IRIS Accounts Productionv24.1.9.204150975Board of DirectorsBoard of Directors1.4.2331.3.2431.3.24falsetruefalsefalsetruefalseOrdinary1.00000'B' Non-voting1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041509752023-03-31041509752024-03-31041509752023-04-012024-03-31041509752022-03-31041509752022-04-012023-03-31041509752023-03-3104150975ns15:EnglandWales2023-04-012024-03-3104150975ns14:PoundSterling2023-04-012024-03-3104150975ns10:Director12023-04-012024-03-3104150975ns10:Director22023-04-012024-03-3104150975ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104150975ns10:SmallEntities2023-04-012024-03-3104150975ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104150975ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104150975ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104150975ns10:FullAccounts2023-04-012024-03-3104150975ns10:OrdinaryShareClass12023-04-012024-03-3104150975ns10:OrdinaryShareClass32023-04-012024-03-3104150975ns10:Director62023-04-012024-03-3104150975ns10:Director72023-04-012024-03-3104150975ns10:Director82023-04-012024-03-3104150975ns10:Director92023-04-012024-03-3104150975ns10:CompanySecretary12023-04-012024-03-3104150975ns10:RegisteredOffice2023-04-012024-03-3104150975ns5:CurrentFinancialInstruments2024-03-3104150975ns5:CurrentFinancialInstruments2023-03-3104150975ns5:Non-currentFinancialInstruments2024-03-3104150975ns5:Non-currentFinancialInstruments2023-03-3104150975ns5:ShareCapital2024-03-3104150975ns5:ShareCapital2023-03-3104150975ns5:RevaluationReserve2024-03-3104150975ns5:RevaluationReserve2023-03-3104150975ns5:RetainedEarningsAccumulatedLosses2024-03-3104150975ns5:RetainedEarningsAccumulatedLosses2023-03-3104150975ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-04-012024-03-3104150975ns5:PlantMachinery2023-04-012024-03-3104150975ns5:FurnitureFittings2023-04-012024-03-3104150975ns5:ComputerEquipment2023-04-012024-03-3104150975ns5:LandBuildings2023-03-3104150975ns5:PlantMachinery2023-03-3104150975ns5:FurnitureFittings2023-03-3104150975ns5:ComputerEquipment2023-03-3104150975ns5:LandBuildings2023-04-012024-03-3104150975ns5:LandBuildings2024-03-3104150975ns5:PlantMachinery2024-03-3104150975ns5:FurnitureFittings2024-03-3104150975ns5:ComputerEquipment2024-03-3104150975ns5:LandBuildings2023-03-3104150975ns5:PlantMachinery2023-03-3104150975ns5:FurnitureFittings2023-03-3104150975ns5:ComputerEquipment2023-03-3104150975ns5:LandBuildingsns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3104150975ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3104150975ns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3104150975ns5:LandBuildingsns5:LeasedAssetsHeldAsLessee2024-03-3104150975ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3104150975ns5:LeasedAssetsHeldAsLessee2024-03-3104150975ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104150975ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104150975ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3104150975ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3104150975ns5:Secured2024-03-3104150975ns5:Secured2023-03-3104150975ns5:DeferredTaxation2023-03-3104150975ns5:DeferredTaxation2024-03-3104150975ns10:OrdinaryShareClass12024-03-3104150975ns10:OrdinaryShareClass32024-03-3104150975ns5:RetainedEarningsAccumulatedLosses2023-03-3104150975ns5:RevaluationReserve2023-03-3104150975ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31

REGISTERED NUMBER: 04150975 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR


SPICER CONSULTING LIMITED


SPICER CONSULTING LIMITED (REGISTERED NUMBER: 04150975)








CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4





SPICER CONSULTING LIMITED



COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2024









DIRECTORS:

J N Sackett


Dr A P Spicer


S J Spicer


D P Hutton


M A Zaremba


R F Pallister







SECRETARY:

Mrs C E Spicer







REGISTERED OFFICE:

Eden Laboratory


Broadmead Road


Stewartby


Bedford


Bedfordshire


MK43 9ND







REGISTERED NUMBER:

04150975 (England and Wales)







ACCOUNTANTS:

Darrington & Co Limited


71 High Street


Gt Barford


Bedford


Bedfordshire


MK44 3LF


SPICER CONSULTING LIMITED (REGISTERED NUMBER: 04150975)



BALANCE SHEET

31 MARCH 2024



31.3.24

31.3.23



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

2,669,280


2,729,825




CURRENT ASSETS

Stocks

1,949,371


1,727,077



Debtors

5

6,653,243


5,955,957



Cash at bank and in hand

643,041


1,113,391



9,245,655


8,796,425



CREDITORS

Amounts falling due within one year

6

1,093,036


1,388,466



NET CURRENT ASSETS

8,152,619


7,407,959



TOTAL ASSETS LESS CURRENT

LIABILITIES

10,821,899


10,137,784




CREDITORS

Amounts falling due after more than one

year

7

(799,646

)

(383,770

)



PROVISIONS FOR LIABILITIES

9

(196,658

)

(163,236

)


NET ASSETS

9,825,595


9,590,778




CAPITAL AND RESERVES

Called up share capital

10

2,128


2,128



Revaluation reserve

11

323,186


323,186



Retained earnings

11

9,500,281


9,265,464



SHAREHOLDERS' FUNDS

9,825,595


9,590,778




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


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.


SPICER CONSULTING LIMITED (REGISTERED NUMBER: 04150975)



BALANCE SHEET - continued

31 MARCH 2024



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 4 September 2024 and were signed on its behalf by:





S J Spicer - Director




J N Sackett - Director



SPICER CONSULTING LIMITED (REGISTERED NUMBER: 04150975)



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024


1.

STATUTORY INFORMATION



Spicer Consulting 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 as modified by the revaluation of certain assets.    



Turnover


Turnover represents net invoiced sales and work done, excluding value added tax.



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.  


Freehold property

-

in accordance with the property


Plant and machinery

-  

at varying rates on cost and at variable rates on reducing balance


Fixtures and fittings

-

25% on cost


Computer equipment

-

33% on cost



Stocks

Stocks are valued at the lower of cost and net realisable value, 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.


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.


Research and development

Expenditure on research and development is written off in the year in which it is incurred.



Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.


SPICER CONSULTING LIMITED (REGISTERED NUMBER: 04150975)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024


2.

ACCOUNTING POLICIES - continued



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 50 (2023 - 43 ) .


4.

TANGIBLE FIXED ASSETS


Fixtures



Freehold


Plant and


and


Computer



property


machinery


fittings


equipment


Totals

£   

£   

£   

£   

£   



COST OR VALUATION


At 1 April 2023

2,071,392


868,586


231,615


35,562


3,207,155




Additions

96,124


34,171


5,034


5,863


141,192




Revaluations

(77,516

)

-


-


-


(77,516

)



At 31 March 2024

2,090,000


902,757


236,649


41,425


3,270,831




DEPRECIATION


At 1 April 2023

57,400


321,833


79,391


18,706


477,330




Charge for year

15,899


111,928


55,618


9,199


192,644




Revaluation adjustments

(68,423

)

-


-


-


(68,423

)



At 31 March 2024

4,876


433,761


135,009


27,905


601,551




NET BOOK VALUE


At 31 March 2024

2,085,124


468,996


101,640


13,520


2,669,280




At 31 March 2023

2,013,992


546,753


152,224


16,856


2,729,825




SPICER CONSULTING LIMITED (REGISTERED NUMBER: 04150975)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024


4.

TANGIBLE FIXED ASSETS - continued



Cost or valuation at 31 March 2024 is represented by:



Fixtures



Freehold


Plant and


and


Computer



property


machinery


fittings


equipment


Totals

£   

£   

£   

£   

£   



Valuation in 2008

308,896


-


-


-


308,896




Valuation in 2013

14,290


-


-


-


14,290




Valuation in 2023

(77,516

)

-


-


-


(77,516

)



Cost

1,844,330


902,757


236,649


41,425


3,025,161



2,090,000


902,757


236,649


41,425


3,270,831





If the freehold property had not been revalued it would have been included at the following historical cost:



31.3.24


31.3.23

£   

£   



Cost

1,844,330


1,748,206





Freehold property was valued on an open market basis on 14 December 2023 by Underwoods LLP Chartered Surveyors  .



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


Freehold


Plant and



property


machinery


Totals

£   

£   

£   



COST OR VALUATION


Additions

96,124


-


96,124




Reclassification/transfer

-


165,435


165,435




At 31 March 2024

96,124


165,435


261,559




DEPRECIATION


Charge for year

1,202


14,630


15,832




Reclassification/transfer

-


41,116


41,116




At 31 March 2024

1,202


55,746


56,948




NET BOOK VALUE


At 31 March 2024

94,922


109,689


204,611




SPICER CONSULTING LIMITED (REGISTERED NUMBER: 04150975)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024


5.

DEBTORS


31.3.24


31.3.23

£   

£   



Amounts falling due within one year:


Trade debtors

1,045,539


1,077,785




Loan to Pope & Meads Limited

240,000


-




Loan to Abbey Precision Limited

50,000


100,000




Loan to D S Flooring Inc

-


19,000




Accrued income

68,043


-




VAT

26,101


256,331




Prepayments

1,188,560


119,055



2,618,243


1,572,171





Amounts falling due after more than one year:


Loan to Pope & Meads Limited

460,000


1,140,000




Loan to Abbey Precision Limited

1,075,000


1,043,786




Loan to Algenuity Limited

2,500,000


2,200,000



4,035,000


4,383,786





Aggregate amounts

6,653,243


5,955,957




6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.24


31.3.23

£   

£   



Bank loans and overdrafts

67,500


42,000




Hire purchase contracts

45,595


-




Trade creditors

148,458


413,783




Deferred income

540,516


596,196




Tax

122,911


217,282




Social security and other taxes

46,037


69,348




Accrued expenses

122,019


49,857



1,093,036


1,388,466




7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR



31.3.24


31.3.23

£   

£   



Bank loans more 5 yr by instal

719,628


383,770




Hire purchase contracts

80,018


-



799,646


383,770





Amounts falling due in more than five years:



Repayable by instalments


Bank loans more 5 yr by instal

719,628


383,770




SPICER CONSULTING LIMITED (REGISTERED NUMBER: 04150975)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024


8.

SECURED DEBTS



The following secured debts are included within creditors:



31.3.24


31.3.23

£   

£   



Bank loans

787,128


425,770





The bank loan is secured by a fixed charge on Unit 20, Broadmead Road, Stewartby, Bedford and by a fixed and floating charge over the company assets.



Hire purchase contracts are secured on specific fixed assets financed.


9.

PROVISIONS FOR LIABILITIES


31.3.24


31.3.23

£   

£   



Deferred tax

196,658


163,236





Deferred



tax


£   



Balance at 1 April 2023

163,236




Accelerated capital allowances

33,422




Balance at 31 March 2024

196,658




10.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.3.24


31.3.23


value:

£   

£   



2,000

Ordinary

£1

2,000


2,000




128

'B' Non-voting

£1

128


128



2,128


2,128




11.

RESERVES


Retained


Revaluation



earnings


reserve


Totals

£   

£   

£   




At 1 April 2023

9,265,464


323,186


9,588,650




Profit for the year

596,467


596,467




Dividends

(361,650

)

(361,650

)



At 31 March 2024

9,500,281


323,186


9,823,467




SPICER CONSULTING LIMITED (REGISTERED NUMBER: 04150975)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024


12.

RELATED PARTY DISCLOSURES



During the year Pope & Meads Limited, a company in which most of the directors are also directors and shareholders, provided necessary transactions charging on an arms length basis. The total amount charged in the year was £280,245 (2023: £364,561) of which £Nil (2023: £18,162) was outstanding at the balance sheet date.The company also provided necessary transactions to Pope & Meads Limited of £10,900 (2023: £10,339) of which £Nil (2023: £10,339) was outstanding at the balance sheet date.



The company has made various loans to Pope & Meads Limited with an amount outstanding at the balance sheet date of £740.000 (2023 : £1,140,000). It is anticipated the loan will be fully repaid over a ten year period. Interest of £21,680 (2023: £17,100) was received on this loan.



During the year Abbey Precision Limited, a company in which most of the directors are also directors and shareholders, provided necessary transactions charging on an arms length basis. The total amount charged in the year was £1,577 (2023: £Nil) of which £Nil (2023: £Nil) was outstanding at the balance sheet date.The company also provided necessary transactions to Abbey Precision Limited of £Nil (2023: £88,395) of which £Nil (2023: £Nil) was outstanding at the balance sheet date.



The company has made various loans to Abbey Precision Limited with an amount outstanding at the balance sheet date of £1,125,000 (2023 : £1,143,786). It is anticipated the loan will be fully repaid over a ten year period. Interest of £22,778 (2023: £18,000) was received on this loan.



During the year Algenuity Limited, a company in which most of the directors are also directors and shareholders, charged sales commission on an arms length basis. The total amount charged in the year was £73,042 (2023: £22,184) of which £Nil (2023: £Nil) was outstanding at the balance sheet date.



During the year the company also provided Algenuity Limited, necessary transactions charging on an arms length basis. The total amount charged in the year was £54,052 (2023: £93,517) of which £58,901 (2023: £5,136) was outstanding at the balance sheet date.



The company has made various loans to Algenuity Limited with an amount outstanding at the balance sheet date of £2,500,000 (2023 : £2,200,000). It is anticipated the loan will be fully repaid over a ten year period. Interest of £10,652 (2023: £41,686) was received on this loan.


13.

ULTIMATE CONTROLLING PARTY



The controlling party is Spicer Holdings Limited.



The company is a wholly owned subsidiary of Spicer Holdings Limited, a company registered in England and Wales.