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REGISTERED NUMBER: 04512339 (England and Wales)















Financial Statements

for the Period 1st September 2022 to 27th August 2023

for

Spree NDT Co Limited

Spree NDT Co Limited (Registered number: 04512339)

Contents of the Financial Statements
for the period 1st September 2022 to 27th August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spree NDT Co Limited

Company Information
for the period 1st September 2022 to 27th August 2023







DIRECTORS: C M Spree
D Spree





REGISTERED OFFICE: The Laboratory
Brickmakers Industrial Estate
Castle Road
Sittingbourne
Kent
ME10 3RL





REGISTERED NUMBER: 04512339 (England and Wales)





ACCOUNTANTS: Beak Kemmenoe
Chartered Accountants
1-3 Manor Road
Chatham
Kent
ME4 6AE

Spree NDT Co Limited (Registered number: 04512339)

Balance Sheet
27th August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,791 146,691

CURRENT ASSETS
Stocks 15,518 24,356
Debtors 5 189,472 206,662
Cash at bank 3,974 8,065
208,964 239,083
CREDITORS
Amounts falling due within one year 6 432,647 414,924
NET CURRENT LIABILITIES (223,683 ) (175,841 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(137,892

)

(29,150

)

CREDITORS
Amounts falling due after more than one
year

7

28,681

39,264
NET LIABILITIES (166,573 ) (68,414 )

CAPITAL AND RESERVES
Called up share capital 201 201
Retained earnings (166,774 ) (68,615 )
(166,573 ) (68,414 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27th August 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 27th August 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.

Spree NDT Co Limited (Registered number: 04512339)

Balance Sheet - continued
27th August 2023


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 22nd August 2024 and were signed on its behalf by:





C M Spree - Director


Spree NDT Co Limited (Registered number: 04512339)

Notes to the Financial Statements
for the period 1st September 2022 to 27th August 2023


1. STATUTORY INFORMATION

Spree NDT Co 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.

Turnover is also earned from the provision of non-destructive equipment hire, and is recognised in relation to the period the hire took place.

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 - 33% on cost, 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial assets, trade and other debtors, are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

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.

Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Borrowing costs are not capitalised.

Taxation
Taxation for the period 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.


Spree NDT Co Limited (Registered number: 04512339)

Notes to the Financial Statements - continued
for the period 1st September 2022 to 27th August 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 period 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.

Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.

3. EMPLOYEES AND DIRECTORS

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

Spree NDT Co Limited (Registered number: 04512339)

Notes to the Financial Statements - continued
for the period 1st September 2022 to 27th August 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st September 2022 378,467
Disposals (102,554 )
At 27th August 2023 275,913
DEPRECIATION
At 1st September 2022 231,776
Charge for period 29,967
Eliminated on disposal (71,621 )
At 27th August 2023 190,122
NET BOOK VALUE
At 27th August 2023 85,791
At 31st August 2022 146,691

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

Plant and
machinery
etc
£   
COST
At 1st September 2022 221,479
Disposals (98,979 )
Transfer to ownership (8,750 )
At 27th August 2023 113,750
DEPRECIATION
At 1st September 2022 140,844
Charge for period 12,493
Eliminated on disposal (68,314 )
Transfer to ownership (5,674 )
At 27th August 2023 79,349
NET BOOK VALUE
At 27th August 2023 34,401
At 31st August 2022 80,635

Spree NDT Co Limited (Registered number: 04512339)

Notes to the Financial Statements - continued
for the period 1st September 2022 to 27th August 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 123,656 154,799
Other debtors and prepayments 65,816 51,863
189,472 206,662

Trade debtors in the sum of £96,980 (2022: £154,309) were subject to an invoice discounting agreement.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,015 9,768
Hire purchase contracts 1,887 45,726
Trade creditors 43,133 32,719
Taxation and social security 180,733 123,951
Other creditors and accruals 196,879 202,760
432,647 414,924

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 28,681 37,377
Hire purchase contracts - 1,887
28,681 39,264

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 1,887 -

Lloyds Bank Commercial Finance Ltd hold a fixed and floating charge over the property of the Company, this includes a negative pledge.

Obligations under hire purchase contracts are secured on the assets concerned.