REGISTERED NUMBER: 00592501 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Andrew & Co (Spalding) Ltd

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

to

4

Notes to the financial statements

5

to

8

Directors:

D A Richardson

Mrs J K Richardson-Woodward

Registered office:

Welland Saw Mills

Little London

Spalding

Lincolnshire

PE11 2UJ

Registered number:

00592501 (England and Wales)

Accountants:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Andrew & Co (Spalding) Ltd for the year ended 31 December 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Andrew & Co (Spalding) Ltd, as a body, in accordance with the terms of our engagement letter dated 1 August 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Andrew & Co (Spalding) Ltd and state those matters that we have agreed to state to the Board of Directors of Andrew & Co (Spalding) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andrew & Co (Spalding) Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Andrew & Co (Spalding) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Andrew & Co (Spalding) Ltd. You consider that Andrew & Co (Spalding) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Andrew & Co (Spalding) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

29 September 2025

Fixed assets

Tangible assets

5

104,306

113,336

Current assets

Stocks

302,928

344,363

Debtors

6

36,470

49,962

Cash at bank and in hand

271,173

291,194

610,571

685,519

Creditors

Amounts falling due within one year

7

212,921

236,865

Net current assets

397,650

448,654

Total assets less current liabilities

501,956

561,990

Creditors

Amounts falling due after more than one year

8

-

(2,191

)

Provisions for liabilities

(12,666

)

(14,170

)

Net assets

489,290

545,629

Capital and reserves

Called up share capital

9

3,001

3,001

Capital reserve

39,379

39,379

Retained earnings

446,910

503,249

Shareholders' funds

489,290

545,629

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

D A Richardson - Director

Mrs J K Richardson-Woodward - Director

1.	Statutory information

Andrew & Co (Spalding) Ltd 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.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

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

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings

- straight line over 50 years

Plant and machinery

- 15% per annum of net book value

Fixtures and fittings

- 15% per annum of net book value

Motor vehicles

- 25% per annum of net book value

Impairment of fixed assets

The carrying values of tangible fixed assets are reviewed for impairment annually by the directors without revaluing the assets. Where the aggregate value of those assets is less than the aggregate that they are stated in the company's accounts, a provision will be made for any material impairment.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Income 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4.	Employees and directors

The average number of employees during the year was 26 (2023 - 26 ) .

5.	Tangible fixed assets

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Cost

At 1 January 2024

166,658

152,201

92,275

53,759

464,893

Additions

-

528

2,860

-

3,388

At 31 December 2024

166,658

152,729

95,135

53,759

468,281

Depreciation

At 1 January 2024

97,876

146,701

74,339

32,641

351,557

Charge for year

3,333

865

2,941

5,279

12,418

At 31 December 2024

101,209

147,566

77,280

37,920

363,975

Net book value

At 31 December 2024

65,449

5,163

17,855

15,839

104,306

At 31 December 2023

68,782

5,500

17,936

21,118

113,336

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

29,327

43,204

Prepayments and accrued income

7,143

6,758

36,470

49,962

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Hire purchase contracts

2,215

8,666

Trade creditors

118,294

124,993

Corporation tax

5,957

19,664

PAYE and NIC

4,889

6,576

VAT

24,125

25,039

Other loans

3,633

1,633

Directors' current accounts

44,925

25,336

Accruals and deferred income

8,883

24,958

212,921

236,865

Obligations under finance leases and hire purchase agreements are secured on the assets they relate to.

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Hire purchase contracts

-

2,191

Obligations under finance leases and hire purchase agreements are secured on the assets they relate to.

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

3,001

Ordinary shares of £1 each

1

3,001

3,001