SPC (KL) Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

1. General Information

SPC (KL) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12709733 . The registered office is Unit 3, North Lynn Business Village, Bergen Way, King's Lynn, Norfolk, PE30 2JG. The presentation currency of the financial statements is the Pound Sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 2 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

25% reducing balance

2.5. Financial Instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

...CONTINUED

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SPC (KL) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Financial Instruments - continued

Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 20 (2024: 22)

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 April 2024	7,937	25,945	33,882

As at 31 March 2025	7,937	25,945	33,882

Amortisation
As at 1 April 2024	7,937	-	7,937

As at 31 March 2025	7,937	-	7,937

Net Book Value
As at 31 March 2025	-	25,945	25,945

As at 1 April 2024	-	25,945	25,945

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SPC (KL) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 April 2024	28,249
Additions	1,372

As at 31 March 2025	29,621

Depreciation
As at 1 April 2024	18,439
Provided during the period	2,664

As at 31 March 2025	21,103

Net Book Value
As at 31 March 2025	8,518

As at 1 April 2024	9,810

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	165,901	148,067
Amounts owed by participating interests	18,212	110,065
Other debtors	11,543	26,979

	195,656	285,111

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	2,250	15,870
Amounts owed to participating interests	44,682	88,830
Other creditors	20,636	25,879
Taxation and social security	123,481	131,425

	191,049	262,004

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		25,945		25,945
Tangible Assets	5		8,518		9,810

			34,463		35,755
CURRENT ASSETS
Debtors	6	195,656		285,111
Cash at bank and in hand		38,508		41,559

		234,164		326,670
Creditors: Amounts Falling Due Within One Year	7	(191,049 )		(262,004 )

NET CURRENT ASSETS (LIABILITIES)			43,115		64,666

TOTAL ASSETS LESS CURRENT LIABILITIES			77,578		100,421

PROVISIONS FOR LIABILITIES
Deferred Taxation			(2,130 )		(2,453 )

NET ASSETS			75,448		97,968

CAPITAL AND RESERVES
Called up share capital	8		100		100
Income Statement			75,348		97,868

SHAREHOLDERS' FUNDS			75,448		97,968