REGISTERED NUMBER: 11809056 (England and Wales)

SPARSHATTS GROUP LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S C Prebble

L Jones

B M Jellett

REGISTERED OFFICE:

Unit 2 Station Industrial Estate

Duncan Road

Park Gate

Southampton

SO31 1BX

REGISTERED NUMBER:

11809056 (England and Wales)

AUDITORS:

Rothmans Audit LLP

Statutory Auditors

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Eastleigh

Hampshire

SO53 2DR

FIXED ASSETS

Tangible assets

4

-

1,183

CURRENT ASSETS

Stocks

5

3,526,802

4,013,830

Debtors

6

329,250

400,472

Cash at bank

93,716

175,397

3,949,768

4,589,699

CREDITORS

Amounts falling due within one year

7

3,832,416

4,695,557

NET CURRENT ASSETS/(LIABILITIES)

117,352

(105,858

)

TOTAL ASSETS LESS CURRENT LIABILITIES

117,352

(104,675

)

PROVISIONS FOR LIABILITIES

10

34,818

125,306

NET ASSETS/(LIABILITIES)

82,534

(229,981

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

11

82,434

(230,081

)

SHAREHOLDERS' FUNDS

82,534

(229,981

)

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 27 May 2026 and were signed on its behalf by:

L Jones - Director

1.	COMPANY INFORMATION

Sparshatts Group Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number is 11809056 and the registered office address is Unit 2 Station Industrial Estate, Duncan Road, Park Gate, Southampton, SO31 1BX.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Finanical 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.

The presentation currency is £ sterling.

Going concern

The financial statements have been prepared on the going concern basis.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Leases

A lease that does not transfer substantially all of the risk and rewards of ownership is classified as an operating lease and is therefore not included in the balance sheet.

The directors don't consider there to be any significant estimates.

Turnover

Turnover represents net sales during the year (excluding value added tax and discounts) adjusted for accrued and deferred income where applicable.

Turnover relates to the sale and servicing of vehicles and commissions receivable. Vehicle sales are recognised when the goods are delivered to or collected by the customer. Turnover from the service of vehicles is recognised when the work is complete. Turnover arising from commissions is recognised when the customer is in receipt of the goods the commission relates to.

Tangible fixed assets

All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life as follows:

Fixtures and fittings

12 - 36 months straight line

Motor vehicles

12 - 36 months straight line

Computer equipment

12 - 36 months straight line

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Income Statement.

Stocks

Stock is stated at the lower of cost and net realisable value.

Vehicle stock is based on the purchase price of the vehicle plus any costs in bringing the vehicle to a suitable condition to sell. Provisions against cost are made where appropriate where the directors assess the estimated selling price to be lower than cost.

Work in progress is measured at the cost of labour and materials.

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 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 is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date except that the recognition of deferred tax assets is limited to the extent that the company anticipates generating sufficient taxable profits in the future to fully absorb the reversal of the underlying timing differences.

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.

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 the Income Statement in the period to which they relate.

Financial instruments

Basic financial instruments are measured at amortised cost.

Warranty provision

The warranty provision represents the expected future costs to be incurred in order to repair vehicles under the period of the warranty.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2024 - 39 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2024

and 31 May 2025

165,369

18,759

46,287

230,415

DEPRECIATION

At 1 June 2024

164,186

18,759

46,287

229,232

Charge for year

1,183

-

-

1,183

At 31 May 2025

165,369

18,759

46,287

230,415

NET BOOK VALUE

At 31 May 2025

-

-

-

-

At 31 May 2024

1,183

-

-

1,183

5.

STOCKS

2025

2024

£

£

Finished goods

3,524,443

4,007,799

Work-in-progress

2,359

6,031

3,526,802

4,013,830

The carrying value of stock includes £3,260,162 (2024: £3,800,538) pledged as security for liabilities.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

139,183

178,321

Other debtors

23,516

7,308

Prepayments and accrued income

166,551

214,843

329,250

400,472

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Vehicle stocking loan

3,215,714

2,986,192

Trade creditors

324,454

307,363

Amounts owed to group undertakings

-

211,203

Social security and other taxes

72,293

69,258

VAT

74,596

168,994

Other creditors

3,734

8,604

Accruals and deferred income

141,625

943,943

3,832,416

4,695,557

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

259,000

375,000

Between one and five years

561,167

1,187,500

820,167

1,562,500

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Other loans

3,215,714

2,986,192

Accruals and deferred income

-

804,721

3,215,714

3,790,913

The vehicle stocking loan (included in other loans) falling due within one year is secured against the stock items to which they relate.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Other provisions

Warranty provision

34,818

125,306

Warranty provision

£

Balance at 31 May 2024

125,306

Utilised during the year

(90,488

)

Balance at 31 May 2025

34,818

11.

RESERVES

Capital

Retained

contribution

earnings

reserve

Totals

£

£

£

At 1 June 2024

(230,081

)

-

(230,081

)

Deficit for the year

(434,329

)

(434,329

)

Capital contribution paid

-

746,844

746,844

Transfer

746,844

(746,844

)

-

At 31 May 2025

82,434

-

82,434

Retained earnings are the accumulated profit and losses to date.

The capital contribution reserve represents funds injected to the capital of the business by shareholders.

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

The Report of the Auditors was unqualified.

Kevin Richards (Senior Statutory Auditor)

for and on behalf of Rothmans Audit LLP

13.	CONTINGENT LIABILITIES

The company has entered into a guarantee arrangement in respect of the bank borrowings of its parent company, All About The Buildings Limited. The bank loans are secured by way of a fixed and floating charge over all the company's assets. The total indebtedness at the balance sheet date is £1,732,450 (2024: £1,930,418).

14.	RELATED PARTY DISCLOSURES

During the period, purchases of £405,374 (2024: £420,509) were made from MediaQuest Ltd, a company in which Mr L Jones is a shareholder and director. The balance due to MediaQuest Ltd at the year end was £32,405 (2024: £39,272).

15.	ULTIMATE PARENT COMPANY

The company is a subsidiary of All About The Buildings Limited which is the ultimate parent company incorporated in England & Wales. The registered office address is Unit 2 Station Industrial Estate, Duncan Road, Park Gate, Southampton, SO31 1BX.

The largest and smallest group in which the results of the company are consolidated is that headed by All About The Buildings Limited, incorporated in England & Wales. The consolidated accounts of this company are available to the public and may be obtained from Companies House. No other group accounts include the results of the company.