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REGISTERED NUMBER: 03995743 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

SPECTRUM ELECTRICAL & MECHANICAL
ENGINEERS LIMITED

SPECTRUM ELECTRICAL & MECHANICAL
ENGINEERS LIMITED (REGISTERED NUMBER: 03995743)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SPECTRUM ELECTRICAL & MECHANICAL
ENGINEERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: A Dorrian
A S Wood





REGISTERED OFFICE: 5 The Quadrant
Coventry
West Midlands
CV5 6ET





REGISTERED NUMBER: 03995743 (England and Wales)





AUDITORS: Flint & Thompson
Statutory Auditors
2 Manor Square
Solihull
West Midlands
B91 3PX

SPECTRUM ELECTRICAL & MECHANICAL
ENGINEERS LIMITED (REGISTERED NUMBER: 03995743)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 245,946 233,865

CURRENT ASSETS
Debtors 5 3,691,357 3,767,243
Cash at bank 376,057 737,740
4,067,414 4,504,983
CREDITORS
Amounts falling due within one year 6 3,529,250 4,017,257
NET CURRENT ASSETS 538,164 487,726
TOTAL ASSETS LESS CURRENT
LIABILITIES

784,110

721,591

CREDITORS
Amounts falling due after more than one
year

7

(69,810

)

(68,705

)

PROVISIONS FOR LIABILITIES (61,490 ) (29,093 )
NET ASSETS 652,810 623,793

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 652,610 623,593
SHAREHOLDERS' FUNDS 652,810 623,793

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 8 January 2025 and were signed on its behalf by:





A S Wood - Director


SPECTRUM ELECTRICAL & MECHANICAL
ENGINEERS LIMITED (REGISTERED NUMBER: 03995743)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Spectrum Electrical & Mechanical Engineers 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. 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.

Name of the parent of group
The parent of the smallest group preparing consolidated financial statements is Tower Holdings Limited. The registered office of Tower Holdings Limited is 5 The Quadrant, Coventry, CV1 2EL.

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.
Long leasehold - 25% Straight line
Fixtures and fittings - 20% per annum of net book value
Motor vehicles - 25% reducing balance
Computer equipment - 33% per annum of cost

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.

SPECTRUM ELECTRICAL & MECHANICAL
ENGINEERS LIMITED (REGISTERED NUMBER: 03995743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 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.

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 44 (2023 - 46 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 2,420 47,976 535,228 23,790 609,414
Additions - - 72,605 - 72,605
Disposals - - (14,385 ) - (14,385 )
At 30 April 2024 2,420 47,976 593,448 23,790 667,634
DEPRECIATION
At 1 May 2023 2,420 30,741 318,598 23,790 375,549
Charge for year - 3,447 55,477 - 58,924
Eliminated on disposal - - (12,785 ) - (12,785 )
At 30 April 2024 2,420 34,188 361,290 23,790 421,688
NET BOOK VALUE
At 30 April 2024 - 13,788 232,158 - 245,946
At 30 April 2023 - 17,235 216,630 - 233,865

SPECTRUM ELECTRICAL & MECHANICAL
ENGINEERS LIMITED (REGISTERED NUMBER: 03995743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 185,410
Additions 63,605
Transfer to ownership (13,015 )
At 30 April 2024 236,000
DEPRECIATION
At 1 May 2023 58,093
Charge for year 38,952
Transfer to ownership (12,303 )
At 30 April 2024 84,742
NET BOOK VALUE
At 30 April 2024 151,258
At 30 April 2023 127,317

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 250,699 340,669
Amounts owed by group undertakings 1,049,597 1,213,267
Other debtors 2,391,061 2,213,307
3,691,357 3,767,243

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 486,774 686,776
Hire purchase contracts 49,502 43,587
Trade creditors 1,568,204 1,811,022
Amounts owed to group undertakings 1,268,685 1,292,831
Taxation and social security 33,557 98,105
Other creditors 122,528 84,936
3,529,250 4,017,257

SPECTRUM ELECTRICAL & MECHANICAL
ENGINEERS LIMITED (REGISTERED NUMBER: 03995743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 69,810 68,705

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
100 Ordinary B £1 100 100
200 200

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Georgiades (Senior Statutory Auditor)
for and on behalf of Flint & Thompson

10. ULTIMATE CONTROLLING PARTY

The ultimate parent is Tower Holdings Limited.