REGISTERED NUMBER: 08560273 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

SPS (CORNWALL) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S P Surridge

Mrs E L Surridge

REGISTERED OFFICE:

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

REGISTERED NUMBER:

08560273 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

18,515

20,817

18,515

20,817

CURRENT ASSETS

Stocks

7,446

6,648

Debtors

6

14,750

11,314

Cash at bank

104,169

97,972

126,365

115,934

CREDITORS

Amounts falling due within one year

7

29,786

29,800

NET CURRENT ASSETS

96,579

86,134

TOTAL ASSETS LESS CURRENT LIABILITIES

115,094

106,951

PROVISIONS FOR LIABILITIES

564

732

NET ASSETS

114,530

106,219

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

114,430

106,119

SHAREHOLDERS' FUNDS

114,530

106,219

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2025 and were signed on its behalf by:

Mrs E L Surridge - Director

S P Surridge - Director

1.	STATUTORY INFORMATION

SPS (Cornwall) 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.

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 represents income from the sale of goods and services, net of value added tax calculated on the flat rate scheme. Turnover is recognised when an invoice is raised for the work carried out by the company.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, was amortised evenly over it's estimated useful life of five years. An amortisation period of 5 years was agreed by the directors due to the trading history of the business, local competition and an ongoing contract with a local car dealership.

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.

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

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

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 5 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2024

and 30 June 2025

28,000

AMORTISATION

At 1 July 2024

and 30 June 2025

28,000

NET BOOK VALUE

At 30 June 2025

-

At 30 June 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2024

32,054

27,500

4,310

63,864

Additions

3,770

-

340

4,110

At 30 June 2025

35,824

27,500

4,650

67,974

DEPRECIATION

At 1 July 2024

22,263

16,830

3,954

43,047

Charge for year

3,390

2,668

354

6,412

At 30 June 2025

25,653

19,498

4,308

49,459

NET BOOK VALUE

At 30 June 2025

10,171

8,002

342

18,515

At 30 June 2024

9,791

10,670

356

20,817

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Trade debtors

13,460

11,254

Prepayments

1,290

60

14,750

11,314

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Trade creditors

7,747

5,418

Corporation tax

11,410

8,396

Social security and other taxes

8,816

8,873

Other creditors

231

5,607

Directors' current accounts

51

30

Accrued expenses

1,531

1,476

29,786

29,800

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr S P and Mrs E Surridge by vitue of the fact that between them they hold 100% of the company's ordinary share capital.