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REGISTERED NUMBER: 02160651 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

SPRINT ELECTRIC LIMITED

SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPRINT ELECTRIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Dr M D Gardiner
G Keen
E J Prescott





REGISTERED OFFICE: Peregrine House
Ford Lane
Ford
Arundel
West Sussex
BN18 0DF





REGISTERED NUMBER: 02160651 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 106,252 111,533
106,252 111,533

CURRENT ASSETS
Stocks 611,348 626,386
Debtors 6 1,349,407 1,197,248
Cash at bank and in hand 359,393 159,590
2,320,148 1,983,224
CREDITORS
Amounts falling due within one year 7 344,966 299,672
NET CURRENT ASSETS 1,975,182 1,683,552
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,081,434

1,795,085

CAPITAL AND RESERVES
Called up share capital 755 755
Share premium 404,697 404,697
Capital redemption reserve 547 547
Retained earnings 1,675,435 1,389,086
SHAREHOLDERS' FUNDS 2,081,434 1,795,085

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

The members have not required the company to obtain an audit of its financial statements for the year 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.

SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2025 and were signed on its behalf by:





Dr M D Gardiner - Director


SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Sprint Electric Limited is a private company, limited by shares, registered in England and Wales. The company's registered office address is Peregrine House Ford Lane, Ford, Arundel, West Sussex, BN18 0DF.

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.

The financial statements are presented in sterling (£), which is also the functional currency of the company.

Monetary amounts in these Financial Statements are rounded to the nearest £1.

Revenue
Revenue, described as 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.

Tangible fixed assets
Tangible fixed assets are initially recognised at cost, thereafter they are recognised at cost less accumulated depreciation and amortisation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Long leasehold-7.5% on cost
Plant and machinery-25% on cost
Fixtures and fittings-10% on cost
Computer equipment-25% 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. Work in progress is included at the cost of materials and labour used.

Financial instruments
Financial instruments are classified by the directors as basic following the conditions in FRS 102 Section 1a. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued
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.It is the assumption of the directors that these assets will be used in future.

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


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 year was 17 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023
and 31 October 2024 400,000
AMORTISATION
At 1 November 2023
and 31 October 2024 400,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 107,892 281,939 39,571 133,675 563,077
Additions 2,451 1,493 - 2,998 6,942
At 31 October 2024 110,343 283,432 39,571 136,673 570,019
DEPRECIATION
At 1 November 2023 8,092 279,826 39,318 124,308 451,544
Charge for year 8,092 622 92 3,417 12,223
At 31 October 2024 16,184 280,448 39,410 127,725 463,767
NET BOOK VALUE
At 31 October 2024 94,159 2,984 161 8,948 106,252
At 31 October 2023 99,800 2,113 253 9,367 111,533

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 385,309 550,971
Amounts owed by group undertakings 769,829 290,746
Other debtors 109,737 178,434
1,264,875 1,020,151

Amounts falling due after more than one year:
Other debtors 84,532 177,097

Aggregate amounts 1,349,407 1,197,248

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 274,859 211,035
Taxation and social security 13,313 52,097
Other creditors 56,794 36,540
344,966 299,672

8. LEASING AGREEMENTS

At the balance sheet date the company had operating lease commitments of £345,167 (2023: £454,167).