REGISTERED NUMBER: 08304580 (England and Wales)

Spartan Precision Equipment Limited

Unaudited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms J A Fong

Mr R D Gearing

Mr J B Tumelty

Mr P D Upward

Mr M F Wheeler

Mr M Bond

Mr G W Raba

REGISTERED OFFICE:

Atlantic House

8 Bell Lane

Uckfield

East Sussex

TN22 1QL

REGISTERED NUMBER:

08304580 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Atlantic House

8 Bell Lane

Bellbrook Industrial Estate

Uckfield

East Sussex

TN22 1QL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

69,531

75,354

69,531

75,354

CURRENT ASSETS

Stocks

656,708

585,868

Debtors

6

614,088

365,409

Cash at bank and in hand

422,343

264,707

1,693,139

1,215,984

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7

1,039,389

579,839

NET CURRENT ASSETS

653,750

636,145

TOTAL ASSETS LESS CURRENT LIABILITIES

723,281

711,499

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

8

(24,001

)

(93,154

)

PROVISIONS FOR LIABILITIES

(17,383

)

(18,839

)

NET ASSETS

681,897

599,506

CAPITAL AND RESERVES

Called up share capital

11

10,176

10,101

Share premium

800,868

591,912

Retained earnings

(129,147

)

(2,507

)

SHAREHOLDERS' FUNDS

681,897

599,506

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

Mr R D Gearing - Director

1.	STATUTORY INFORMATION

Spartan Precision Equipment 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes from commercial transactions under which the company supplies customers the services and goods that it is in business to provide and it is recognised when it obtains through performance under contract, the right to consideration for those services and goods.

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.

Patents and licences are being amortised evenly over their estimated useful life of four 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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Research and development

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and 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.

Going concern

The directors have assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern.

At the time of approving the financial statements the directors believe that all appropriate measures have been or will be taken to ensure that the company will be able to continue its operations for at least the next 12 months and thus conclude that the going concern basis remains appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

60,138

AMORTISATION

At 1 January 2024

and 31 December 2024

60,138

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2024

61,523

114,614

176,137

Additions

10,804

10,018

20,822

At 31 December 2024

72,327

124,632

196,959

DEPRECIATION

At 1 January 2024

27,788

72,995

100,783

Charge for year

15,012

11,633

26,645

At 31 December 2024

42,800

84,628

127,428

NET BOOK VALUE

At 31 December 2024

29,527

40,004

69,531

At 31 December 2023

33,735

41,619

75,354

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

277,144

157,260

Amounts owed by group undertakings

102,916

-

Other debtors

234,028

208,149

614,088

365,409

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

404,586

109,731

Hire purchase contracts (see note 9)

6,524

8,698

Trade creditors

301,790

64,362

Taxation and social security

47,116

79,527

Other creditors

279,373

317,521

1,039,389

579,839

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

24,001

86,630

Hire purchase contracts (see note 9)

-

6,524

24,001

93,154

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2024

2023

£

£

Net obligations repayable:

Within one year

6,524

8,698

Between one and five years

-

6,524

6,524

15,222

Non-cancellable

operating leases

2024

2023

£

£

Within one year

43,700

43,700

Between one and five years

98,325

32,775

142,025

76,475

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

328,050

33,468

The company's bank borrowings are secured by a fixed and floating charge over the company's assets.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10,176

Ordinary

£1

10,176

10,101

75 Ordinary shares of £1 each were allotted as fully paid at a premium of 2,603.33 per share during the year.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made advances to a director of £213,041 (2023: £85,941) and was repaid £198,206 (2023: £2,602). At the balance sheet date, the director owed the company £5,235 (2023: the company owed the director £9,600). Interest was charged at the beneficial rate and amounted to £395 (2023: £nil). The loan is unsecured and repayable on demand.

13.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed a director the sum of £214,586 (2023: £204,344). The company was charged interest of £10,243 (2023: £4,344). The loan is unsecured and repayable on demand.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is Spartan Boss Limited.

The ultimate controlling party is Mr R D Gearing.