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Registration number: 09473288

Springfield Supplies & Projects Holdings Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 April 2024

 

Springfield Supplies & Projects Holdings Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Springfield Supplies & Projects Holdings Limited

(Registration number: 09473288)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,133,528

1,152,816

Investments

5

50,000

50,000

 

1,183,528

1,202,816

Current assets

 

Debtors

970,316

636,443

Cash at bank and in hand

 

2,422

2,422

 

972,738

638,865

Creditors: Amounts falling due within one year

6

(772,153)

(463,528)

Net current assets

 

200,585

175,337

Total assets less current liabilities

 

1,384,113

1,378,153

Creditors: Amounts falling due after more than one year

6

(1,178,957)

(1,203,327)

Provisions for liabilities

(29,013)

(4,459)

Net assets

 

176,143

170,367

Capital and reserves

 

Called up share capital

50,000

50,000

Profit and loss account

126,143

120,367

Total equity

 

176,143

170,367

 

Springfield Supplies & Projects Holdings Limited

(Registration number: 09473288)
Abridged Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 11 October 2024 and signed on its behalf by:
 

Mr S P Baker

Director

 

Springfield Supplies & Projects Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Park View
Wotton Road
Rangeworthy
Bristol
BS37 7LZ

These financial statements were authorised for issue by the Board on 11 October 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% Straight Line

 

Springfield Supplies & Projects Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Investments

Investments in equity shares where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit or loss account. Investments in equity shares where fair value cannot be measured reliably are measured at cost less impairment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Tangible assets

Total
£

Cost or valuation

At 1 May 2023

1,229,969

At 30 April 2024

1,229,969

Depreciation

At 1 May 2023

77,152

Charge for the year

19,289

At 30 April 2024

96,441

Carrying amount

At 30 April 2024

1,133,528

At 30 April 2023

1,152,816

5

Investments

Total
£

Cost or valuation

At 1 May 2023

50,000

Provision

Carrying amount

At 30 April 2024

50,000

At 30 April 2023

50,000

 

Springfield Supplies & Projects Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Springfield Supplies & Projects Limited

Park View, Wotton Road
Bristol, BS37 7LZ

England and Wales

Ordinary

100%

100%

Springfield Supplies & Projects Limited

The principal activity of Springfield Supplies & Projects Limited is that of the manufacture and installation of business and educational furniture, equipment, supplies and supporting design services..

6

Creditors: amounts falling due within one year

Creditors include bank loans of £23,600 (2023 - £22,800). Bank loans are secured by way of a fixed charge against the property to which they relate.

7

Creditors: amounts falling due after more than one year

Creditors include bank loans of £478,957 (2023 - £503,327). Bank loans are secured by way of a fixed charge against the property to which they relate.

8

Related party transactions

Advances to directors


Mr S P Baker

During the period Mr S P Baker went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £91,521 (2023 - £68,766). At the year end the amount outstanding from Mr S P Baker was £56,190 (2023 - £30,243). Interest has been charged at 2.25%.

Other transactions with directors
Included within other creditors are loans totaling £84,566 (2023 - £ Nil) made from D Baker, C Baker and J Baker whom are children of the directors of the company. Interest has been charged at 10.00%.

Summary of transactions with all subsidiaries

Springfield Supplies and Projects Limited
 At the end of the period the amount due to the parent from the subsidary was £914,125 (2023 £606,199).