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Company No: 07194402 (England and Wales)

# LESS 4 SPARES LIMITED

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

LESS 4 SPARES LIMITED

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

LESS 4 SPARES LIMITED

## BALANCE SHEET

As at 30 April 2025
LESS 4 SPARES LIMITED

## BALANCE SHEET (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 8,494 |  | 65,092
Investments | 5 | 100 |  | 100
|  | 8,594 |  | 65,192
Current assets |  |  |  |
Stocks | 6 | 158,108 |  | 186,730
Debtors | 7 | 177,400 |  | 189,520
Cash at bank and in hand |  | 18,408 |  | 61,433
|  | 353,916 |  | 437,683
Creditors: amounts falling due within one year | 8 | ( 167,573) |  | ( 225,062)
Net current assets |  | 186,343 |  | 212,621
Total assets less current liabilities |  | 194,937 |  | 277,813
Creditors: amounts falling due after more than one year | 9 | ( 3,000) |  | ( 34,729)
Provision for liabilities |  | 0 |  | ( 7,668)
Net assets |  | 191,937 |  | 235,416
Capital and reserves |  |  |  |
Called-up share capital | 10 | 100 |  | 100
Other reserves |  | 12,669 |  | 12,669
Profit and loss account |  | 179,168 |  | 222,647
Total shareholders' funds |  | 191,937 |  | 235,416

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Less 4 Spares Limited (registered number: 07194402) were approved and authorised for issue by the Board of Directors on 11 December 2025. They were signed on its behalf by:

Mr R Kujawski Director |

LESS 4 SPARES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
LESS 4 SPARES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Less 4 Spares Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Packaging House, Wilson Way, Redruth, TR15 3RS, United Kingdom. The principal place of business is Packaging House, Wilson Way, Pool, Redruth, Cornwall, TR15 3QN.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 2 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery | 25 % reducing balance
Vehicles | 25 % reducing balance
Fixtures and fittings | 25 % reducing balance
Office equipment | 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 10 |  | 10

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 May 2024 | 200,000 |  | 200,000
At 30 April 2025 | 200,000 |  | 200,000
Accumulated amortisation |  |  |
At 01 May 2024 | 200,000 |  | 200,000
At 30 April 2025 | 200,000 |  | 200,000
Net book value |  |  |
At 30 April 2025 | 0 |  | 0
At 30 April 2024 | 0 |  | 0

#### 4. Tangible assets

| Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 May 2024 | 13,019 |  | 79,615 |  | 46,476 |  | 31,632 |  | 170,742
Additions | 0 |  | 0 |  | 579 |  | 0 |  | 579
Disposals | 0 |  | ( 79,615) |  | 0 |  | 0 |  | ( 79,615)
At 30 April 2025 | 13,019 |  | 0 |  | 47,055 |  | 31,632 |  | 91,706
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 May 2024 | 10,397 |  | 25,158 |  | 44,843 |  | 25,252 |  | 105,650
Charge for the financial year | 656 |  | 10,862 |  | 469 |  | 1,595 |  | 13,582
Disposals | 0 |  | ( 36,020) |  | 0 |  | 0 |  | ( 36,020)
At 30 April 2025 | 11,053 |  | 0 |  | 45,312 |  | 26,847 |  | 83,212
Net book value |  |  |  |  |  |  |  |  |
At 30 April 2025 | 1,966 |  | 0 |  | 1,743 |  | 4,785 |  | 8,494
At 30 April 2024 | 2,622 |  | 54,457 |  | 1,633 |  | 6,380 |  | 65,092
Leased assets included above: |  |  |  |  |  |  |  |  |
Net book value |  |  |  |  |  |  |  |  |
At 30 April 2025 | 0 |  | 0 |  | 0 |  | 0 |  | 0
At 30 April 2024 | 0 |  | 54,457 |  | 0 |  | 0 |  | 54,457

#### 5. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 May 2024 | 100
At 30 April 2025 | 100
Carrying value at 30 April 2025 | 100
Carrying value at 30 April 2024 | 100

Investments in shares

Name of entity | Registered office | Principal activity | Class of shares | Ownership 30.04.2025 | Ownership 30.04.2024
Jump 4 South West Limited | Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA | Trampoline Park | Ordinary | 100.00% | 100.00%

#### 6. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 158,108 |  | 186,730

#### 7. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 1,785 |  | 11,269
Deferred tax asset | 1,461 |  | 0
Other debtors | 174,154 |  | 178,251
| 177,400 |  | 189,520

#### 8. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans and overdrafts | 16,071 |  | 6,000
Trade creditors | 30,170 |  | 108,965
Amounts owed to directors | 2,022 |  | 0
Accruals | 5,057 |  | 5,357
Taxation and social security | 89,880 |  | 69,342
Obligations under finance leases and hire purchase contracts | 0 |  | 16,379
Other creditors | 24,373 |  | 19,019
| 167,573 |  | 225,062

#### 9. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 3,000 |  | 9,000
Obligations under finance leases and hire purchase contracts | 0 |  | 25,729
| 3,000 |  | 34,729

The company bankers hold a charge over the assets of the company.

#### 10. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 11. Related party transactions

Transactions with entities in which the entity itself has a participating interest

| 2025 |  | 2024
| £ |  | £
Jump 4 South West Limited | 111,894 |  | 87,209

The company owns 100% of the share capital in Jump 4 South West Limited. There is an ongoing intercompany loan between the two entities, for which the balances at the year end date is shown above. Less 4 Spares Limited does not charge any interest on the outstanding loan balance with Jump 4 South West Limited.

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Mr R Kujawski | 0 |  | 20,609
Mrs G Kujawska | 0 |  | 20,608

Advances

Advances have been made to the directors during the year totalling £41,983, with repayments made by the directors of £83,200. The outstanding balances are subject to interest at 2.25% and repayable on demand.