Registered number
06472097
SPV Special Projects Limited
Unaudited Filleted Accounts
31 January 2024
SPV Special Projects Limited
Registered number: 06472097
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 57,559 61,685
Current assets
Stocks 62,000 266,000
Debtors 4 1,805,807 733,843
Cash at bank and in hand 833,200 753,744
2,701,007 1,753,587
Creditors: amounts falling due within one year 5 (1,079,608) (664,490)
Net current assets 1,621,399 1,089,097
Total assets less current liabilities 1,678,958 1,150,782
Creditors: amounts falling due after more than one year 6 - (12,017)
Provisions for liabilities (14,390) (15,421)
Net assets 1,664,568 1,123,344
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,664,566 1,123,342
Shareholder's funds 1,664,568 1,123,344
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs S Evans
Director
Approved by the board on 17 October 2024
SPV Special Projects Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 48 40
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 44,478 66,917 111,395
Additions 15,061 - 15,061
At 31 January 2024 59,539 66,917 126,456
Depreciation
At 1 February 2023 26,528 23,182 49,710
Charge for the year 8,253 10,934 19,187
At 31 January 2024 34,781 34,116 68,897
Net book value
At 31 January 2024 24,758 32,801 57,559
At 31 January 2023 17,950 43,735 61,685
4 Debtors 2024 2023
£ £
Trade debtors 612,385 474,738
Amounts owed by associated undertakings and undertakings in which the company has a participating interest 786,707 63,808
Other debtors 406,715 195,297
1,805,807 733,843
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 12,017 11,464
Trade creditors 666,225 372,944
Amounts owed to associated undertakings and undertakings in which the company has a participating interest 110 1,000
Taxation and social security costs 375,275 259,370
Other creditors 25,981 19,712
1,079,608 664,490
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 12,017
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 87,507 94,981
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs S Evans
Loan account 2,447 350,012 (38,517) 313,942
2,447 350,012 (38,517) 313,942
Interest is being charged on this loan of 2.0% - 2.25%.
9 Related party transactions
Transactions with Howard Evans Rooding & Cladding Limited
The director's husband, Mr H Evans owns 100% of the share capital in Howard Evans Roofing & Cladding Limited.
During the year the company made sales of £3,304,237 and made purchases of £1,500 from Howard Evans Roofing & Cladding Limited.
At 31 January 2024 Howard Evans Roofing & Cladding Limited owed the company £730,178.
Transactions with SPV Roofing & Cladding Limited
Mr H Evans and his daughter, Mrs K Whatley, each own 33% of the share capital in SPV Roofing & Cladding Limited.
During the year the company paid rent of £11,000 to SPV Roofing & Cladding Limited.
Transactions with SPV Training Limited
Mrs K Whatley owns 100% of the share capital in SPV Training Limited.
During the year the company made sales of £1,832 and made purchases of £60,000 from SPV Training Limited.
10 Controlling party
The company is controlled by Mrs S Evans.
11 Other information
SPV Special Projects Limited is a private company limited by shares and incorporated in England. Its registered office is:
Phoenix Consortia
Westgate
Aldridge
Walsall
WS9 8EX
SPV Special Projects Limited 06472097 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 Mrs S Evans No description of principal activity 06472097 2022-02-01 2023-01-31 06472097 core:WithinOneYear 2023-01-31 06472097 core:AfterOneYear 2023-01-31 06472097 core:ShareCapital 2023-01-31 06472097 core:RetainedEarningsAccumulatedLosses 2023-01-31 06472097 core:AllPeriods 2023-01-31 06472097 2023-02-01 2024-01-31 06472097 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06472097 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 06472097 bus:Director40 2023-02-01 2024-01-31 06472097 1 2023-02-01 2024-01-31 06472097 2 2023-02-01 2024-01-31 06472097 core:PlantMachinery 2023-02-01 2024-01-31 06472097 core:Vehicles 2023-02-01 2024-01-31 06472097 bus:Director1 2023-02-01 2024-01-31 06472097 bus:Director1 1 2023-02-01 2024-01-31 06472097 countries:England 2023-02-01 2024-01-31 06472097 bus:FRS102 2023-02-01 2024-01-31 06472097 bus:FilletedAccounts 2023-02-01 2024-01-31 06472097 2024-01-31 06472097 core:WithinOneYear 2024-01-31 06472097 core:AfterOneYear 2024-01-31 06472097 core:ShareCapital 2024-01-31 06472097 core:RetainedEarningsAccumulatedLosses 2024-01-31 06472097 core:PlantMachinery 2024-01-31 06472097 core:Vehicles 2024-01-31 06472097 core:AllPeriods 2024-01-31 06472097 bus:Director1 1 2024-01-31 06472097 2023-01-31 06472097 core:PlantMachinery 2023-01-31 06472097 core:Vehicles 2023-01-31 06472097 bus:Director1 1 2023-01-31 iso4217:GBP xbrli:pure