REGISTERED NUMBER: 05338370 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

SP Powerworld Ltd

Page

Statement of financial position

1

to

2

Notes to the financial statements

3

to

7

Fixed assets

Tangible assets

5

10,758

10,570

Current assets

Stocks

6

22,587

20,231

Debtors

7

6,481

53,478

Cash at bank

183,580

181,505

212,648

255,214

Creditors

Amounts falling due within one year

8

15,636

38,627

Net current assets

197,012

216,587

Total assets less current liabilities

207,770

227,157

Provisions for liabilities

1,185

1,264

Net assets

206,585

225,893

Capital and reserves

Called up share capital

9

2

2

Capital redemption reserve

98

98

Retained earnings

206,485

225,793

Shareholders' funds

206,585

225,893

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 September 2025 and were signed by:

J T Daff - Director

1.	Statutory information

SP Powerworld Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05338370

Registered office:

Willows

Waterside

Ryhall

Stamford

Lincolnshire

PE9 4EY

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

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

10% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible asset includes directly attributable incremental costs incurred in their acquisition and installation.

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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share Capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon an improvement in the company's trading position and continued financial support from its directors, shareholders and related companies and partnerships. The financial statements do not include any adjustments that would arise if such support is not continuing.

4.	Employees and directors

The average number of employees during the year was 3 (2024 - 3 ) .

5.	Tangible fixed assets

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

Cost

At 1 February 2024

6,840

14,876

11,337

12,539

45,592

Additions

-

-

-

2,663

2,663

At 31 January 2025

6,840

14,876

11,337

15,202

48,255

Depreciation

At 1 February 2024

5,700

10,669

9,616

9,037

35,022

Charge for year

114

1,052

432

877

2,475

At 31 January 2025

5,814

11,721

10,048

9,914

37,497

Net book value

At 31 January 2025

1,026

3,155

1,289

5,288

10,758

At 31 January 2024

1,140

4,207

1,721

3,502

10,570

6.

Stocks

2025

2024

£

£

Stocks

22,587

20,231

7.

Debtors

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

361

464

Payments on account

6,048

-

VAT

72

52,931

6,481

53,395

Amounts falling due after more than one year:

Other debtors

-

83

Aggregate amounts

6,481

53,478

8.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

4,589

2,311

Trade creditors

7,626

7,972

Corporation tax

(4,129

)

21,526

Social security and other taxes

2,025

2,849

Other creditors

600

-

Directors' loan accounts

1,584

984

Accrued expenses

3,341

2,985

15,636

38,627

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

1

2

2