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Registered number: 07317206










SPECTRUM SUPPLY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SPECTRUM SUPPLY LIMITED
REGISTERED NUMBER: 07317206

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
750
1,056

Tangible assets
 5 
490,024
395,869

  
490,774
396,925

Current assets
  

Stocks
  
800,929
724,293

Debtors: amounts falling due within one year
 6 
497,852
311,183

Cash at bank and in hand
 7 
265,565
334,229

  
1,564,346
1,369,705

Creditors: amounts falling due within one year
 8 
(982,778)
(735,912)

Net current assets
  
 
 
581,568
 
 
633,793

Total assets less current liabilities
  
1,072,342
1,030,718

Provisions for liabilities
  

Deferred tax
  
(43,207)
(3,315)

  
 
 
(43,207)
 
 
(3,315)

Net assets
  
1,029,135
1,027,403


Capital and reserves
  

Called up share capital 
  
112
112

Share premium account
  
25,164
25,164

Profit and loss account
  
1,003,859
1,002,127

  
1,029,135
1,027,403


Page 1

 
SPECTRUM SUPPLY LIMITED
REGISTERED NUMBER: 07317206
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Nigel Hill
Director

Date: 12 March 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
SPECTRUM SUPPLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Spectrum Supply Limited is a private company, limited by shares, registered in England and Wales. The company's registered office address is:
31 Ystrad Road
Swansea West Business Park
SA5 4BT

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 directors are satisfied with the results of the company for the year, post year end results and
projected profitability levels. However, given that UK inflation is increasing at a significant rate, the
directors recognise that there will be pressure on all aspects of the company's cost base, along with
the related impact on sales demand and growth. Therefore the directors continue to closely monitor
projected profitability and cash flow.
The directors have reviewed future cash flow on alternative scenarios and consider that it appropriate to prepare the financial statements using the going concern basis of accounting.
Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose
related party transactions with wholly owned group companies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

The company's functional and presentational currency is GBP. 
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.

 
2.3

Revenue

Turnover is the amount derived from ordinary activities and is stated net of trade discounts, other
sales taxes and VAT. Revenue is recognised on the dispatch of goods to customers.
Other income
Other income represents revenue generated by the company that does not relate to its principal
activity. Other income is recognised when the services are provided. Rental income is recognised
evenly over the term of the underlying lease agreement.

Page 3

 
SPECTRUM SUPPLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

Current tax, including UK corporation tax and foreign tax, is provided at amounts expected to be
paid(or recovered) using the tax rates and laws that have been enacted or substantively enacted by
the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
A net deferred tax asset is regarded as recoverable and therefore recognised only to the extent that,
on the basis of all available evidence, it can be regarded as more likely than not that there will be
suitable taxable profits from which the future reversal of the underlying timing differences can be
deducted.

 
2.8

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.
Patents and licences are being amortised evenly over their estimated useful life of ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
SPECTRUM SUPPLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
2%
Plant and machinery
-
25%
Motor vehicles
-
25%
Fixtures and fittings
-
25%
Office equipment
-
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost includes purchase price less
discounts where applicable. Net realisable value is based on estimated selling price. Provision is
made for obsolete and slow moving items where appropriate.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
SPECTRUM SUPPLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.16

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet
and depreciated over their estimated useful lives.
The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

  
2.17

Financial instruments

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Page 6

 
SPECTRUM SUPPLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.18

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.
Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.


3.


Employees

The average monthly number of employees, including directors, during the year was 33 (2023 - 31).

Page 7

 
SPECTRUM SUPPLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Patents

£



Cost


At 1 January 2024
3,060



At 31 December 2024

3,060



Amortisation


At 1 January 2024
2,004


Charge for the year on owned assets
306



At 31 December 2024

2,310



Net book value



At 31 December 2024
750



At 31 December 2023
1,056



Page 8

 
SPECTRUM SUPPLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2024
328,526
299,728
175,975
54,578
73,182
931,989


Additions
11,687
26,122
94,802
8,972
33,923
175,506


Disposals
-
-
(73,833)
-
-
(73,833)



At 31 December 2024

340,213
325,850
196,944
63,550
107,105
1,033,662



Depreciation


At 1 January 2024
15,239
252,832
164,830
38,204
65,015
536,120


Charge for the year on owned assets
6,715
25,496
19,783
8,506
11,289
71,789


Disposals
-
-
(64,271)
-
-
(64,271)



At 31 December 2024

21,954
278,328
120,342
46,710
76,304
543,638



Net book value



At 31 December 2024
318,259
47,522
76,602
16,840
30,801
490,024



At 31 December 2023
313,287
46,896
11,145
16,374
8,167
395,869


6.


Debtors

2024
2023
£
£


Trade debtors
336,242
252,288

Other debtors
-
1,000

Prepayments and accrued income
161,610
57,895

497,852
311,183


Page 9

 
SPECTRUM SUPPLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
265,565
334,229

265,565
334,229



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
99,046
109,177

Trade creditors
404,629
152,372

Amounts owed to group undertakings
91,547
101,000

Other taxation and social security
81,522
73,371

Obligations under finance lease and hire purchase contracts
-
11,426

Other creditors
282,309
267,341

Accruals and deferred income
23,725
21,225

982,778
735,912



9.


Capital commitments


At 31 December 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
173,307
-

173,307
-


10.Other financial commitments

At the balance sheet date, the company has commitments under non cancellable operating leases totalling £121,173 (2023 - £102,018).
The company had also committed to costs for goods and services delivered in 2024, as follows:
Stock purchases - £120,955 (2023 - £103,560)
 

Page 10

 
SPECTRUM SUPPLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Related party transactions

At the balance sheet date, the company owed its directors £155,571 (2023: £143,341) and owed its parent company shareholders £126,738 (2023: £124,000). The company also owed other related parties £91,547 (2023: £109,177).
Balances are interest free, due within one year and unsecured. Such loans represent dividends credited and loans advanced, less cash withdrawn from the company.


12.


Controlling party

The ultimate controlling party is Umbra Holdings Limited.

 
Page 11