REGISTERED NUMBER: 01170209 (England and Wales)

SKEGNESS SPRINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

D B Johnson

I T Johnson

SECRETARY:

D B Johnson

REGISTERED OFFICE:

Hassall Road

Skegness

Lincolnshire

PE25 3TB

REGISTERED NUMBER:

01170209 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

27-29 Lumley Avenue

Skegness

Lincolnshire

PE25 2AT

BANKERS:

National Westminster Bank Plc

97 Lumley Road

Skegness

Lincolnshire

PE25 3LY

FIXED ASSETS

Tangible assets

4

208,796

232,720

CURRENT ASSETS

Stocks

329,215

408,838

Debtors

5

621,445

594,748

Cash at bank

2,067,959

1,719,283

3,018,619

2,722,869

CREDITORS

Amounts falling due within one year

6

290,946

423,986

NET CURRENT ASSETS

2,727,673

2,298,883

TOTAL ASSETS LESS CURRENT LIABILITIES

2,936,469

2,531,603

PROVISIONS FOR LIABILITIES

57,147

52,849

NET ASSETS

2,879,322

2,478,754

CAPITAL AND RESERVES

Called up share capital

8

15,000

15,000

Retained earnings

2,864,322

2,463,754

SHAREHOLDERS' FUNDS

2,879,322

2,478,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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 and authorised for issue by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

D B Johnson - Director

1.	STATUTORY INFORMATION

Skegness Springs 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts chargeable by the company for goods and services provided during the year, excluding value added tax and trade discount.

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 etc

-

33% on cost, 20% on cost, 12.5% on reducing balance and 10% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Government grants

Government grants are recognised at fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Stock and work in progress

Stock and work-in-progress are valued at the lower of cost, determined on a first in, first out basis and net realisable value. Cost, in the case of products manufactured by the company comprises direct materials and labour costs together with the appropriate factory overheads.

Financial instruments

The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2024

798,593

Additions

10,799

At 30 April 2025

809,392

DEPRECIATION

At 1 May 2024

565,873

Charge for year

34,723

At 30 April 2025

600,596

NET BOOK VALUE

At 30 April 2025

208,796

At 30 April 2024

232,720

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Trade debtors

293,400

205,133

Other debtors

328,045

389,615

621,445

594,748

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Trade creditors

22,247

127,070

Amounts owed to group undertakings

17,400

18,205

Taxation and social security

161,468

250,873

Other creditors

89,831

27,838

290,946

423,986

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.4.25

30.4.24

£

£

Within one year

37,000

37,000

Between one and five years

148,000

148,000

In more than five years

148,000

185,000

333,000

370,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.25

30.4.24

value:

£

£

13,500

A Ordinary

£1

13,500

13,500

1,500

B Ordinary

£1

1,500

1,500

15,000

15,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2025 and 30 April 2024:

30.4.25

30.4.24

£

£

D B Johnson

Balance outstanding at start of year

159,698

186,936

Amounts advanced

15,000

2,762

Amounts repaid

(60,000

)

(30,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

114,698

159,698

The company has provided the director with an interest free loan of £114,698 (2024: £159,698).

The director has provided the director with an interest free loan of £63,456 (2024: £18,456).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Skegness Springs Holdings Limited.