REGISTERED NUMBER: 01812902 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

NSP DEVELOPMENT & MANUFACTURING

ENGINEERS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs C West

SECRETARIES:

Mrs C West

B M West

REGISTERED OFFICE:

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

REGISTERED NUMBER:

01812902 (England and Wales)

AUDITORS:

Watson Associates (Audit Services) Ltd

Statutory Auditor

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Intangible assets

4

92,962

-

Tangible assets

5

632,567

703,721

725,529

703,721

CURRENT ASSETS

Stocks

1,494,772

1,388,808

Debtors

6

2,696,285

2,760,203

Cash at bank and in hand

410,648

1,032,843

4,601,705

5,181,854

CREDITORS

Amounts falling due within one year

7

(349,642

)

(718,037

)

NET CURRENT ASSETS

4,252,063

4,463,817

TOTAL ASSETS LESS CURRENT LIABILITIES

4,977,592

5,167,538

CREDITORS

Amounts falling due after more than one year

8

(698,381

)

(438,964

)

PROVISIONS FOR LIABILITIES

(77,262

)

(137,119

)

NET ASSETS

4,201,949

4,591,455

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

4,201,849

4,591,355

SHAREHOLDERS' FUNDS

4,201,949

4,591,455

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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 October 2025 and were signed by:

Mrs C West - Director

1.	STATUTORY INFORMATION

NSP Development & Manufacturing Engineers 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 place of business is Unit 5, Industrial Park, 6 Diplocks Way, Hailsham, BN27 3JF.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1998, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

33% on cost and 10% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions 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.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

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.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 32 (2024 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

COST

At 1 April 2024

39,779

-

39,779

Additions

-

116,203

116,203

At 31 March 2025

39,779

116,203

155,982

AMORTISATION

At 1 April 2024

39,779

-

39,779

Amortisation for year

-

23,241

23,241

At 31 March 2025

39,779

23,241

63,020

NET BOOK VALUE

At 31 March 2025

-

92,962

92,962

At 31 March 2024

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

2,083,730

341,520

292,384

2,717,634

Additions

1,162

50,497

51,250

102,909

Disposals

-

(38,250

)

(34,596

)

(72,846

)

At 31 March 2025

2,084,892

353,767

309,038

2,747,697

DEPRECIATION

At 1 April 2024

1,682,219

237,535

94,159

2,013,913

Charge for year

40,113

31,540

61,950

133,603

Eliminated on disposal

-

-

(32,386

)

(32,386

)

At 31 March 2025

1,722,332

269,075

123,723

2,115,130

NET BOOK VALUE

At 31 March 2025

362,560

84,692

185,315

632,567

At 31 March 2024

401,511

103,985

198,225

703,721

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

162,924

Additions

51,250

At 31 March 2025

214,174

DEPRECIATION

At 1 April 2024

21,605

Charge for year

48,142

At 31 March 2025

69,747

NET BOOK VALUE

At 31 March 2025

144,427

At 31 March 2024

141,319

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

412,716

604,853

Amounts owed by group undertakings

2,184,232

2,034,232

Other debtors

99,337

121,118

2,696,285

2,760,203

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

55,984

63,105

Hire purchase contracts (see note 9)

52,745

36,404

Trade creditors

108,514

339,428

Taxation and social security

104,384

81,365

Other creditors

28,015

197,735

349,642

718,037

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

662,463

382,083

Hire purchase contracts (see note 9)

35,918

56,881

698,381

438,964

2025

2024

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

395,304

262,566

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

52,745

36,404

Between one and five years

35,918

56,881

88,663

93,285

Non-cancellable

operating leases

2025

2024

£

£

Within one year

56,250

75,000

Between one and five years

-

56,250

56,250

131,250

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen James Moore (Senior Statutory Auditor)

for and on behalf of Watson Associates (Audit Services) Ltd

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company.

13.	PARENT COMPANY

The ultimate parent company is NSP Group Limited. The registered office of the parent company is 30-34 North Street, Hailsham, East Sussex, BN27 1DW. Consolidated financial statements can be obtained from this address.