Registration number:
Springfield Supplies & Projects Limited
for the Year Ended 30 April 2025
Registration number:
Springfield Supplies & Projects Limited
for the Year Ended 30 April 2025
Springfield Supplies & Projects Limited
Contents
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Springfield Supplies & Projects Limited
(Registration number: 09473225)
Abridged Balance Sheet as at 30 April 2025
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2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Springfield Supplies & Projects Limited
(Registration number: 09473225)
Abridged Balance Sheet as at 30 April 2025
For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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Mr S P Baker
Director
Springfield Supplies & Projects Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Old Gloucester Road
Knap
Thornbury
Bristol
BS35 3UF
United Kingdom
These financial statements were authorised for issue by the
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Accounting policies |
Statement of compliance
These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
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 sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. 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 other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Springfield Supplies & Projects Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2025
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Leasehold improvements |
Duration of lease |
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Plant and machinery |
25% reducing balance |
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Fixtures and fittings |
25% reducing balance |
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Motor vehicles |
25% reducing balance and duration of lease |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Intangible assets
Website and software development costs are shown at historical cost.
Website and software development costs have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
10% straight line |
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Website costs |
33% straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Springfield Supplies & Projects Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2025
Defined benefit pension obligation
Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.
The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.
Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Intangible assets |
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Total |
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Cost or valuation |
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At 1 May 2024 |
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At 30 April 2025 |
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Amortisation |
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At 1 May 2024 |
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Amortisation charge |
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At 30 April 2025 |
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Carrying amount |
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At 30 April 2025 |
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At 30 April 2024 |
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Springfield Supplies & Projects Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2025
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Tangible assets |
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Total |
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Cost or valuation |
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At 1 May 2024 |
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Additions |
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Disposals |
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At 30 April 2025 |
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Depreciation |
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At 1 May 2024 |
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Charge for the year |
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Eliminated on disposal |
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At 30 April 2025 |
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Carrying amount |
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At 30 April 2025 |
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At 30 April 2024 |
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Creditors: amounts falling due within one year |
Creditors include hire purchase contracts which are secured of £117,369 (2024 - £107,025).
Springfield Supplies & Projects Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2025
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Financial commitments, guarantees and contingencies |
The total amount of financial commitments not included in the balance sheet is £
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Related party transactions |
Summary of transactions with parent
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Parent and ultimate parent undertaking |
The company's immediate parent is
The parent's registered office address is:
Park View
Wotton Road
Rangeworthy
Bristol
BS37 7LZ
Springfield Supplies & Projects Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2025
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Prior Year Adjustments |
Prior Year Adjustment
In accordance with FRS 102 Section 1A, the company has made a prior year adjustment to its financial statements for the year ended 30 April 2024. The adjustment is due to the derecognition of a liability that was previously included within the accounts.
The nature of the prior year adjustment is as follows:
1. Corporation Tax: A liability has been derecognised in the balance sheet, which was previously accounted for in prior periods. This has resulted in a decrease in both liabilities and corresponding adjustments to the financial position of the company.
2. Retained Earnings: As a result of the adjustments to the liability retained earnings have been restated. This restatement reflects the correction of prior period errors and ensures the financial statements present a true and fair view.
The effect of the prior year adjustment is reflected in the restated comparative figures, as follows:
As previously stated | Adjustment | Restated figures 30 April 2024 | |
Corporation Tax | 162,363 | (83,513) | 78,850 |
Retained earnings | 1,865,980 | 83,513 | 1,949,493 |
The adjustments were made to ensure compliance with FRS 102 and to provide a more accurate representation of the company's financial position in the prior year.
The comparative figures for the prior year are presented in accordance with the adjustments described above, and no other changes to the company's accounting policies or financial statements for the current year have been made.