1.
General Information
Spectra Group (UK) Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04570376
. The registered office is Bridge Court Barn, Kingstone, Herefordshire, HR2 9ES.
Spectra Group (UK) Limited, hereafter Spectra UK, is a provider of secure voice, data and satellite communications, for locations with limited or compromised infrastructure.
Spectra Group (US) Inc, hereafter Spectra US, is a provider of secure voice, data and satellite communications, for locations with limited or compromised infrastructure.
Spectra Group (AUS) Pty, hereafter Spectra AUS, is a provider of secure voice, data and satellite communications, for locations with limited or compromised infrastructure.
The main customers of the Spectra Group, hereafter the 'Group', are members of the Defence & Government Organisations.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity, and are rounded to the nearest pound.
2.2.
Basis Of Consolidation
The financial statements consolidate the financial statements of Spectra Group (UK) Limited and all of its subsidiary undertakings.
The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.
The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.
2.3.
Financial Reporting Standard 102 - Reduced Disclosure Exemptions
The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:
-
the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d);
2.4.
Going Concern Disclosure
2.4.
Going Concern Disclosure - continued
Spectra Group saw a 22% reduction in its turnover in the 2025 financial year, largely as a result of delays in expected sales orders. Spectra Group has grown its worldwide customer base significantly and has been affected by current global events, which have seen Governments delay their spending. In addition to this, Spectra Group has seen an increase in lead times by its suppliers, which meant that one specific sale, over £3 million in value and due to complete in July 2025, didn’t complete until August 2025.
The delay in sales orders in the 2025 financial year meant that Spectra started the 2026 financial year well, achieving turnover of £21 million in the first 8 months, with a gross profit margin of 22%. Overall turnover for the 2026 financial year is expected to be similar to that of 2024, with further growth in 2027.
Spectra Group entered into a Revolving Credit Facility with their bank in July 2023, in order to help fund the development of its new GENSS product. This loan facility is reflected in creditors within the financial statements and is due to be repaid by January 2027. Sales forecasts project that this is possible, however, should the repayment date not be met, Spectra Group has discussed possible alternatives with the bank to restructure the debt.
...CONTINUED
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
The Group has capitalised the majority of the GENSS development costs in the financial statements and it is expected that Spectra Group will recover these costs, with forecasted sales of the GENSS product, within the first two years of its launch. Spectra Group has been able to secure strong supplier relationships, with its developers and manufacturers, negotiating an efficient supply chain, which will mean that initially Spectra Group will not have to invest in a large amount of stock in order to begin meeting sales requirements. Additionally, the introduction of GENSS product sales is expected to increase customer Airtime requirements and so an increase in Airtime sales is also expected in the 2027 Financial Year.
Cashflow and forecasts are carefully monitored and the Group believes that the current pressure on the business is short term. The bank is fully supportive of the business and is kept fully up to date with the progress being made. Although the cash position was overdrawn at the end of July 2025, the overdraft has not been used since that date but is available to Spectra should it be required.
The directors, therefore, consider the Group to be a going concern and the financial statements have been prepared on that basis.
2.5.
Turnover
Turnover is the amount derived from the provision of good and services, measured at the fair value of the consideration received or receivable, net of discounts, other sales taxes and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
2.6.
Research and Development
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. They represent development costs and are capitalised when it is probable that the future economic benefits that are attributable to them will flow to the entity; and the cost of the asset can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs - 10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
2.7.
Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Freehold |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
| Computer Software |
|
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
2.8.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
2.9.
Leasing and Hire Purchase Contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
2.10.
Stocks and Work in Progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes direct labour, direct materials and an appropriate proportion of production overheads incurred in bringing the work to its present stage of completion.
2.11.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy).
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
2.12.
Foreign Currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
2.13.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2.14.
Provisions and Contingencies
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
2.15.
Pensions
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3.
Turnover
Analysis of turnover by class of business is as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Rendering of services | 8,237,318 | 10,299,813 | |
| Sale of goods | 13,662,859 | 17,791,714 | |
| 21,900,177 | 28,091,527 | ||
Analysis of turnover by geographical market is as follows:
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| United Kingdom |
|
|
|
| Rest of the world |
|
|
|
| 21,900,177 | 28,091,527 | ||
4.
Other Operating Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other operating income |
|
|
|
| 13,570 | - | ||
5.
Operating Profit
The operating profit is stated after charging:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Research and Development Costs |
|
|
|
| Operating lease rentals |
|
|
|
| Depreciation of tangible fixed assets |
|
|
|
| Amortisation of intangible fixed assets | - |
( |
|
6.
Auditor's Remuneration
Remuneration received by the group's auditors and their associates during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the group and company's financial statements |
|
|
|
| Other Services | |||
| Other non-audit services |
|
|
|
7.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Wages and salaries |
|
|
|
|
|||
| Social security costs |
|
|
|
|
|||
| Other pension costs |
|
|
|
|
|||
|
|
|
|
|
||||
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
8.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| Office and administration |
|
|
|
|
|||
| Sales, marketing and distribution |
|
|
|
|
|||
| Engineers |
|
|
|
|
|||
| Logistics |
|
|
|
|
|||
|
|
|
|
|
||||
9.
Directors' remuneration
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
The number of directors to whom retirement benefits were accruing was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
10.
Interest Receivable and Similar Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
11.
Interest Payable and Similar Charges
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
12.
Tax on Profit
The tax (credit)/charge on the profit for the year was as follows:
| Tax Rate | 2025 | 2024 | |||
|---|---|---|---|---|---|
| 2025 | 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Prior period adjustment |
( |
( |
|||
|
( |
( |
||||
| Deferred Tax | |||||
| Deferred taxation |
|
|
|||
| Total tax charge for the period |
( |
|
|||
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
The actual (credit)/charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 677,781 | 2,461,658 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Tax losses utilised |
( |
|
|||
| Capital allowances |
( |
( |
|||
| Prior period adjustment |
( |
( |
|||
| Difference in tax rates |
|
|
|||
| Total tax charge for the period | (158,742) | 663,359 | |||
13.
Intangible Assets
Group
Company
| Development Costs | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 August 2024 |
|
||
| Additions |
|
||
| As at 31 July 2025 |
|
||
| Amortisation | |||
| As at 1 August 2024 |
|
||
| As at 31 July 2025 |
|
||
| Net Book Value | |||
| As at 31 July 2025 |
|
||
| As at 1 August 2024 |
|
||
Amortisation of development costs is included in administration expenses in the profit and loss account. All additions in the year were externally acquired. Included in the Net Book Value is £394,130 of fully amortised cost related to the Slingshot product and £4,758,546 of cost for the GENSS product, which was unamortised at 31 July 2025 as the asset is still under development.
| Development Costs | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 August 2024 |
|
||
| Additions |
|
||
| As at 31 July 2025 |
|
||
...CONTINUED
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
| Amortisation | |||
| As at 1 August 2024 |
|
||
| As at 31 July 2025 |
|
||
| Net Book Value | |||
| As at 31 July 2025 |
|
||
| As at 1 August 2024 |
|
||
14.
Tangible Assets
Group
Company
| Land & Property | ||||
|---|---|---|---|---|
| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 August 2024 |
|
|
|
|
| Additions |
|
|
|
|
| Disposals |
|
( |
|
|
| As at 31 July 2025 |
|
|
|
|
| Depreciation | ||||
| As at 1 August 2024 |
|
|
|
|
| Provided during the period |
|
|
|
|
| Disposals |
|
( |
|
|
| As at 31 July 2025 |
|
|
|
|
| Net Book Value | ||||
| As at 31 July 2025 |
|
|
|
|
| As at 1 August 2024 |
|
|
|
|
| Computer Software | Total | |
|---|---|---|
| £ | £ | |
| Cost | ||
| As at 1 August 2024 |
|
|
| Additions |
|
|
| Disposals |
|
( |
| As at 31 July 2025 |
|
|
| Depreciation | ||
| As at 1 August 2024 |
|
|
| Provided during the period |
|
|
| Disposals |
|
( |
| As at 31 July 2025 |
|
|
...CONTINUED
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
| Net Book Value | ||
| As at 31 July 2025 |
|
|
| As at 1 August 2024 |
|
|
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Motor Vehicles |
|
|
|
| Land & Property | ||||
|---|---|---|---|---|
| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 August 2024 |
|
|
|
|
| Additions |
|
|
|
|
| Disposals |
|
( |
|
|
| As at 31 July 2025 |
|
|
|
|
| Depreciation | ||||
| As at 1 August 2024 |
|
|
|
|
| Provided during the period |
|
|
|
|
| Disposals |
|
( |
|
|
| As at 31 July 2025 |
|
|
|
|
| Net Book Value | ||||
| As at 31 July 2025 |
|
|
|
|
| As at 1 August 2024 |
|
|
|
|
| Computer Software | Total | |
|---|---|---|
| £ | £ | |
| Cost | ||
| As at 1 August 2024 |
|
|
| Additions |
|
|
| Disposals |
|
( |
| As at 31 July 2025 |
|
|
| Depreciation | ||
| As at 1 August 2024 |
|
|
| Provided during the period |
|
|
| Disposals |
|
( |
| As at 31 July 2025 |
|
|
...CONTINUED
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
| Net Book Value | ||
| As at 31 July 2025 |
|
|
| As at 1 August 2024 |
|
|
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Motor Vehicles |
|
|
|
15.
Investments
Company
| Subsidiaries | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 August 2024 |
|
| Additions |
|
| As at 31 July 2025 |
|
| Provision | |
| As at 1 August 2024 |
|
| As at 31 July 2025 |
|
| Net Book Value | |
| As at 31 July 2025 |
|
| As at 1 August 2024 |
|
Subsidiaries
Details of the group's subsidiaries as at 31 July 2025 are as follows:
| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
|---|---|---|---|---|
|
|
7703 Kingspointe Parkway No. 700, Orlando, FL. 32819 |
|
|
- |
|
|
Unit 3, Level 1, 40 Blackall Street, Barton ACT 2600 |
|
|
- |
|
|
Bridge Court Barn, Kingstone, Herefordshire, HR2 9ES |
|
|
- |
16.
Stocks
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Stock |
|
|
|
|
|||
| Work in progress |
|
|
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|
|||
|
|
|
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|
||||
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
17.
Debtors
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Due within one year | |||||||
| Trade debtors |
|
|
|
|
|||
| Prepayments and accrued income |
|
|
|
|
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| Other debtors |
|
|
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|
|||
| Corporation tax recoverable assets |
|
|
|
|
|||
| VAT |
|
|
- |
|
|||
| Directors' loan accounts |
|
|
|
|
|||
| Amounts owed by group undertakings | - | - |
|
|
|||
|
|
|
|
|
||||
18.
Creditors: Amounts Falling Due Within One Year
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
| Trade creditors |
|
|
|
|
|||
| Bank loans and overdrafts |
|
|
|
|
|||
| Other taxes and social security |
|
|
|
|
|||
| VAT | - | - |
|
- | |||
| Other creditors |
|
|
|
|
|||
| Accruals and deferred income |
|
|
|
|
|||
|
|
|
|
|
||||
19.
Creditors: Amounts Falling Due After More Than One Year
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
| Bank loans |
|
|
|
|
|||
|
|
|
|
|
||||
Of the creditors falling due after more than one year the following amounts are due after more than five years.
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Bank loans |
|
|
|
|
|||
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
20.
Loans
An analysis of the maturity of loans is given below:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Amounts falling due within one year or on demand: | |||||||
| Bank loans |
|
|
|
|
|||
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Amounts falling due between one and five years: | |||||||
| Bank loans |
|
|
|
|
|||
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Amounts falling due after more than five years: | |||||||
| Bank loans |
|
|
|
|
|||
There are two facilities included within bank loans and overdrafts for the Group and parent company.
Spectra UK entered into a revolving credit facility (RCF) with Natwest in July 2023, which made a facility of £5,000,000 available on a draw down basis. The facility is flexible and can be repaid and drawn down in line with the Group's requirements. The interest is calculated on a monthly basis based on the amount outstanding. Interest on this facility is 2.37% above base rate. As at the 31 July 2025, the amount owed under this facility was £5,000,000 (2024: £3,500,00).
There is also a mortgage held with Natwest against the business property. This mortgage was entered into in November 2020 at an interest rate of 2.15% above base rate. The repayment term is 20 years. As at the 31st July 2025, the amount outstanding was £489,234 (2024: £506,012).
The bank loan and overdraft facilities for the Group and parent company are secured by a debenture dated 15th November 2019 over all assets of the company and a first legal charge dated 5th February 2021 over the company's freehold premises at Bridge Court Barn, Kingston, Hereford, Herefordshire, HR2 9ES.
21.
Obligations Under Finance Leases and Hire Purchase
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| The future minimum finance lease payments are as follows: | |||||||
| Not later than one year |
|
|
|
|
|||
| Later than one year and not later than five years |
|
|
|
|
|||
|
|
|
|
|
||||
|
|
|
|
|
||||
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
22.
Deferred Taxation
The provision for deferred tax is made up as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Other timing differences | 1,232,256 | 1,155,858 | 1,232,256 | 1,155,858 | |||
23.
Provisions for Liabilities
| Group | ||
|---|---|---|
| Deferred Tax | Total | |
| £ | £ | |
| As at 1 August 2024 |
|
1,155,858 |
| Deferred taxation |
|
|
| Balance at 31 July 2025 |
|
1,232,256 |
| Company | ||
|---|---|---|
| Deferred Tax | Total | |
| £ | £ | |
| As at 1 August 2024 |
|
1,155,858 |
| Deferred taxation |
|
|
| Balance at 31 July 2025 |
|
1,232,256 |
25.
Other Commitments
25.
Other Commitments - continued
As lessee
The total of future minimum lease payments under non-cancellable operating leases are as following:
|
Group
|
Company
|
|||
|
2025
|
2024
|
2025
|
2024
|
|
|
£
|
£
|
£
|
£
|
|
|
Not later than one year
|
1,333,150
|
1,323,689
|
1,333,150
|
1,323,689
|
|
Later than one year and not later than five years
|
87,873
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
90,526
|
87,873
|
90,526
|
|
1,421,023
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
1,414,215
|
1,421,023
|
1,414,215
|
|
...CONTINUED
Spectra Group (UK) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
As lessor
The total future minimum lease payments receivable under non-cancellable operating leases are as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Not later than one year |
|
|
|
|
|||
|
|
|
|
|
||||
26.
Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £118,084 (2024: £100,596).
At the balance sheet date contributions of £17,512 (2024: £16,400) were due to the fund and are included in creditors.
27.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at 1 August 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 July 2025 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Simon Davies |
|
|
|
- |
|
The above loan is unsecured, interest free and repayable on demand.
28.
Dividends
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
|
|
|
29.
Reserves
Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company.
Profit and loss account - This reserve records retained earnings and accumulated losses.
30.
Related Party Disclosures
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the company. Key management personnel (including directors) received compensation of £591,289 (2024: £520,929)
31.
Controlling Parties
The group and company's ultimate controlling party is
Mr S Davies
by virtue of their interest in the share capital of the company.