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Company No: 01337437 (England and Wales)

# SPRY'S OF LAUNCESTON LIMITED

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

SPRY'S OF LAUNCESTON LIMITED

## Unaudited Financial Statements

For the financial year ended 30 June 2025

Contents

SPRY'S OF LAUNCESTON LIMITED

## BALANCE SHEET

As at 30 June 2025
SPRY'S OF LAUNCESTON LIMITED

## BALANCE SHEET (continued)

As at 30 June 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 427,564 |  | 459,495
|  | 427,564 |  | 459,495
Current assets |  |  |  |
Stocks |  | 838,613 |  | 745,320
Debtors | 4 | 61,459 |  | 66,297
Cash at bank and in hand |  | 408,421 |  | 456,353
|  | 1,308,493 |  | 1,267,970
Creditors: amounts falling due within one year | 5 | ( 641,015) |  | ( 687,037)
Net current assets |  | 667,478 |  | 580,933
Total assets less current liabilities |  | 1,095,042 |  | 1,040,428
Provision for liabilities |  | ( 25,420) |  | ( 4,594)
Net assets |  | 1,069,622 |  | 1,035,834
Capital and reserves |  |  |  |
Called-up share capital | 6 | 100 |  | 100
Share premium account |  | 121,476 |  | 121,476
Profit and loss account |  | 948,046 |  | 914,258
Total shareholder's funds |  | 1,069,622 |  | 1,035,834

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

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges 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 Profit and Loss Account has not been delivered.

The financial statements of Spry's of Launceston Limited (registered number: 01337437) were approved and authorised for issue by the Director on 06 March 2026. They were signed on its behalf by:

Mr P Spry Director |

SPRY'S OF LAUNCESTON LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025
SPRY'S OF LAUNCESTON LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 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

Spry's of Launceston 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 Pennygillam Way, Pennygillam Industrial Estate, Launceston, Cornwall, United Kingdom, PL15 7ED, United Kingdom.
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 £.

##### 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. Revenue from services is recognised as they are delivered.

##### 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.

##### 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 straight-line and reducing balance basis over its expected useful life, as follows:

Leasehold improvements | 5 years straight line
Plant and machinery | 15 - 25 % reducing balance
Fixtures and fittings | 15 % 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 Profit and Loss Account 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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. 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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

##### 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 the director | 12 |  | 14

#### 3. Tangible assets

| Leasehold improve- ments |  | Plant and machinery |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 July 2024 | 486,875 |  | 129,060 |  | 126,061 |  | 741,996
Additions | 0 |  | 0 |  | 315 |  | 315
At 30 June 2025 | 486,875 |  | 129,060 |  | 126,376 |  | 742,311
Accumulated depreciation |  |  |  |  |  |  |
At 01 July 2024 | 72,825 |  | 107,590 |  | 102,086 |  | 282,501
Charge for the financial year | 24,344 |  | 4,294 |  | 3,608 |  | 32,246
At 30 June 2025 | 97,169 |  | 111,884 |  | 105,694 |  | 314,747
Net book value |  |  |  |  |  |  |
At 30 June 2025 | 389,706 |  | 17,176 |  | 20,682 |  | 427,564
At 30 June 2024 | 414,050 |  | 21,470 |  | 23,975 |  | 459,495

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 51,795 |  | 50,669
Other debtors | 9,664 |  | 15,628
| 61,459 |  | 66,297

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

| 2025 |  | 2024
| £ |  | £
Trade creditors | 19,395 |  | 48,914
Amounts owed to Group undertakings | 457,240 |  | 457,240
Taxation and social security | 51,038 |  | 60,666
Other creditors | 113,342 |  | 120,217
| 641,015 |  | 687,037

#### 6. Called-up share capital

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

#### 7. Related party transactions

Other related party transactions

During the year, Spry's of Launceston Limited owed £457,240 (2024: £457,240) to FIMP Developments Limited, an entity classified as an associated company. No interest has been charged and the amount is repayable on demand.

#### 8. Ultimate controlling party

Parent Company:

FIMP Developments Limited
Pennygillam Way, Pennygillam Industrial Estate, Launceston, Cornwall, United Kingdom, PL15 7ED

The financial statements for FIMP Developments Limited can be found at Crown Way, Cardiff CF14 3UZ.