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Company No: 13773787 (England and Wales)

SPARX MACHINE TOOLS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

SPARX MACHINE TOOLS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

SPARX MACHINE TOOLS LIMITED

BALANCE SHEET

As at 31 December 2024
SPARX MACHINE TOOLS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 4,602 0
Tangible assets 4 44,444 0
49,046 0
Current assets
Stocks 5 180,668 178,596
Debtors 6 19,996 13,869
Cash at bank and in hand 33,588 110,805
234,252 303,270
Creditors: amounts falling due within one year 7 ( 46,482) ( 101,896)
Net current assets 187,770 201,374
Total assets less current liabilities 236,816 201,374
Creditors: amounts falling due after more than one year 8 ( 13,195) 0
Net assets 223,621 201,374
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 223,521 201,274
Total shareholder's funds 223,621 201,374

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 financial statements of Sparx Machine Tools Limited (registered number: 13773787) were approved and authorised for issue by the Director on 19 May 2025. They were signed on its behalf by:

M A Trotter
Director
SPARX MACHINE TOOLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
SPARX MACHINE TOOLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sparx Machine Tools Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 51 Holton Road Holton Heath Trading Park, Poole, BH16 6LT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Taxation

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 the other comprehensive income.

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

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 5 years straight line
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 4 - 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 1

3. Intangible assets

Website costs Total
£ £
Cost
At 01 January 2024 0 0
Additions 4,680 4,680
At 31 December 2024 4,680 4,680
Accumulated amortisation
At 01 January 2024 0 0
Charge for the financial year 78 78
At 31 December 2024 78 78
Net book value
At 31 December 2024 4,602 4,602
At 31 December 2023 0 0

4. Tangible assets

Plant and machinery Computer equipment Total
£ £ £
Cost
At 01 January 2024 0 0 0
Additions 47,306 499 47,805
At 31 December 2024 47,306 499 47,805
Accumulated depreciation
At 01 January 2024 0 0 0
Charge for the financial year 3,292 69 3,361
At 31 December 2024 3,292 69 3,361
Net book value
At 31 December 2024 44,014 430 44,444
At 31 December 2023 0 0 0

5. Stocks

2024 2023
£ £
Stocks 180,668 178,596

6. Debtors

2024 2023
£ £
Trade debtors 13,309 12,191
Other debtors 6,687 1,678
19,996 13,869

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 10,048 57,981
Taxation and social security 5,107 40,965
Obligations under finance leases and hire purchase contracts 8,333 0
Other creditors 22,994 2,950
46,482 101,896

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 13,195 0

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100