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REGISTERED NUMBER: 03857034 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 October 2024

for

S P (Leicester) Limited

S P (Leicester) Limited (Registered number: 03857034)

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










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


S P (Leicester) Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: H D Clements
S P Clements
E L Hawkes
D C M Hawkes





REGISTERED OFFICE: Unit 10, Peckleton Lane Business Park
Peckleton Common
Peckleton
Leicester
Leicestershire
LE9 7RN





REGISTERED NUMBER: 03857034 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
S P (Leicester) Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of S P (Leicester) Limited for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of S P (Leicester) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of S P (Leicester) Limited and state those matters that we have agreed to state to the Board of Directors of S P (Leicester) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S P (Leicester) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that S P (Leicester) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of S P (Leicester) Limited. You consider that S P (Leicester) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of S P (Leicester) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


12 March 2025

S P (Leicester) Limited (Registered number: 03857034)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,408 5,535
Tangible assets 5 256,992 333,062
266,400 338,597

CURRENT ASSETS
Stocks 40,000 40,000
Debtors 6 1,172,602 763,584
Cash at bank and in hand 813,349 849,442
2,025,951 1,653,026
CREDITORS
Amounts falling due within one year 7 832,119 590,404
NET CURRENT ASSETS 1,193,832 1,062,622
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,460,232

1,401,219

CREDITORS
Amounts falling due after more than
one year

8

-

(6,745

)

PROVISIONS FOR LIABILITIES (40,460 ) (53,549 )
NET ASSETS 1,419,772 1,340,925

S P (Leicester) Limited (Registered number: 03857034)

Balance Sheet - continued
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,419,672 1,340,825
SHAREHOLDERS' FUNDS 1,419,772 1,340,925

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

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

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 12 March 2025 and were signed on its behalf by:





E L Hawkes - Director


S P (Leicester) Limited (Registered number: 03857034)

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


1. STATUTORY INFORMATION

S P (Leicester) 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 represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised on despatch of goods.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 20% on cost
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 33% straight line basis

Stocks
Stocks are valued at the estimated selling price less costs to complete and sell, 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 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.


S P (Leicester) Limited (Registered number: 03857034)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 42 (2023 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023 9,000
Additions 10,310
At 31 October 2024 19,310
AMORTISATION
At 1 November 2023 3,465
Charge for year 6,437
At 31 October 2024 9,902
NET BOOK VALUE
At 31 October 2024 9,408
At 31 October 2023 5,535

S P (Leicester) Limited (Registered number: 03857034)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 November 2023 136,506 1,781,858 75,727
Additions - 11,041 195
At 31 October 2024 136,506 1,792,899 75,922
DEPRECIATION
At 1 November 2023 95,070 1,535,750 63,025
Charge for year 11,118 64,287 3,225
At 31 October 2024 106,188 1,600,037 66,250
NET BOOK VALUE
At 31 October 2024 30,318 192,862 9,672
At 31 October 2023 41,436 246,108 12,702

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 46,807 57,434 2,098,332
Additions - 1,733 12,969
At 31 October 2024 46,807 59,167 2,111,301
DEPRECIATION
At 1 November 2023 17,110 54,315 1,765,270
Charge for year 7,424 2,985 89,039
At 31 October 2024 24,534 57,300 1,854,309
NET BOOK VALUE
At 31 October 2024 22,273 1,867 256,992
At 31 October 2023 29,697 3,119 333,062

S P (Leicester) Limited (Registered number: 03857034)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 1,133,473 705,976
Prepayments and accrued income 39,129 57,608
1,172,602 763,584

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts 6,745 52,597
Trade creditors 281,232 160,046
Amounts owed to group undertakings 3,773 3,773
Corporation tax 195,524 119,861
Social security and other taxes 62,456 48,694
VAT 150,002 105,153
Other creditors 102,166 80,628
Accruals and deferred income 30,221 19,652
832,119 590,404

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts - 6,745

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Hire purchase contracts 6,745 59,342

Assets financed by hire purchase are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary £1 100 100

S P (Leicester) Limited (Registered number: 03857034)

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


11. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £1,204,478 (2023 - 76,800).

12. ULTIMATE CONTROLLING PARTY

The parent company is SP (Leicester) Holdings Limited which is controlled by the directors of the company.