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REGISTERED NUMBER: 05157629 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

SPRING (EUROPE) LIMITED

SPRING (EUROPE) LIMITED (REGISTERED NUMBER: 05157629)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SPRING (EUROPE) LIMITED

Company Information
for the Year Ended 31 May 2024







DIRECTORS: P W Napper
Mrs J Napper
A P Gatt





SECRETARY: Mrs J Napper





REGISTERED OFFICE: Units 9 & 14
April Court
Sybron Way
Crowborough
East Sussex
TN6 3DZ





REGISTERED NUMBER: 05157629 (England and Wales)





ACCOUNTANTS: Lees Chartered Accountants
The Granary
Brewer Street
Bletchingley
Surrey
RH1 4QP

SPRING (EUROPE) LIMITED (REGISTERED NUMBER: 05157629)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 100,000 112,500
Tangible assets 5 141,356 107,313
241,356 219,813

CURRENT ASSETS
Stocks 209,999 100,633
Debtors 6 338,738 239,361
Cash at bank and in hand 220,504 49,264
769,241 389,258
CREDITORS
Amounts falling due within one year 7 316,635 162,492
NET CURRENT ASSETS 452,606 226,766
TOTAL ASSETS LESS CURRENT
LIABILITIES

693,962

446,579

CREDITORS
Amounts falling due after more than one
year

8

(76,655

)

(146,322

)

PROVISIONS FOR LIABILITIES (35,339 ) (20,389 )
NET ASSETS 581,968 279,868

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 581,958 279,858
SHAREHOLDERS' FUNDS 581,968 279,868

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 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.

SPRING (EUROPE) LIMITED (REGISTERED NUMBER: 05157629)

Statement of Financial Position - continued
31 May 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 19 February 2025 and were signed on its behalf by:





Mrs J Napper - Director


SPRING (EUROPE) LIMITED (REGISTERED NUMBER: 05157629)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Spring (Europe) 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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 statement of financial position date.


SPRING (EUROPE) LIMITED (REGISTERED NUMBER: 05157629)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 19 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 141,595
AMORTISATION
At 1 June 2023 29,095
Charge for year 12,500
At 31 May 2024 41,595
NET BOOK VALUE
At 31 May 2024 100,000
At 31 May 2023 112,500

SPRING (EUROPE) LIMITED (REGISTERED NUMBER: 05157629)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 270,392
Additions 58,987
At 31 May 2024 329,379
DEPRECIATION
At 1 June 2023 163,079
Charge for year 24,944
At 31 May 2024 188,023
NET BOOK VALUE
At 31 May 2024 141,356
At 31 May 2023 107,313

6. DEBTORS
31.5.24 31.5.23
£    £   
Amounts falling due within one year:
Trade debtors 268,729 168,562
Other debtors 64,772 65,562
333,501 234,124

Amounts falling due after more than one year:
Other debtors 5,237 5,237

Aggregate amounts 338,738 239,361

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 25,210 25,000
Trade creditors 98,816 71,895
Taxation and social security 191,849 64,104
Other creditors 760 1,493
316,635 162,492

SPRING (EUROPE) LIMITED (REGISTERED NUMBER: 05157629)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 76,655 146,322

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 49,889

9. RELATED PARTY DISCLOSURES

As at 31 May 2024 the company was owed £64,772 by Professional Applications Limited . Mr P.Napper, Mrs J.Napper and Mr A. Gatt hold shares and are all directors of this company.