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REGISTERED NUMBER: 01672509 (England and Wales)









SPUR ELECTRON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024






SPUR ELECTRON LIMITED (REGISTERED NUMBER: 01672509)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPUR ELECTRON LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024







DIRECTORS: Mrs S Snowdon
Mrs L Snowdon
J P Moth
Mrs C Chandler





REGISTERED OFFICE: Hayward House
Hayward Business Centre
New Lane
Havant
Hants
PO9 2NL





REGISTERED NUMBER: 01672509 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

SPUR ELECTRON LIMITED (REGISTERED NUMBER: 01672509)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
as restated
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 88,122 97,706
Tangible assets 5 98,058 125,433
186,180 223,139

CURRENT ASSETS
Stocks 28,185 87,356
Debtors 6 217,317 725,332
Cash at bank 359,418 5,357
604,920 818,045
CREDITORS
Amounts falling due within one year 7 927,365 1,005,107
NET CURRENT LIABILITIES (322,445 ) (187,062 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(136,265

)

36,077

CREDITORS
Amounts falling due after more than one
year

8

1,360,342

1,412,958
NET LIABILITIES (1,496,607 ) (1,376,881 )

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings (1,596,607 ) (1,476,881 )
(1,496,607 ) (1,376,881 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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.

SPUR ELECTRON LIMITED (REGISTERED NUMBER: 01672509)

BALANCE SHEET - continued
31 OCTOBER 2024


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 27 May 2025 and were signed on its behalf by:





Mrs S Snowdon - Director


SPUR ELECTRON LIMITED (REGISTERED NUMBER: 01672509)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024

1. STATUTORY INFORMATION

SPUR Electron 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.

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.
Land and buildings - in accordance with the property
Plant and machinery etc - 33% on cost, 20% on cost and 10% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

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

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

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


SPUR ELECTRON LIMITED (REGISTERED NUMBER: 01672509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 22 (2023 - 21 ) .

SPUR ELECTRON LIMITED (REGISTERED NUMBER: 01672509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023 139,086
Additions 6,982
At 31 October 2024 146,068
AMORTISATION
At 1 June 2023 41,380
Charge for period 16,566
At 31 October 2024 57,946
NET BOOK VALUE
At 31 October 2024 88,122
At 31 May 2023 97,706

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 25,896 1,212,113 1,238,009
Additions - 15,633 15,633
At 31 October 2024 25,896 1,227,746 1,253,642
DEPRECIATION
At 1 June 2023 25,896 1,086,680 1,112,576
Charge for period - 43,008 43,008
At 31 October 2024 25,896 1,129,688 1,155,584
NET BOOK VALUE
At 31 October 2024 - 98,058 98,058
At 31 May 2023 - 125,433 125,433

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 146,934 600,925
Other debtors 70,383 124,407
217,317 725,332

SPUR ELECTRON LIMITED (REGISTERED NUMBER: 01672509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 211,807 141,011
Trade creditors 96,105 332,911
Taxation and social security 181,060 81,852
Other creditors 438,393 449,333
927,365 1,005,107

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Bank loans 174,797 354,423
Other creditors 1,185,545 1,058,535
1,360,342 1,412,958

9. SECURED DEBTS

The bank loan and overdraft facility are secured by the following means:

- A fixed and floating charge over all the assets of the company.
- Guarantee given by the directors L A Snowdon and S H Snowdon, up to a maximum of £515,000
- First legal charge over the long leasehold property owned by the company's shareholders
- Postponement of the directors' loan in favour of the bank borrowings

Hire purchase liabilities are secured against the assets to which they relate.