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Registered number: 02509678
Speldhurst Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Davey Grover Ltd
Chartered Accountants
4 Fenice Court
Phoenix Business Park
St. Neots
Cambridgeshire
PE19 8EP
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—8
Page 1
Statement of Financial Position
Registered number: 02509678
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 425,634 474,364
425,634 474,364
CURRENT ASSETS
Stocks 6 21,860 47,078
Debtors 7 853,207 1,051,171
Cash at bank and in hand 436,797 200,253
1,311,864 1,298,502
Creditors: Amounts Falling Due Within One Year 8 (472,846 ) (410,961 )
NET CURRENT ASSETS (LIABILITIES) 839,018 887,541
TOTAL ASSETS LESS CURRENT LIABILITIES 1,264,652 1,361,905
Creditors: Amounts Falling Due After More Than One Year 9 (20,699 ) (125,314 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (97,687 ) (92,880 )
NET ASSETS 1,146,266 1,143,711
CAPITAL AND RESERVES
Called up share capital 12 100 100
Income Statement 1,146,166 1,143,611
SHAREHOLDERS' FUNDS 1,146,266 1,143,711
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr J W Boorman
Director
18 March 2025
The notes on pages 4 to 8 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Income Statement Total
£ £ £
As at 1 July 2022 100 1,140,704 1,140,804
Profit for the year and total comprehensive income - 194,907 194,907
Dividends paid - (192,000) (192,000)
As at 30 June 2023 and 1 July 2023 100 1,143,611 1,143,711
Profit for the year and total comprehensive income - 285,126 285,126
Dividends paid - (282,571) (282,571)
As at 30 June 2024 100 1,146,166 1,146,266
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Speldhurst Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02509678 . The registered office is 4 Fenice Court, Phoenix Business Park, Eaton Socon, St. Neots, Cambridgeshire, PE19 8EP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 36 (2023: 42)
36 42
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 13,000
As at 30 June 2024 13,000
Amortisation
As at 1 July 2023 13,000
As at 30 June 2024 13,000
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
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Page 6
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 July 2023 1,310,564
Additions 133,325
Disposals (185,250 )
As at 30 June 2024 1,258,639
Depreciation
As at 1 July 2023 836,200
Provided during the period 113,696
Disposals (116,891 )
As at 30 June 2024 833,005
Net Book Value
As at 30 June 2024 425,634
As at 1 July 2023 474,364
Included above are assets held under finance leases or hire purchase contracts with a net book value at 30 June 2024 of £177,502 (2023: £273,001). Depreciation of £60,198 (2023: £84,036) was charged against these assets for the year.
6. Stocks
2024 2023
£ £
Stock 21,860 47,078
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 202,933 224,091
Other debtors 650,274 827,080
853,207 1,051,171
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Page 7
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 92,903 139,088
Trade creditors 159,211 111,359
Other creditors 98,444 84,418
Taxation and social security 122,288 76,096
472,846 410,961
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 20,699 125,314
20,699 125,314
10. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 113,602 264,402
11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 92,903 139,088
Later than one year and not later than five years 20,699 125,314
113,602 264,402
113,602 264,402
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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Page 8
13. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 32,400 32,400
Later than one year and not later than five years 129,600 129,600
Later than five years 110,700 143,100
272,700 305,100
14. Related Party Transactions
At 30 June 2024 the directors had provided interest free loans to the company by way of their directors loan accounts, the balances at the reporting date are as follows:
Mr J W Boorman £Nil (2023: £30,987).
Mr T Boorman £12,543 (2023: £21,425).
15. Ultimate Controlling Party
The company's ultimate controlling party is Boorman Transport Solutions Limited by virtue of his ownership of 100% of the issued share capital in the company.
Included within other debtors at 30 June 2024 is £563,820 (2023: £724,092) owed by Boorman Transport Solutions Limited to Speldhurst Limited, this has been provided interest free.
Mr J W Boorman is the ultimate controlling party by virtue of his share ownership of Boorman Transport Solutions Limited.
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