SPRING ENGINEERING SERVICES LIMITED

Company Registration Number:
SC220378 (Scotland)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

SPRING ENGINEERING SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

SPRING ENGINEERING SERVICES LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 1,899,631 1,875,067
Investments:   0 0
Total fixed assets: 1,899,631 1,875,067
Current assets
Stocks: 61,884 159,049
Debtors:   515,902 1,265,892
Cash at bank and in hand: 2,108,283 1,658,919
Investments:   0 0
Total current assets: 2,686,069 3,083,860
Creditors: amounts falling due within one year:   (659,817) (754,126)
Net current assets (liabilities): 2,026,252 2,329,734
Total assets less current liabilities: 3,925,883 4,204,801
Creditors: amounts falling due after more than one year:   (891,534) (935,155)
Provision for liabilities: 0 0
Total net assets (liabilities): 3,034,349 3,269,646
Capital and reserves
Called up share capital: 1 1
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 3,034,348 3,269,645
Shareholders funds: 3,034,349 3,269,646

The notes form part of these financial statements

SPRING ENGINEERING SERVICES LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 June 2024
and signed on behalf of the board by:

Name: NICHOLAS SOMERVILLE
Status: Director

The notes form part of these financial statements

SPRING ENGINEERING SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and VAT. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Rates Plant and Equipment – 20% reducing balance Fixtures and Fittings – 25% reducing balance Buildings and Improvements – 15 years straight line Computers – 3 years straight line Motor Vehicles – 25% reducing balance Cost of Acquisition – 20% reducing balance

Other accounting policies

STOCKS Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. TAXATION Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

SPRING ENGINEERING SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 36 38

SPRING ENGINEERING SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 3,210,420
Additions 471,700
Disposals (230,500)
Revaluations 0
Transfers 0
At 31 December 2023 3,451,620
Depreciation
At 01 January 2023 1,335,353
Charge for year 425,961
On disposals (209,325)
Other adjustments 0
At 31 December 2023 1,551,989
Net book value
At 31 December 2023 1,899,631
At 31 December 2022 1,875,067

SPRING ENGINEERING SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Related party transactions

Name of the related party: SPRING UK LTD
Relationship:
PARENT COMPANY
Description of the Transaction: Dividend paid to SUK Ltd of £38,000
£
Balance at 01 January 2023 0
Balance at 31 December 2023 0
Name of the related party: Helia Photonics Ltd
Relationship:
Common Control
Description of the Transaction: Goods and services sold to the value of £24,637
£
Balance at 01 January 2023 14,908
Balance at 31 December 2023 29,187
Name of the related party: Helia Photonics Ltd
Relationship:
Common Control
Description of the Transaction: Goods and services purchased to the value of £905
£
Balance at 01 January 2023 1,638
Balance at 31 December 2023 0