Registered number
04981096
Spring Lane Services Limited
Filleted Accounts
30 November 2024
Spring Lane Services Limited
Registered number: 04981096
Directors' Report
The directors present their report and accounts for the year ended 30 November 2024.
Principal activities
The company's principal activity during the year continued to be …
Directors
The following persons served as directors during the year:
Mr M Coverley
Mrs S Coverley
Ms S Coverley
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 29 August 2025 and signed on its behalf.
Ms S Coverley
Director
Spring Lane Services Limited
Report to the directors on the preparation of the unaudited statutory accounts of Spring Lane Services Limited for the year ended 30 November 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Spring Lane Services Limited for the year ended 30 November 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
CALM Retail Accounting Ltd
Chartered Certified Accountants
Low Cottage
10 Low Cross
Whittlesey
Peterborough
PE7 1HW
29 August 2025
Spring Lane Services Limited
Registered number: 04981096
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 50,114 61,724
Current assets
Stocks 77,722 100,909
Debtors 4 476,942 313,557
Cash at bank and in hand 342,774 436,243
897,438 850,709
Creditors: amounts falling due within one year 5 (291,691) (338,222)
Net current assets 605,747 512,487
Total assets less current liabilities 655,861 574,211
Creditors: amounts falling due after more than one year 6 (6,085) (16,607)
Provisions for liabilities (11,789) (11,099)
Net assets 637,987 546,505
Capital and reserves
Called up share capital 2 2
Profit and loss account 637,985 546,503
Shareholders' funds 637,987 546,505
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms S Coverley
Director
Approved by the board on 29 August 2025
Spring Lane Services Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 171,882 1,850 173,732
Additions 4,250 2,000 6,250
Disposals - (1,000) (1,000)
At 30 November 2024 176,132 2,850 178,982
Depreciation
At 1 December 2023 110,771 1,237 112,008
Charge for the year 16,599 261 16,860
At 30 November 2024 127,370 1,498 128,868
Net book value
At 30 November 2024 48,762 1,352 50,114
At 30 November 2023 61,111 613 61,724
4 Debtors 2024 2023
£ £
Trade debtors 84,839 25,256
Other debtors 392,103 288,301
476,942 313,557
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,619 10,400
Trade creditors 154,125 189,639
Taxation and social security costs 113,170 115,418
Other creditors 17,777 22,765
291,691 338,222
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,085 16,607
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr M Coverley
Directors Current Account 73,806 86,718 (63,500) 97,024
Mrs S Coverley
Directors Current Account 275 57,781 (58,509) (453)
Ms S Coverley
Directors Current Account 15,000 53,744 - 68,744
89,081 198,243 (122,009) 165,315
8 Other information
Spring Lane Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Spring Lane Barns
Spring Lane
Colsterworth
Grantham
NG33 5HN
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