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REGISTERED NUMBER: 04449064 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Specialist Power Systems Ltd

Specialist Power Systems Ltd (Registered number: 04449064)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Specialist Power Systems Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: R J Yeeles
A J Quince
A Baverstock





SECRETARY: Mrs A Yeeles





REGISTERED OFFICE: Unit 3 Kempston Court
Manor Road
Kempston Hardwick
Bedfordshire
MK43 9PQ





REGISTERED NUMBER: 04449064 (England and Wales)





ACCOUNTANTS: Godfrey Laws & Co Limited
1 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

Specialist Power Systems Ltd (Registered number: 04449064)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 5,948
Tangible assets 5 362,849 342,041
362,849 347,989

CURRENT ASSETS
Debtors 6 1,234,376 943,179
Prepayments and accrued income 53,157 47,060
Cash at bank 1,142,464 864,862
2,429,997 1,855,101
CREDITORS
Amounts falling due within one year 7 1,243,743 958,292
NET CURRENT ASSETS 1,186,254 896,809
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,549,103

1,244,798

PROVISIONS FOR LIABILITIES 24,947 3,185
NET ASSETS 1,524,156 1,241,613

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 1,524,054 1,241,511
SHAREHOLDERS' FUNDS 1,524,156 1,241,613

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

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

Specialist Power Systems Ltd (Registered number: 04449064)

Balance Sheet - continued
31 December 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 26 August 2025 and were signed on its behalf by:





R J Yeeles - Director


Specialist Power Systems Ltd (Registered number: 04449064)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Specialist Power Systems Ltd 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 from maintenance contracts is recognized and accounted for over the period of service delivery.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

Taxation
Taxation for the year 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 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.

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.

Specialist Power Systems Ltd (Registered number: 04449064)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 30,996 40,006 71,002
AMORTISATION
At 1 January 2024 30,996 34,058 65,054
Charge for year - 5,948 5,948
At 31 December 2024 30,996 40,006 71,002
NET BOOK VALUE
At 31 December 2024 - - -
At 31 December 2023 - 5,948 5,948

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 653,226
Additions 172,587
Disposals (120,660 )
At 31 December 2024 705,153
DEPRECIATION
At 1 January 2024 311,185
Charge for year 106,437
Eliminated on disposal (75,318 )
At 31 December 2024 342,304
NET BOOK VALUE
At 31 December 2024 362,849
At 31 December 2023 342,041

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 1,214,328 914,648
Other debtors 20,048 28,531
1,234,376 943,179

Specialist Power Systems Ltd (Registered number: 04449064)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 537,276 292,183
Taxation and social security 432,972 410,338
Other creditors 273,495 255,771
1,243,743 958,292

8. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the director Mr R Yeeles.