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Company Registration No. 05369173 (England and Wales)
S P S Pumps & Engineering Limited Unaudited accounts for the year ended 31 July 2024
S P S Pumps & Engineering Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
480,707 
487,387 
Current assets
Inventories
317,371 
42,368 
Debtors
421,507 
486,779 
Cash at bank and in hand
308,236 
475,288 
1,047,114 
1,004,435 
Creditors: amounts falling due within one year
(301,274)
(329,446)
Net current assets
745,840 
674,989 
Total assets less current liabilities
1,226,547 
1,162,376 
Creditors: amounts falling due after more than one year
(173,228)
(178,406)
Provisions for liabilities
Deferred tax
(8,732)
(8,944)
Net assets
1,044,587 
975,026 
Capital and reserves
Called up share capital
504 
504 
Profit and loss account
1,044,083 
974,522 
Shareholders' funds
1,044,587 
975,026 
For the year ending 31 July 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2025 and were signed on its behalf by
Paul Edgar Director Company Registration No. 05369173
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S P S Pumps & Engineering Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
S P S Pumps & Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 05369173. The registered office is 9 The Bridge Centre, St. Peters Road, Huntingdon, Cambridgeshire, PE29 7DA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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S P S Pumps & Engineering Limited Notes to the Accounts for the year ended 31 July 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2023
165,400 
At 31 July 2024
165,400 
Amortisation
At 1 August 2023
165,400 
At 31 July 2024
165,400 
Net book value
At 31 July 2024
- 
Goodwill is being written off in equal installments over its estimated economic life of 5 years.
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2023
448,269 
38,303 
110,705 
597,277 
Additions
- 
- 
8,500 
8,500 
Disposals
- 
- 
(5,500)
(5,500)
At 31 July 2024
448,269 
38,303 
113,705 
600,277 
Depreciation
At 1 August 2023
- 
36,546 
73,344 
109,890 
Charge for the year
- 
439 
14,741 
15,180 
On disposals
- 
- 
(5,500)
(5,500)
At 31 July 2024
- 
36,985 
82,585 
119,570 
Net book value
At 31 July 2024
448,269 
1,318 
31,120 
480,707 
At 31 July 2023
448,269 
1,757 
37,361 
487,387 
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S P S Pumps & Engineering Limited Notes to the Accounts for the year ended 31 July 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
392,915 
474,105 
Other debtors
28,592 
12,674 
421,507 
486,779 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
14,101 
23,001 
Trade creditors
155,760 
156,063 
Taxes and social security
102,569 
112,653 
Other creditors
28,844 
37,729 
301,274 
329,446 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
173,228 
178,406 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Loan advanced during the year. Interest has been charged at the average official rate.
5,203 
4,891 
5,203 
4,891 
5,203 
4,891 
5,203 
4,891 
10
Average number of employees
During the year the average number of employees was 16 (2023: 15).
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