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REGISTERED NUMBER: 03844341 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

SPAX PERFORMANCE LIMITED

SPAX PERFORMANCE LIMITED (REGISTERED NUMBER: 03844341)

Contents of the Financial Statements
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPAX PERFORMANCE LIMITED

Company Information
for the year ended 30 September 2024







Directors: F A Michaux
S J Edwards
T K Shakeshaft





Registered office: Unit 2 Launton Business Centre
Murdock Road
Bicester
Oxfordshire
OX26 4PL





Registered number: 03844341 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

SPAX PERFORMANCE LIMITED (REGISTERED NUMBER: 03844341)

Balance Sheet
30 September 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 6,927 10,608
6,927 10,608

Current assets
Stocks 602,862 564,892
Debtors 6 153,376 134,160
Cash at bank and in hand 44,589 80,189
800,827 779,241
Creditors
Amounts falling due within one year 7 175,795 215,516
Net current assets 625,032 563,725
Total assets less current liabilities 631,959 574,333

Creditors
Amounts falling due after more than one
year

8

(91,151

)

(31,151

)

Provisions for liabilities (123 ) (720 )
Net assets 540,685 542,462

Capital and reserves
Called up share capital 176,240 176,240
Share premium 199,507 199,507
Retained earnings 164,938 166,715
Shareholders' funds 540,685 542,462

SPAX PERFORMANCE LIMITED (REGISTERED NUMBER: 03844341)

Balance Sheet - continued
30 September 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 25 March 2025 and were signed on its behalf by:





F A Michaux - Director


SPAX PERFORMANCE LIMITED (REGISTERED NUMBER: 03844341)

Notes to the Financial Statements
for the year ended 30 September 2024


1. Statutory information

Spax Performance 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.

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

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 - at varying rates on cost

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 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.

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.

SPAX PERFORMANCE LIMITED (REGISTERED NUMBER: 03844341)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


2. Accounting policies - continued

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


Foreign currencies
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.

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.

Going concern
The directors have made an assessment of the company's ability to continue as a going concern and have reviewed and considered relevant information, particularly in response to the impact on their business of possible scenarios brought on by the impact of COVID-19, as well as the measures that they can take to mitigate that impact. Based on this assessment, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

3. Employees and directors

The average number of employees during the year was 17 (2023 - 16 ) .

4. Intangible fixed assets
Other
intangible
assets
£
Cost
At 1 October 2023
and 30 September 2024 27,876
Amortisation
At 1 October 2023
and 30 September 2024 27,876
Net book value
At 30 September 2024 -
At 30 September 2023 -

SPAX PERFORMANCE LIMITED (REGISTERED NUMBER: 03844341)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


5. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£ £ £
Cost
At 1 October 2023 8,903 429,952 438,855
Additions - 2,127 2,127
At 30 September 2024 8,903 432,079 440,982
Depreciation
At 1 October 2023 8,903 419,344 428,247
Charge for year - 5,808 5,808
At 30 September 2024 8,903 425,152 434,055
Net book value
At 30 September 2024 - 6,927 6,927
At 30 September 2023 - 10,608 10,608

The directors have decided that plant and machinery has a useful expected life of 4 - 10 years and is being depreciated at either 25% or 10%, depending on the nature of the item.

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 81,148 61,758
Other debtors 72,228 72,402
153,376 134,160

7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 60,730 39,452
Taxation and social security 26,664 40,864
Other creditors 88,401 135,200
175,795 215,516

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 91,151 31,151

SPAX PERFORMANCE LIMITED (REGISTERED NUMBER: 03844341)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


9. Other financial commitments

The company had commitments under non-cancellable operating leases, which amounted to £102,496 per annum at 30 September 2024 (2023 - £103,448 per annum.)