Spot-On-Supplies (Industrial Consumables) Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Spot-On-Supplies (Industrial Consumables) Limited

(Registration number: 01241136)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	163,741	144,034
Current assets
Stocks	5	287,478	245,131
Debtors	6	574,444	611,739
Cash at bank and in hand		1,139,605	1,280,721
		2,001,527	2,137,591
Creditors: Amounts falling due within one year	7	(290,045)	(428,308)
Net current assets		1,711,482	1,709,283
Total assets less current liabilities		1,875,223	1,853,317
Provisions for liabilities		(17,668)	(18,685)
Net assets		1,857,555	1,834,632
Capital and reserves
Called up share capital		100	100
Profit and loss account		1,857,455	1,834,532
Shareholders' funds		1,857,555	1,834,632

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Spot-On-Supplies (Industrial Consumables) Limited

(Registration number: 01241136)
Statement of Financial Position as at 31 December 2024 (continued)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 22 September 2025 and signed on its behalf by:
 

Mr D M Moore Director

Mr B N Raban Director

Spot-On-Supplies (Industrial Consumables) Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
80 Oxford Street
Burnham-On-Sea
Somerset
TA8 1EF

Principal activity

The principal activity of the company is the supply of cleaning and hygiene products.

The principal place of business is:
Elliot Road
Love Lane Industrial Estate
CIRENCESTER
Glos
GL7 1FH

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Spot-On-Supplies (Industrial Consumables) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

Asset class	Depreciation method and rate
Fixtures & fittings	- 25% straight line
Motor vehicles	- 25% straight line
Equipment	- 25% straight line

Spot-On-Supplies (Industrial Consumables) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

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 inventories 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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Recognition and measurement
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2023 - 18).

Spot-On-Supplies (Industrial Consumables) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4	Tangible assets

	Fixtures and fittings £	Equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	44,638	52,870	264,093	361,601
Additions	-	-	83,165	83,165
Disposals	(216)	(4,958)	(51,200)	(56,374)
At 31 December 2024	44,422	47,912	296,058	388,392
Depreciation
At 1 January 2024	15,363	45,641	156,563	217,567
Charge for the year	6,496	3,765	51,139	61,400
Eliminated on disposal	(216)	(4,958)	(49,142)	(54,316)
At 31 December 2024	21,643	44,448	158,560	224,651
Carrying amount
At 31 December 2024	22,779	3,464	137,498	163,741
At 31 December 2023	29,275	7,229	107,530	144,034

Spot-On-Supplies (Industrial Consumables) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Stocks

	2024 £	2023 £
Other inventories	287,478	245,131

6

Debtors

	2024 £	2023 £
Trade debtors	574,444	611,739
	574,444	611,739

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	192,112	346,582
Taxation and social security	95,233	79,076
Accruals and deferred income	2,700	2,650
	290,045	428,308

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Not later than one year	45,000	45,000
Later than one year and not later than five years	180,000	180,000
	225,000	225,000

Spot-On-Supplies (Industrial Consumables) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

10	Related party transactions

Summary of transactions with all entities with joint control or significant interest

During the year the company sold goods amounting to £373,432 (2023 £466.080) to Spot On Supplies (Hygiene) Limited and Spot On Supplies (Cleaning & Packaging) Limited. All transactions were completed on normal commercial terms. The company also paid management charges of £124,800 (2023 £123,220) to Spot On Supplies (Cleaning & Packaging) Limited.At the year end the company owed £5,169 to Spot On Supplies (Hygiene) Limited and owed £2,270 to Spot On Supplies (Cleaning & Packaging) Limited.