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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SP SERVICES (FABRICATIONS) 2007 LIMITED

SP SERVICES (FABRICATIONS) 2007 LIMITED (REGISTERED NUMBER: 06247299)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

SP SERVICES (FABRICATIONS) 2007 LIMITED

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTOR: S Liversidge





REGISTERED OFFICE: 70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN





REGISTERED NUMBER: 06247299 (England and Wales)





ACCOUNTANTS: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

SP SERVICES (FABRICATIONS) 2007 LIMITED (REGISTERED NUMBER: 06247299)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 580,726 698,726

CURRENT ASSETS
Stocks 3,000 5,000
Debtors 6 791,285 135,863
Cash at bank 321,609 588,639
1,115,894 729,502
CREDITORS
Amounts falling due within one year 7 287,298 147,561
NET CURRENT ASSETS 828,596 581,941
TOTAL ASSETS LESS CURRENT LIABILITIES 1,409,322 1,280,667

CREDITORS
Amounts falling due after more than one year 8 (21,712 ) -

PROVISIONS FOR LIABILITIES (10,379 ) (6,238 )
NET ASSETS 1,377,231 1,274,429

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,377,230 1,274,428
SHAREHOLDERS' FUNDS 1,377,231 1,274,429

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 26 September 2024 and were signed by:




S Liversidge - Director


SP SERVICES (FABRICATIONS) 2007 LIMITED (REGISTERED NUMBER: 06247299)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024

1. STATUTORY INFORMATION

SP Services (Fabrications) 2007 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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 - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% 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 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 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.

SP SERVICES (FABRICATIONS) 2007 LIMITED (REGISTERED NUMBER: 06247299)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

3. 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 642,131 68,710 50,807
Additions - 25,000 -
Disposals (263,706 ) - -
At 31 May 2024 378,425 93,710 50,807
DEPRECIATION
At 1 June 2023 87,841 27,673 27,215
Charge for year 7,569 8,656 2,359
Eliminated on disposal (6,464 ) - -
At 31 May 2024 88,946 36,329 29,574
NET BOOK VALUE
At 31 May 2024 289,479 57,381 21,233
At 31 May 2023 554,290 41,037 23,592

SP SERVICES (FABRICATIONS) 2007 LIMITED (REGISTERED NUMBER: 06247299)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 118,802 5,105 885,555
Additions 183,430 - 208,430
Disposals (17,712 ) - (281,418 )
At 31 May 2024 284,520 5,105 812,567
DEPRECIATION
At 1 June 2023 39,806 4,294 186,829
Charge for year 38,713 544 57,841
Eliminated on disposal (6,365 ) - (12,829 )
At 31 May 2024 72,154 4,838 231,841
NET BOOK VALUE
At 31 May 2024 212,366 267 580,726
At 31 May 2023 78,996 811 698,726

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 123,430
At 31 May 2024 123,430
DEPRECIATION
Charge for year 7,714
At 31 May 2024 7,714
NET BOOK VALUE
At 31 May 2024 115,716

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 138,594 117,883
Amounts owed by associates 639,299 -
Other debtors 550 4,222
Prepayments 12,842 13,758
791,285 135,863

SP SERVICES (FABRICATIONS) 2007 LIMITED (REGISTERED NUMBER: 06247299)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 46 -
Hire purchase contracts 10,815 -
Trade creditors 22,502 17,318
Tax 50,198 29,297
Social security and other taxes 2,383 2,604
VAT 56,137 42,282
Other creditors 124 3,059
Directors' current accounts 133,939 37,811
Deferred income - 8,035
Accrued expenses 11,154 7,155
287,298 147,561

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 21,712 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 46 -
Hire purchase contracts 32,527 -
32,573 -

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SP SERVICES (FABRICATIONS) 2007 LIMITED

The following reproduces the text of the report prepared for the director 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 Director 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 SP Services (Fabrications) 2007 Limited for the year ended 31 May 2024 which comprise the Statement of Income and Retained Earnings, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of SP Services (Fabrications) 2007 Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SP Services (Fabrications) 2007 Limited and state those matters that we have agreed to state to the director of SP Services (Fabrications) 2007 Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that SP Services (Fabrications) 2007 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 SP Services (Fabrications) 2007 Limited. You consider that SP Services (Fabrications) 2007 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 SP Services (Fabrications) 2007 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.






Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN


30 September 2024