REGISTERED NUMBER: 02442279 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SPINDLE SERVICES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S C B Emms

D Emms

REGISTERED OFFICE:

9 & 10 Central City Ind Est

Red Lane

Coventry

West Midlands

CV6 5RY

REGISTERED NUMBER:

02442279 (England and Wales)

FIXED ASSETS

Intangible assets

4

12,209

-

Tangible assets

5

205,487

134,145

217,696

134,145

CURRENT ASSETS

Stocks

206,946

303,714

Debtors

359,823

291,241

Cash at bank

36,819

7,538

603,588

602,493

CREDITORS

Amounts falling due within one year

288,084

324,719

NET CURRENT ASSETS

315,504

277,774

TOTAL ASSETS LESS CURRENT LIABILITIES

533,200

411,919

CREDITORS

Amounts falling due after more than one year

(60,952

)

(12,439

)

PROVISIONS FOR LIABILITIES

(50,773

)

(32,805

)

NET ASSETS

421,475

366,675

CAPITAL AND RESERVES

Called up share capital

26

26

Capital redemption reserve

18

18

Retained earnings

421,431

366,631

421,475

366,675

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 September 2025 and were signed on its behalf by:

S C B Emms - Director

1.	STATUTORY INFORMATION

Spindle Services 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

33% on cost and 25% on cost

Stocks and work in progress

Stocks are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis. The cost of work in progress and finished goods includes all production overheads and depreciation and the attributable proportion of indirect overheads based on the normal level of activity. Net realisable value is based on estimated selling price less the estimated cost of disposal.

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.

Foreign currencies

Transactions expressed in foreign currencies are translated into sterling and recorded at rates of exchange approximating to those ruling at the data of the transaction. Monetary assets and liabilities are translated at rates ruling at the balance sheet date. All differences are taken to the profit and loss account.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 16 (2024 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

Additions

12,927

At 31 March 2025

12,927

AMORTISATION

Amortisation for year

718

At 31 March 2025

718

NET BOOK VALUE

At 31 March 2025

12,209

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

515,059

Additions

104,180

At 31 March 2025

619,239

DEPRECIATION

At 1 April 2024

380,914

Charge for year

32,838

At 31 March 2025

413,752

NET BOOK VALUE

At 31 March 2025

205,487

At 31 March 2024

134,145

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Totals

£

COST

At 1 April 2024

17,992

Additions

73,500

Transfer to ownership

(17,992

)

At 31 March 2025

73,500

DEPRECIATION

At 1 April 2024

11,885

Charge for year

2,756

Transfer to ownership

(11,885

)

At 31 March 2025

2,756

NET BOOK VALUE

At 31 March 2025

70,744

At 31 March 2024

6,107

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

2025

2024

2025

2024

£

£

£

£

Net obligations repayable:

Within one year

22,050

857

9,401

-

Between one and five years

42,263

-

16,452

-

64,313

857

25,853

-

Non-cancellable

operating leases

2025

2024

£

£

Within one year

70,197

63,101

Between one and five years

64,852

122,565

135,049

185,666

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts and finance leases

90,166

857

Other creditors are secured by way of a fixed and floating charge over the assets of the company.

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

8.	OTHER FINANCIAL COMMITMENTS

As at the year end the pensions contribution outstanding £1,843 (2024: NIL).