Spinners Plymouth Limited - Filleted accounts

Registered number

14201517

Spinners Plymouth Limited

Unaudited Filleted Accounts

31 July 2025

Spinners Plymouth Limited
Registered number:		14201517
Balance Sheet
as at 31 July 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		811,904			883,624

Current assets
Stocks		8,570			5,789
Debtors	4	147,950			133,948
Cash at bank and in hand		16,426			10,954
		172,946			150,691

Creditors: amounts falling due within one year	5	(1,496,783)			(1,246,725)

Net current liabilities			(1,323,837)			(1,096,034)

Total assets less current liabilities			(511,933)			(212,410)

Creditors: amounts falling due after more than one year	6		(95,833)			(145,833)



Net liabilities			(607,766)			(358,243)

Capital and reserves
Called up share capital			2			2
Profit and loss account			(607,768)			(358,245)

Shareholder's funds			(607,766)			(358,243)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr J Bylett
Director
Approved by the board on 24 April 2026

Spinners Plymouth Limited
Notes to the Accounts
for the year ended 31 July 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leashold Improvements			over the life of the lease
	Plant and machinery			over 5 years
	Computer equipment			over 3 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Going concern
	These financial statements have been prepared on the going concern basis. The Company incurred a loss of £249,523 for the year ended 31 July 2025 and had net liabilities of £607,766 at that date, including £1,008,340 owed to its parent company. These conditions indicate the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern. The Company's parent, Spinners Group Limited, has indicated that it does not intend to seek repayment of intercompany balances for a period of not less than twelve months from the date of approval of these financial statements. No legally binding commitment to provide further financial support has been given, and Spinners Group Limited retains full discretion as to whether to provide such support in the future. Having regard to the forbearance of the parent in respect of intercompany balances and the director's assessment of the Company's trading prospects for the twelve months from the date of approval of these financial statements, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the going concern basis of preparation being inappropriate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					11		12


3	Tangible fixed assets
		Leasehold improvements		Plant and machinery etc		Computer equipment		Total
£			£		£		£
	Cost
	At 1 August 2024	802,724		144,225		4,302		951,251
	Additions	1,712		7,755		2,771		12,238
	At 31 July 2025	804,436		151,980		7,073		963,489

	Depreciation
	At 1 August 2024	44,095		22,257		1,275		67,627
	Charge for the year	52,563		29,037		2,358		83,958
	At 31 July 2025	96,658		51,294		3,633		151,585

	Net book value
	At 31 July 2025	707,778		100,686		3,440		811,904
	At 31 July 2024	758,629		121,968		3,027		883,624


4	Debtors					2025		2024
£							£

	Trade debtors					2,076		-
	Other debtors					145,874		133,948
						147,950		133,948


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					50,000		50,000
	Trade creditors					92,731		17,136
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					1,008,340		895,017
	Taxation and social security costs					4,444		4,200
	Other creditors					341,268		280,372
						1,496,783		1,246,725


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					95,833		145,833


7	Loans					2025		2024
£							£
	Creditors include:

	Secured bank loans					145,833		195,833

	The bank loan is secured by a fixed and floating charge over all assets.


8	Controlling party

	Spinners Plymouth Limited is controlled by: Spinners Group Limited 27 Old Gloucester Street London WC1N 3AX


9	Other information

	Spinners Plymouth Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Venture House
	Downshire Way
	Bracknell
	Berkshire
	RG12 1WA