Company registration number 09610165 (England and Wales)
SPRING OPERATIONS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SPRING OPERATIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SPRING OPERATIONS LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
15,630,843
12,189,781
Cash at bank and in hand
84,732
93,269
15,715,575
12,283,050
Creditors: amounts falling due within one year
5
(14,707,841)
(11,539,788)
Net current assets
1,007,734
743,262
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
1,007,634
743,162
Total equity
1,007,734
743,262

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 4 April 2025 and are signed on its behalf by:
S D Miller-Bourke
Director
Company registration number 09610165 (England and Wales)
SPRING OPERATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

Spring Operations Limited is a private company limited by shares incorporated in England and Wales. The registered office is Sunley House, 4 Bedford Park, Croydon, CR0 2AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are presented in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

This turnover of this company is generated by sales to a fellow group company and if that company were to cease trading for any reason then this would impact this company's ability to continue as a going concern. The directors have a reasonable expectation that the fellow subsidiary will continue in operational existence for the foreseeable future and therefore these financial statements are prepared on the going concern basis.

1.3
Turnover

Turnover represents a recharge of expenses on a costs plus basis to a related party.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
50% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.

 

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

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

SPRING OPERATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

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

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
33
30
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023
43,044
Disposals
(43,044)
At 30 September 2024
-
0
Depreciation and impairment
At 1 October 2023
43,044
Eliminated in respect of disposals
(43,044)
At 30 September 2024
-
0
Carrying amount
At 30 September 2024
-
0
At 30 September 2023
-
0
SPRING OPERATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
15,525,970
12,095,970
Other debtors
104,873
93,811
15,630,843
12,189,781

Amounts owed by group undertakings are interest free and repayable on demand.

5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
8,541
9,859
Amounts owed to group undertakings
14,302,963
11,240,308
Taxation and social security
57,020
53,469
Other creditors
339,317
236,152
14,707,841
11,539,788

There is a loan in a fellow group company which is secured by a fixed and floating charge over the assets and undertakings of the company. This security contains a negative pledge which means that the company will not create or agree to create or permit to subsist any security interest over the charged assets.

Amounts owed to group undertakings are interest free and repayable on demand.

6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of 1p each
3,725
3,725
37
37
B Ordinary shares of 1p each
3,725
3,725
37
37
C Ordinary shares of 1p each
2,250
2,250
23
23
D Ordinary shares of 1p each of 1p each
300
300
3
3
10,000
10,000
100
100
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

SPRING OPERATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
7
Audit report information
(Continued)
- 5 -
Senior Statutory Auditor:
Keir Singleton
Statutory Auditor:
S&W Partners Audit Limited
Date of audit report:
7 April 2025
8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
124,193
114,294
Between two and five years
10,349
104,770
134,542
219,064
9
Related party transactions

The company has taken advantage of the exemption permitted by FRS 102 section 1.AC.35 not to provide disclosures of transactions entered into with other wholly-owned members of the group.

10
Parent company

The immediate parent company is Olympia Partners Limited, a company incorporated in United Kingdom. Olympia Partners Limited is a wholly owned by Olympia Holdings Limited, a company incorporated in Isle of Man. Olympia Holdings Limited is wholly owned by CPP Olympia Limited, a company incorporated in Isle of Man. CPP Olympia Limited is ultimately controlled by Clearbell Property Partners III Limited Partnership, which is in turn controlled by Clearbell Property Partners III GP LLP, a wholly owned subsidiary of Clearbell Capital LLP. Clearbell Capital LLP is a Limited Liability Partnership, which is incorporated in United Kingdom and registered in England and Wales. Copies of the Clearbell Capital LLP financial statements are available from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ. 

 

The largest and smallest group of undertakings for which group financial statements have been drawn up including Spring Operations Limited is that headed by Olympia Partners Limited, whose financial statements are publicly available from Companies House.

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