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Registered number: 08452095 (England & Wales)
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CONTENTS
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COMPANY INFORMATION
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STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
The director presents his Strategic Report for the year ended 30 April 2025.
The principal activities of the company continue to be that of construction and design services for luxury properties.
The key performance indicators for the business are operating profit, turnover and shareholder funds. The business has had another very successful year with turnover increasing to £31,799,703 (2024 - £29,005,212). The company's results, as set out on page 9, show an operating profit of £3,418,451 (2024 - £834,941). Profits fluctuate year on year with each project being unique in its nature, client requirements, and budgeted gross margin.
The shareholders funds at 30 April 2025 totalled £12,576,067 (2024 - £9,962,863).
The company's activities expose it to financial risks including credit risk and liquidity risk. The company has treasury and liquidity management procedures in place appropriate to the size and complexity of the business.
The company has no significant exposure to foreign exchange risk, interest rate risk or other risks, except the risks posted by the UK financial climate in general which includes additional risks and challenges relating to the supply chain, imports and inflation. The company has not entered into any other financial instruments or derivative products.
This report was approved by the director: 22 October 2025.
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DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 APRIL 2025
The director presents his report and the financial statements for the year ended 30 April 2025.
The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £2,613,204 (2024 - £766,495).
The director does not recommend the payment of a dividend (2024 - £nil).
The director who served during the year was:
Current projects continue towards completion and further projects are being explored.
Please refer to the Strategic Report for the assessment of the risks associated with the Company's business.
The Company had not entered into any hedging or derivative products, during the current or prior year. All of the Company's financial instruments are basic - see note 2.9 to the financial statements for the Company's accounting policy for financial instruments.
The Company has no exposure to foreign exchange risk and has not entered into any foreign currency hedging arrangements.
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DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
This report was approved by the director:
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF SPINK CONSTRUCTION LIMITED
We have audited the financial statements of Spink Construction Limited (the 'company') for the year ended 30 April 2025, which comprise the Statement of Income and Retained Earnings Including Profit and Loss Account, the Balance Sheet, the Statement of Cash Flows and the related Notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF SPINK CONSTRUCTION LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF SPINK CONSTRUCTION LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We tailored the scope of our audit to ensure that we performed sufficient work to be able to give an opinion on the financial statements as a whole. We used the outputs of a risk assessment, our understanding of the company, its environment, its controls and critical business processes, to consider qualitative factors in order to ensure that we obtained sufficient coverage across all financial statement line items.
Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. In identifying and assessing risks of material misstatement in respect of irregularities including non-compliance with laws and regulations, our procedures included but were not limited to:
∙at planning stage, we gained an understanding of the legal and regulatory framework applicable to the company, the industry in which they operate, the structure of the group, and considered the risk of failing to comply with these legal and regulatory requirements;
∙we discussed with management the policies and procedures in place regarding compliance with laws and regulations;
∙we discussed amongst the engagement team the identified laws and regulations, and remained alert to any indications of non-compliance; and
∙during the audit, we focused on areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussions with management.
We also considered those other laws and regulations that have a direct impact on the preparation of financial statements, such as the Companies Act 2006.
Our procedures in relation to fraud included but were not limited to:
∙inquiries of management whether they have knowledge of any actual, suspected or alleged fraud;
∙gaining an understanding of the internal controls established to mitigate risk related to fraud;
∙using analytical procedures to identify any unusual or unexpected relationships;
∙discussion amongst the engagement team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements; and,
∙scrutiny review of unusual transactions and entry into sensitive nominal ledger accounts.
The primary responsibility for the prevention and detection of irregularities including fraud rests with both those charged with governance and management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF SPINK CONSTRUCTION LIMITED (CONTINUED)
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member for our audit work, for this report, or for the opinions we have formed.
for and on behalf of Lewis Golden LLP
Chartered Accountants and Statutory Auditors
40 Queen Anne Street
London
W1G 9EL
Date:
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STATEMENT OF INCOME AND RETAINED EARNINGS INCLUDING PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2025
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BALANCE SHEET
AS AT 30 APRIL 2025
The financial statements were approved and authorised for issue by the director:
The notes on pages 12 to 22 form part of these financial statements.
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STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Spink Construction Limited is a private company limited by share capital, incorporated in England and Wales, registered number 08452095. The address of the registered office is 40 Queen Anne Street, London W1G 9EL.
2.Accounting policies
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, the 'Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The company's functional and presentation currency is pound sterling.
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.
The financial statements have been prepared on the going concern basis. The shareholder has provided notice that they will support the operational needs of the company for a period of at least twelve months from the date of approval of the financial statements, in order to allow the company to meet its liabilities as and when they fall due unless circumstances change in a manner such that it would or might no longer be open to them to provide such financial support.
Turnover and profit are recognised as follows:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimate useful lives.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within administrative expenses in the Statement of Income and Retained Earnings Including Profit and Loss Account.
(i) Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at the transaction price. Such assets are subsequently carried at amortised cost using the effective interest method. 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 would be recognised in the Statement of Income and Retained Earnings Including Profit and Loss Account. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal would be recognised in the Statement of Income and Retained Earnings Including Profit and Loss Account.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Financial assets are derecognised when:
(a) The contractual rights to the cash flows from the asset expire or are settled; or (b) Substantially all the risks and rewards of ownership of the asset are transferred to another party; or (c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. (ii) Financial liabilities Basic financial liabilities, including trade and other creditors and payments on account are initially recognised at transaction price. Basic financial 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. Trade creditors 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. Financial liabilities are derecognised when the liability is extinguished, this is when the contractual obligation is discharged, cancelled or expires. (iii) Offsetting Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. See note 2.12 for details.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgments about the carrying value of assets and liabilities. Actual results may differ from these estimates. The judgments, estimates and assumptions that have the most significant effect on the carrying value of assets and liabilities of the company are discussed below.
(i) Turnover recognition and estimation of costs to complete
In order to determine the profit and loss that the company is able to recognise on its construction contracts, the company has to assess the value of the work completed and the total costs to be incurred. This requires forecasts to be made of the outcomes of construction contracts, which require estimates and judgments to be made in respect of changes in the scope of work and changes in costs. However, management is experienced at making such estimates and ensures that they are appropriate on an individual contract basis.
(ii) Impairment of debtors
The recoverability of trade and other debtors is regularly reviewed in the light of the available economic information specific to each debtor and specific provisions are recognised for balances considered to be irrecoverable. See note 11 for the net carrying amount of debtors.
(iii) Other provision The company has recognised a provision in respect of works associated with projects not forseen at the time of practical completion. The amount of the provision is based on management's best estimate of the expenditures required at the reporting date. The estimation process involves a significant degree of judgment, particularly in assessing the nature and extent of potential actions. The inherent subjectivity in this assessment means that the actual outcome may differ from that anticipated. See note 13 for the value of provisions included within the accounts.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Analysis of turnover by geographical location:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
7.Taxation (continued)
There were no factors that may affect future tax charges.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
See note 2.12 for details regarding the estimation involved in the provision.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
During the current and prior year, the company was controlled by Michael Spink by virtue of his shareholding.
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