixed assets
Property, plant and equipment 4 - 1,377

Current assets
Receivables 5 760,473 658,188
Cash at bank 271,084 241,989
1,031,557 900,177
Payables
Amounts falling due within one year 6 (621,836 ) (587,813 )
Net current assets 409,721 312,364
Total assets less current liabilities 409,721 313,741

Payables
Amounts falling due after more than one
year

7

-

(46,666

)

Provisions for liabilities 8 - (308 )
Net assets 409,721 266,767

Capital and reserves
Called up share capital 9 1 1
Retained earnings 409,720 266,766
Shareholders' funds 409,721 266,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:




Mr D Wright - Director


Spanwright UK Limited (Registered number: 07131110)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. Statutory information

Spanwright UK 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. 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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost

Property, plant and equipment under the cost model are stated at historical cost, less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Receivables
Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Spanwright UK Limited (Registered number: 07131110)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


2. Accounting policies - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Payables
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Useful economic lives of tangible assets
The annual depreciation charges for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See Property, Plant and Equipment note for the carrying amount of the assets, and note 2 for the useful economic lives for each class of asset.

3. Employees and directors

The average number of employees during the year was 6 (2023 - 5 ) .

4. Property, plant and equipment
Plant and
machinery
£
Cost
At 1 February 2023
and 31 January 2024 8,250
Depreciation
At 1 February 2023 6,873
Charge for year 1,377
At 31 January 2024 8,250
Net book value
At 31 January 2024 -
At 31 January 2023 1,377

Spanwright UK Limited (Registered number: 07131110)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


5. Receivables: amounts falling due within one year
2024 2023
£ £
Trade receivables 703,401 611,780
Other receivables 57,072 46,408
760,473 658,188

6. Payables: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts - 20,000
Trade payables 39,822 66,542
Taxation and social security 66,851 52,060
Other payables 515,163 449,211
621,836 587,813

7. Payables: amounts falling due after more than one year
2024 2023
£ £
Bank loans - 46,666

8. Provisions for liabilities
2024 2023
£ £
Deferred tax - 308

Deferred tax
£
Balance at 1 February 2023 308
Credit to Statement of income and retained earnings during year (308 )
Balance at 31 January 2024 -

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1 Ordinary shares 1 1 1

10. Directors' advances, credits and guarantees

The following loans to the company from a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£ £
Mr D Wright
Balance outstanding at start of year 10,000 10,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,000 10,000