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Registration number: 09908912

SPD-S Europe Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

SPD-S Europe Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

SPD-S Europe Limited

(Registration number: 09908912)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,365

6,069

Current assets

 

Debtors

5

21

20

Cash at bank and in hand

 

161,637

133,108

 

161,658

133,128

Creditors: Amounts falling due within one year

6

(26,911)

(13,463)

Net current assets

 

134,747

119,665

Total assets less current liabilities

 

140,112

125,734

Provisions for liabilities

(1,341)

(1,153)

Net assets

 

138,771

124,581

Capital and reserves

 

Called up share capital

100

100

Retained earnings

138,671

124,481

Shareholders' funds

 

138,771

124,581

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 March 2025
 

.........................................
Mr P Bridden
Director

 

SPD-S Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
United Kingdom

The principal place of business is:
SPD-S Europe Limited
32 High Street
Graveley
Hitchin
Herts
SG4 7LA

These financial statements were authorised for issue by the director on 20 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

 

SPD-S Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

SPD-S Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

SPD-S Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

21,704

21,704

Additions

2,068

2,068

At 31 December 2024

23,772

23,772

Depreciation

At 1 January 2024

15,635

15,635

Charge for the year

2,772

2,772

At 31 December 2024

18,407

18,407

Carrying amount

At 31 December 2024

5,365

5,365

At 31 December 2023

6,069

6,069

5

Debtors

Current

2024
£

2023
£

Prepayments

21

20

 

21

20

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

19,727

11,599

Accruals and deferred income

1,460

1,345

Other creditors

5,724

519

26,911

13,463

7

Share capital

Allotted, called up and fully paid shares

 

SPD-S Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Dividends

2024

2023

£

£

Interim dividend of £377.00 (2023 - £330.00) per ordinary share

37,700

33,000

 

 

9

Related party transactions

At the balance sheet date, the company was owed £5,725 (2023: owed £520) by the director and majority shareholder Paul Bridden. There is no interest charged on this loan, and there are no terms relating to the repayment of capital.

10

Ultimate controlling party

The ultimate controlling party is Paul Bridden by virtue of his majority shareholding.