SPS Architectural Services Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

SPS Architectural Services Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	5,344	7,126
Current assets
Debtors	5	113,282	96,727
Cash at bank and in hand		4,134	1,190
		117,416	97,917
Creditors: Amounts falling due within one year	6	(99,815)	(83,713)
Net current assets		17,601	14,204
Net assets		22,945	21,330
Capital and reserves
Called up share capital	7	1	1
Profit and loss account		22,944	21,329
Shareholders' funds		22,945	21,330

SPS Architectural Services Limited

Balance Sheet

31 December 2024

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.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 September 2025 and signed on its behalf by:
 

......................................... Mr R A Pepper-Smith Director

Company Registration Number: 05758809

SPS Architectural Services Limited

Notes to the Unaudited Financial Statements

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:
Jenson House
Cardrew Industrial Estate
Cardrew Way
Redruth
Cornwall
TR15 1SS

The principal place of business is:
Gateway Business Centre
Barncoose Industrial Estate
Redruth
Cornwall
TR15 3RQ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been 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 financial statements have been prepared using the historical cost convention.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

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.

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 corporation 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.

SPS Architectural Services Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

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 over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	50% p a straight line
Motor vehicles	25% p a reducing balance

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

SPS Architectural Services Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

4	Tangible assets

	Office equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	3,728	24,023	27,751
At 31 December 2024	3,728	24,023	27,751
Depreciation
At 1 January 2024	3,728	16,897	20,625
Charge for the year	-	1,782	1,782
At 31 December 2024	3,728	18,679	22,407
Carrying amount
At 31 December 2024	-	5,344	5,344
At 31 December 2023	-	7,126	7,126

5

Debtors

	2024 £	2023 £
Trade debtors	2,838	4,200
Prepayments	1,850	3,215
Other debtors	108,594	89,312
	113,282	96,727

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	70,028	53,412
Taxation and social security	2,860	1,201
Accruals and deferred income	4,750	6,923
Other creditors	22,177	22,177
	99,815	83,713

SPS Architectural Services Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each of £1 each	1	1	1	1

8	Related party transactions

Summary of transactions with other related parties

Practical Developments (South West) Limited
(Company under common control) During the year the company made sales to Practical Developments (South West) Limited to a value of £85,468 (2023 £96,181).