Registration number:
A.E.Spink Limited
for the Year Ended 30 November 2025
A.E.Spink Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
A.E.Spink Limited
Company Information
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Directors |
Mr Nicholas Harrison Mrs Pamela Harrison Mr Christopher Meek Mr Simon Biltcliffe Mr Paul Irwin |
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Company secretary |
Mr Nicholas Harrison |
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Registered office |
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Auditors |
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A.E.Spink Limited
Strategic Report for the Year Ended 30 November 2025
The directors present their strategic report for the year ended 30 November 2025.
Fair review of the business and Key performance indicators
The directors consider the level of activity and the year end financial position to be satisfactory.
2025 saw an increase in the level of operating activity with turnover increasing 9.9% from £65,146,191 to £71,624,113. All areas of the business continued to perform well despite an increase in competitor activity.
Operating margins have remained consistent at 25%.
Non financial KPI's are the number of employees of 179 in 2025 (167 in 2024), this is used to measure growth.
Principal risks and uncertainties
Despite its increase in turnover, confidence in the economy continues to ebb and flow. The directors remain cautiously optimistic and are continuing with expansion plans.
The flexibility of our Company means we are able to make the most of every opportunity.
Section 172 Companies Act 2006
The board of directors consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172(1) Companies Act 2006) in the decisions taken during the year ended 30 November 2025.
A.E Spink Limited are committed to being a responsible business. The core values that underpin our strategy and objectives are to do the right thing, aim high, care about the environment and treat people fairly. This is demonstrated and actively encouraged in dealings with A.E Spink Limited staff, customers, suppliers and stakeholders in the wider community. Internal communications play a key part in keeping the company staff engaged and aligned to the overall strategy; the Managing Directors provides regular updates to employees to ensure that timely and consistent messages are provided to all employees.
As the Board of Directors, our intention is to behave responsibly and ensure that management operate the business in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours and in doing so, will contribute to the delivery of our plan. The intention is to nurture our reputation, through both the construction and delivery of our plan, that reflects our responsible behaviour.
As the Board of Directors, our intention is to behave responsibly toward our stakeholders and treat them fairly and equally, so they too may benefit from the successful delivery of our plan.
These items are given as examples of the Directors’ application of the principles of s172 Companies Act across the year, and is not an exhaustive list.
Approved by the
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A.E.Spink Limited
Directors' Report for the Year Ended 30 November 2025
The directors present their report and the financial statements for the year ended 30 November 2025.
Directors of the company
The directors who held office during the year were as follows:
Mr Nicholas Harrison - Company secretary and director
Mrs Pamela Harrison
Mr Christopher Meek
Mr Simon Biltcliffe
Mr Paul Irwin
Principal activity
The principal activity of the company continued to be that of a builders' and plumbers' merchants.
Information included in the Strategic Report
Detailed information in respect of fair review of the business, KPIs and principal risks and uncertainties can be found in the strategic report and form part of this report by cross-reference.
Employment of disabled persons
Disabled persons are employed by the company when they appear to be suited to a particular vacancy and every effort is made to ensure they are given full and fair consideration when such vacancies arise. Training will be given so that employees, who have been injured or become disabled in the course of their employment, can where possible, continue employment with the company.
Employee involvement
The company undertakes to keep employees abreast of major strategic developments within the company.
A.E.Spink Limited
Directors' Report for the Year Ended 30 November 2025 (continued)
CO2E Emissions Disclosure
A.E. Spink Limited continue to measure scope 1 and 2 emissions in order to calculate the carbon footprint. This includes the following:
- Office, electricity & gas
- Fuel used by the fleet (operational team vehicles)
A.E. Spink Limited use the government published conversion factors to convert energy units into tonnes of carbon dioxide equivalent (C02e) which is a widely recognised indicator of an organisation's performance.
A.E. Spink Limited's target is to achieve a year-on-year reduction of CO2 emissions driving to zero.
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2024/25 |
2023/24 |
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CO2 Produced (Tonnes - T) |
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Office electricity & gas |
97 T |
85 T |
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Fuel used by fleet (operational team vehicles) |
1276 T |
1255 T |
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Total |
1373 T |
1340 T |
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Consumption |
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Office electricity & gas |
555,226 Kwh |
416,375 Kwh |
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Fuel used by fleet (operational team vehicles) |
252,564 Litres |
234,666 Litres |
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Emissions intensity |
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Office electricty & gas |
0 T/Kwh |
0 T/Kwh |
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Fuel used by fleet (operational team vehicles) |
0.005 T/LItres |
0.005 T/Litres |
A.E.Spink Limited
Directors' Report for the Year Ended 30 November 2025 (continued)
Going concern
After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
Directors' liabilities
The company has granted an indemnity to one or more of its directors against liability in respect of proceedings brought by third parties, subject to the conditions set out in section 234 of the Companies Act 2006. Such qualifying third party indemnity provision remains in force as at the date of approving the directors’ report.
Disclosure of information to the auditors
Each director of the company who held office at the date of the approval of this Annual Report as set out above, each confirms that:
• so far as they are aware, there is no relevant audit information (information needed by the company's auditors in connection with preparing their report) of which the company's auditors are unaware, and
• they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Reappointment of auditors
The auditors Hawsons Charted Accountants are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Approved and authorised by the
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......................................... |
A.E.Spink Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
A.E.Spink Limited
Independent Auditor's Report to the Members of A.E.Spink Limited
Opinion
We have audited the financial statements of A.E.Spink Limited (the 'company') for the year ended 30 November 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity, the and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
• | give a true and fair view of the state of the company's affairs as at 30 November 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
A.E.Spink Limited
Independent Auditor's Report to the Members of A.E.Spink Limited (continued)
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors’ remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 6, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
A.E.Spink Limited
Independent Auditor's Report to the Members of A.E.Spink Limited (continued)
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The company is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the company and the environment it operates within, we determined that the laws and regulations which were most significant included FRS 102, Companies Act 2006 and Health and Safety regulations. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate journal entries to improve the company’s result for the period, and management bias in key accounting estimates.
Audit procedures performed by the engagement team included:
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Discussions with management and those responsible for legal compliance procedures within the company to obtain an understanding of the legal and regulatory framework applicable to the company and how the company complies with that framework, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud; |
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Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud and non-compliance with laws and regulations; |
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Challenging assumptions and judgements made by management in their significant accounting estimates, in particular in relation to bad debts; |
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Identifying and testing journal entries, in particular, journal entries posted with unusual account combinations or posted by senior management. |
There are inherent limitations in the audit procedures described above and the more removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
A.E.Spink Limited
Independent Auditor's Report to the Members of A.E.Spink Limited (continued)
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
5 Sidings Court
White Rose Way
South Yorkshire
DN4 5NU
A.E.Spink Limited
Statement of Comprehensive Income for the Year Ended 30 November 2025
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Note |
2025 |
2024 |
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Turnover |
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65,146,191 |
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Cost of sales |
( |
(48,922,329) |
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Gross profit |
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16,223,862 |
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Administrative expenses |
( |
(12,901,124) |
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Other operating income |
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14,220 |
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Operating profit |
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3,336,958 |
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Other interest receivable and similar income |
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387,481 |
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Interest payable and similar charges |
( |
(83,098) |
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Profit before tax |
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3,641,341 |
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Taxation |
( |
(990,924) |
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Profit for the financial year |
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2,650,417 |
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Total comprehensive income for the year |
3,449,545 |
2,650,417 |
A.E.Spink Limited
(Registration number: 00214637)
Balance Sheet as at 30 November 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Capital redemption reserve |
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Retained earnings |
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Shareholders' funds |
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These financial statements were approved and authorised for issue by the
.........................................
Mr Nicholas Harrison
Company secretary and director
A.E.Spink Limited
Statement of Changes in Equity for the Year Ended 30 November 2025
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Share capital |
Share premium |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 December 2024 |
12,950 |
400 |
13,650 |
24,212,094 |
24,239,094 |
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Profit for the year |
- |
- |
- |
3,449,545 |
3,449,545 |
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Total comprehensive income |
- |
- |
- |
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At 30 November 2025 |
12,950 |
400 |
13,650 |
27,661,639 |
27,688,639 |
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Share capital |
Share premium |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 December 2023 (As restated) |
12,950 |
400 |
13,650 |
21,561,677 |
21,588,677 |
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Profit for the year |
- |
- |
- |
2,650,417 |
2,650,417 |
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Total comprehensive income |
- |
- |
- |
2,650,417 |
2,650,417 |
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At 30 November 2024 (As restated) |
12,950 |
400 |
13,650 |
24,212,094 |
24,239,094 |
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025
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Accounting policies |
A.E.Spink Limited is a private company, limited by shares, domiciled in England and Wales, company number 00214637. The registered office is at
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that, as disclosed in the accounting policies, certain items are shown at fair value.
Group accounts have not been prepared as the company's subsidiary is permitted to be excluded from group accounts by virtue of sections 402 and 405 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.
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.
Summary of disclosure exemptions
The company is a qualifying entity for the purposes of Financial Reporting Standard 102 and therefore has taken the advantage of the disclosure exemption available in Financial Reporting Standard 102 not to produce a cash flow statemen...
Going concern
After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
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1 |
Accounting policies (continued) |
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Tax
The tax expense for the period comprises current and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from the profit as reported in the statement of comprehensive income because of items of income or expense that are deductible in other years and items that are never taxable or deductible.
The current income 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 tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Unrelieved tax losses and other deferred tax assets shall be 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.
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:
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
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1 |
Accounting policies (continued) |
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Asset class |
Depreciation method and rate |
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Freehold buildings |
2% straight line |
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Plant, machinery and vehicles |
15% reducing balance |
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Motor vehicles |
25% reducing balance |
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Office equipment |
15% reducing balance |
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Computer equipment |
30% reducing balance |
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.
Leases
Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
The Company operates a defined contribution pension scheme. Contributions to defined contribution plans are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
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1 |
Accounting policies (continued) |
Financial instruments
Classification
Recognition and measurement
Impairment
Rebates
Rebates receivable on purchases and paid on sales are recognised at the point at which the target has been reached and the rebate becomes unconditional.
Stocks
Stock is valued at the lower of average cost (including allowance for any rebates receivable) and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Investments
Fixed asset investments are stated at historical cost less provision for any diminution in value.
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Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
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2025 |
2024 |
|
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Sale of goods |
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The turnover was all achieved in the United Kingdom as was all derived from the company's principal activity.
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
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Other operating income |
The analysis of the company's other operating income for the year is as follows:
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2025 |
2024 |
|
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Rents |
57,046 |
14,220 |
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Operating profit |
Arrived at after charging/(crediting)
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2025 |
2024 |
|
|
Depreciation expense |
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|
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Loss on disposal of property, plant and equipment |
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|
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Other interest receivable and similar income |
|
2025 |
2024 |
|
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Interest income on bank deposits |
264,215 |
387,481 |
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Interest payable and similar expenses |
|
2025 |
2024 |
|
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Interest on preference shares |
|
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Interest expense on other finance liabilities |
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|
|
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
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2025 |
2024 |
|
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Wages and salaries |
7,301,495 |
6,663,700 |
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Social security costs |
909,618 |
909,073 |
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Pension costs, defined contribution scheme |
308,055 |
346,966 |
|
8,519,168 |
7,919,739 |
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
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7 |
Staff costs (continued) |
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
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2025 |
2024 |
|
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Administration and support |
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Distribution and sales |
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Directors' remuneration |
The directors' remuneration for the year was as follows:
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2025 |
2024 |
|
|
Remuneration |
1,166,330 |
1,230,523 |
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Contributions paid to money purchase schemes |
25,572 |
56,418 |
|
1,191,902 |
1,286,941 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
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2025 |
2024 |
|
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Accruing benefits under money purchase pension scheme |
|
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In respect of the highest paid director:
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2025 |
2024 |
|
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Remuneration |
435,712 |
259,604 |
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Auditors' remuneration |
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2025 |
2024 |
|
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Non-audit services - accountancy and payroll |
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|
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Auditors remuneration |
30,500 |
30,000 |
|
45,955 |
66,615 |
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
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Prior year adjustment |
|
|
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Creditors (under 1 year) |
Creditors (after 1 year) |
Profit and loss account |
||||
|
£ |
£ |
£ |
||||
|
At 1 December 2023 |
10,669,094 |
- |
24,079,700 |
|||
|
Prior period adjustment |
(75,713) |
(2,442,310) |
(2,518,023) |
|||
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At 1 December 2023 ( As restated) |
10,593,381 |
(2,442,310) |
21,561,677 |
|||
|
Creditors (under 1 year) |
Creditors (after 1 year) |
Profit and loss account |
||||
|
£ |
£ |
£ |
||||
|
At 1 December 2024 |
(11,184,797) |
(203,870) |
26,732,312 |
|||
|
Prior period adjustment (2023) |
(75,713) |
(2,442,310) |
(2,518,023) |
|||
|
Prior period adjustment (2024) |
(2,195) |
- |
(2,195) |
|||
|
At 30 November 2024 ( As restated) |
(11,262,705) |
(2,646,180) |
24,212,094 |
|||
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
|
Taxation |
Tax charged/(credited) in the income statement
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
947,277 |
1,027,752 |
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
59,894 |
(36,828) |
|
Tax expense in the income statement |
1,007,171 |
990,924 |
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax (decrease)/increase from effect of capital allowances and depreciation |
( |
|
|
Tax increase/(decrease) from other short-term timing differences |
|
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Decrease in tax arising from relief for preference share interest paid |
( |
- |
|
Tax (decrease)/increase from other tax effects |
( |
|
|
Total tax charge |
|
|
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
|
Tangible assets |
|
Land and buildings |
Plant, equipment and vehicles |
Total |
|
|
Cost |
|||
|
At 1 December 2024 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
- |
( |
( |
|
At 30 November 2025 |
|
|
|
|
Depreciation |
|||
|
At 1 December 2024 |
|
|
|
|
Charge for the year |
|
|
|
|
Eliminated on disposal |
- |
( |
( |
|
At 30 November 2025 |
|
|
|
|
Carrying amount |
|||
|
At 30 November 2025 |
|
|
|
|
At 30 November 2024 |
|
|
|
Included within the net book value of land and buildings above is £4,853,704 (2024 - £4,630,500) in respect of freehold land and buildings. Freehold land and buildings includes £2,086,276 (2024 - £2,086,276) relating to freehold land not depreciated.
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2025 |
2024 |
|
|
Plant and machinery |
284,615 |
316,374 |
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
|
Investments |
|
2025 |
2024 |
|
|
Other investments |
|
|
|
£ |
|
|
Cost |
|
|
At 1 December 2024 |
|
|
Disposals |
( |
|
At 30 November 2025 |
|
|
Carrying amount |
|
|
At 30 November 2025 |
|
|
At 30 November 2024 |
|
Details of undertakings
Details of the investments, included within the above, in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Country of incorporation |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
England |
Ordinary |
|
|
|
Subsidiary undertakings |
|
Leslie Mann (Bricks & Blocks) Limited The principal activity of Leslie Mann (Bricks & Blocks) Limited is |
The company was dissolved on 11 November 2025.
Other investments
Included within the above, is a £50,000.00 investment into H&B Commercial Projects Limited, in which the company holds 1.5% of the share capital.
|
Stocks |
|
2025 |
2024 |
|
|
Other inventories |
9,359,749 |
8,768,641 |
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
|
Debtors |
|
2025 |
2024 |
|
|
Trade debtors |
|
|
|
Amounts owed by group undertakings |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
|
|
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
8,411,803 |
8,005,893 |
|
Creditors |
|
2025 |
2024 |
|
|
Due within one year |
||
|
Loans and borrowings |
175,834 |
156,845 |
|
Trade creditors |
8,445,974 |
7,908,559 |
|
Social security and other taxes |
1,072,029 |
939,134 |
|
Other payables |
1,735,024 |
689,485 |
|
Accruals |
94,581 |
969,539 |
|
Corporation tax liability |
298,668 |
599,143 |
|
11,822,110 |
11,262,705 |
|
|
Due after one year |
||
|
Loans and borrowings |
2,596,796 |
2,646,180 |
|
Loans and borrowings |
|
2025 |
2024 |
|
|
Non-current loans and borrowings |
||
|
Hire purchase contracts |
154,486 |
203,870 |
|
Non-redeemable preference shares |
2,442,310 |
2,442,310 |
|
2,596,796 |
2,646,180 |
|
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
|
18 |
Loans and borrowings (continued) |
|
2025 |
2024 |
|
|
Current loans and borrowings |
||
|
Hire purchase contracts |
95,666 |
78,937 |
|
Non-redeemable preference shares |
80,168 |
77,908 |
|
175,834 |
156,845 |
|
Hire purchase contracts are secured against the assets to which they relate.
Creditors include £2,522,478 relating to the cumulative dividends arising from 3107 preference shares of £1 each. These shares carry a mandatory annual dividend linked to the Consumer Price Index. As the company has an unavoidable contractual obligation to settle these cash flows, the instrument is classed as a financial liability at the present value of the future contracted cash flows, discounted at a market rate of interest for a similar liability that does not have the associated equity component. The interest element has been calculated using the effective interest rate method and charged to profit and loss for the year.
|
Provisions for liabilities |
|
Deferred tax |
|
|
At 1 December 2024 |
|
|
Increase in existing provisions |
|
|
At 30 November 2025 |
|
|
|
|
The deferred provision is in repect of accelerated capital allowances.
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £47,609 (2024: £41,372) were payable to the scheme at the end of the year and are included in creditors.
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
9,843 |
|
9,843 |
|
|
|
3,107 |
|
3,107 |
|
|
|
|
|
|
Rights, preferences and restrictions
|
Ordinary £1 shares have the following rights, preferences and restrictions: |
|
Preference £1 shares have the following rights, preferences and restrictions: |
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
A.E.Spink Limited
Notes to the Financial Statements for the Year Ended 30 November 2025 (continued)
|
Related party transactions |
Mr C Meek has sales ledger balances owing £106,474 to the company at the year-end (2024: £nil). These transactions occured under normal trading prices, but at favourable payment terms.
No interest is charged in respect of these balances.
Mr S Biltcliffe has a loan from the company, owing £2,000 at the year-end (2024: £2,000). There are no terms or interest attached to this loan.
Mr C Meek has a loan from the company, owing £65,000 at the year-end (2024: £140,000). There are no terms or interest attached to this loan.
The company is renting premises from the directors' pension fund at £73,500 per annum (2024: £73,500).
The company is a member of PHG and H&B Buying Groups.
21 Parent undertaking and ultimate controlling party
The company's parent undertaking is A.E.Spink (Holdings) Limited which owns 100% of the issued share capital in the company.
The company is included in audited consolidated accounts for a larger group which are drawn up by A.E.Spink (Holdings) Limited. The accounts are available from the parent company's registered office address at Kelham Street, Doncaster, South Yorkshire, DN1 3RA.
There is no ultimate controlling part as no one individual has overall control in A.E.Spink (Holdings) Limited.