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REGISTERED NUMBER: 00883126 (England and Wales)












SPARKFORD CHEMICALS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






SPARKFORD CHEMICALS LIMITED (REGISTERED NUMBER: 00883126)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPARKFORD CHEMICALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: T M Gibbons
S D Gibbons



SECRETARY: S D Gibbons



REGISTERED OFFICE: Sparkford
Hazeley Road
Twyford
Winchester
Hampshire
SO21 1PX



REGISTERED NUMBER: 00883126 (England and Wales)



BANKERS: National Westminster Bank
105 High Street
Winchester
SO23 9AW



SOLICITORS: Paris Smith
1 London Road
Southampton
Hampshire
SO15 2AE

SPARKFORD CHEMICALS LIMITED (REGISTERED NUMBER: 00883126)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 17,263 53,320
Investments 5 200 200
17,463 53,520

CURRENT ASSETS
Stocks 247,712 240,638
Debtors 6 2,178,932 1,467,947
Cash at bank 552,010 1,191,474
2,978,654 2,900,059
CREDITORS
Amounts falling due within one year 7 (1,562,962 ) (1,511,975 )
NET CURRENT ASSETS 1,415,692 1,388,084
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,433,155

1,441,604

PROVISIONS FOR LIABILITIES (4,316 ) (13,330 )
NET ASSETS 1,428,839 1,428,274

CAPITAL AND RESERVES
Called up share capital 3,900 3,900
Capital redemption reserve 1,200 1,200
Retained earnings 1,423,739 1,423,174
SHAREHOLDERS' FUNDS 1,428,839 1,428,274

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

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

SPARKFORD CHEMICALS LIMITED (REGISTERED NUMBER: 00883126)

BALANCE SHEET - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





S D Gibbons - Director


SPARKFORD CHEMICALS LIMITED (REGISTERED NUMBER: 00883126)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Sparkford Chemicals 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically dispatched to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 5 years
Motor vehicles - 25% Reducing balance
Computer equipment - 15% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

SPARKFORD CHEMICALS LIMITED (REGISTERED NUMBER: 00883126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 August 2023 13,028 71,858 55,791 140,677
Additions - - 1,899 1,899
Disposals - (71,205 ) - (71,205 )
At 31 July 2024 13,028 653 57,690 71,371
DEPRECIATION
At 1 August 2023 13,028 35,648 38,681 87,357
Charge for year - 99 2,044 2,143
Eliminated on disposal - (35,392 ) - (35,392 )
At 31 July 2024 13,028 355 40,725 54,108
NET BOOK VALUE
At 31 July 2024 - 298 16,965 17,263
At 31 July 2023 - 36,210 17,110 53,320

SPARKFORD CHEMICALS LIMITED (REGISTERED NUMBER: 00883126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 August 2023
and 31 July 2024 400,200
PROVISIONS
At 1 August 2023
and 31 July 2024 400,000
NET BOOK VALUE
At 31 July 2024 200
At 31 July 2023 200

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 2,028,705 1,320,171
Other debtors 150,227 147,776
2,178,932 1,467,947

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 962,073 781,735
Taxation and social security 72,105 79,059
Other creditors 528,784 651,181
1,562,962 1,511,975

8. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had commitments under non-cancellable operating leases totalling £82,346 (2023: £63,292).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, advances totalling £79,447 (2023: £nil) were made to the company's directors. £nil (2023: £nil) was repaid prior to the year-end. The balance outstanding at the year-end was £79,447 (2023: £nil). No interest is payable and the advances are repayable on demand. The advances have since been cleared by post year-end rewards.