Registration number: 06740741 (England & Wales)

Speller Metcalfe Gloucester Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 9

Speller Metcalfe Gloucester Limited

Company Information

Director

M E Clarke

Company secretary

M E Clarke

Registered office

Maple Road Enigma Business Park Malvern Worcestershire WR14 1GQ

Auditors

Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX

Speller Metcalfe Gloucester Limited

(Registration number: 06740741)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Current assets
Debtors	5	13,182,348	8,407,679
Cash at bank and in hand		6,250	16,504
		13,188,598	8,424,183
Creditors: Amounts falling due within one year	6	(12,820,246)	(9,783,890)
Total assets less current liabilities		368,352	(1,359,707)
Provisions	7	(307,843)	(235,634)
Net assets/(liabilities)		60,509	(1,595,341)
Capital and reserves
Called up share capital		30,000	30,000
Profit and loss account		30,509	(1,625,341)
Shareholders' funds/(deficit)		60,509	(1,595,341)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 July 2026
 

M E Clarke
Director

Speller Metcalfe Gloucester Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

1

General information

The Company is a private Company limited by shares capital, incorporated in the United Kingdom.

The address of its registered office is:
Maple Road
Enigma Business Park
Malvern
Worcestershire
WR14 1GQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the Company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Name of parent of group

The Company's immediate parent is Speller Metcalfe Limited, incorporated in the United Kingdom. These financial statements are consolidated in the financial statements of Speller Metcalfe Limited.

The ultimate parent is Speller Metcalfe Group Limited, incorporated in the United Kingdom. The financial statements of Speller Metcalfe Limited are consolidated in the financial statements of Speller Metcalfe Group Limited.

Both of these financial statements may be obtained from the Company's registered office.

Going concern

After reviewing the Company’s forecasts, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Speller Metcalfe Gloucester Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

Key sources of estimation uncertainty

Other than set out in these accounting policies, the following key sources of estimation uncertainty have been identified by management in preparing these financial statements.

Contract revenue
Revenue from contracts is assessed on an individual basis with revenue earned being ascertained based on the stage of completion of the contract which is estimated using a combination of the milestones in the contract and the costs incurred to date compared to the total costs required to complete the contract. Estimates of the total costs to complete are made on a regular basis and subject to management review. These estimates may differ from the actual results due to a variety of factors such as efficiency of working, accuracy of assessment of progress to date and client decision making.

Recoverability of trade debtors and retentions
The company make an estimation of the recoverable value of trade debtors including historic retention balances. When assessing impairment of the trade and other debtors, management consider factors including the current credit rating of the debtor, the ageing profile of the debtor and historical experience.

Long term contracts
Internal and third party surveyors' valuations of individual contracts are used as the basis for establishing turnover and the attributable profit or foreseeable loss recognised at the balance sheet date. Amounts recoverable on contracts, which are included in debtors, arise where internal surveyor valuations are in excess of third party valuations. Third party valuations in excess of internal valuations are deducted from turnover and included within creditors as payments on account. Costs to complete are consistently monitored and updated to ensure correct profitability is recognised.

Each contract is monitored against specific terms and conditions and where additional liabilities or penalties become due these are provided for based on management assessment of end situation taking in independent opinion as and when required.

A specific provision for maintenance costs is allocated to each contract based on an internal surveyor's judgement and experience.

Revenue recognition

Turnover comprises both the invoiced value of goods and services supplied, exclusive of value added tax and trade discounts, driven by third party surveyor valuations, adjusted for unbilled amounts recoverable on contracts calculated by internal surveyor valuations.

The Company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the group's activities.

When the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is measured by the proportion that costs incurred to date bare to the anticipated final contract costs. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably, and its receipt is considered probable. Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Speller Metcalfe Gloucester Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	20%-25% straight line

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Provisions

Provisions are recognised when the Company has an obligation at the reporting date 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Speller Metcalfe Gloucester Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

Financial Instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.‹›

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
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 profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3

Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 0 (2025 - 2).

Speller Metcalfe Gloucester Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

4

Tangible assets

	Furniture, fittings and equipment  £
Cost
At 1 April 2025 and 31 March 2026	127,415
Depreciation
At 1 April 2025 and 31 March 2026	127,415
Carrying amount
At 31 March 2025 and 31 March 2026	-

5

Debtors

	2026 £	2025 £
Amounts due from related parties	9,313,057	8,004,800
Other receivables	168,875	178,361
Deferred tax assets	6,809	7,079
Gross amount due from customers for contract work	3,693,607	217,439
	13,182,348	8,407,679

Amounts due from related parties are interest free, unsecured and repayable on demand.

6

Creditors

	2026 £	2025 £
Due within one year
Trade creditors	226,316	224,982
Amounts due to related parties	3,662,106	2,789,745
Corporation tax liability	486,385	-
Contract accruals	4,438,986	3,830,305
Accruals and deferred income	11,456	10,664
Gross amount due to customers for contract work	3,994,997	2,928,194
	12,820,246	9,783,890

Amounts due from related parties are interest free, unsecured and repayable on demand.

Speller Metcalfe Gloucester Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

7

Provisions

	Maintenance provision £	Latent defect provision £	Total £
At 1 April 2025	215,634	20,000	235,634
Additional provisions	72,209	-	72,209
At 31 March 2026	287,843	20,000	307,843

The maintenance provision is recognised when it is probable that costs will be incurred during the defect liability period.

The latent defect provision is recognised when it is probable that costs will be incurred outside of the defect liability period.

8

Deferred tax

Deferred tax assets and liabilities

2026	Asset £
Fixed asset timing differences	1,809
Short term timing differences	5,000
	6,809