S & P Comber Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01408762

S & P COMBER LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

S & P COMBER LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		1,325,031	1,355,175

Current assets

Stocks		15,000	15,000
Debtors	6	505,254	796,307
Cash at bank and in hand		844,402	374,196
		-------------	-------------
		1,364,656	1,185,503

Creditors: amounts falling due within one year	7	639,693		589,779
		-------------		-------------
Net current assets			724,963	595,724
			-------------	-------------
Total assets less current liabilities			2,049,994	1,950,899

Creditors: amounts falling due after more than one year	8		–	72,165

Provisions

Taxation including deferred tax	261,687	268,067
	-------------	-------------
Net assets	1,788,307	1,610,667
	-------------	-------------

Capital and reserves

Called up share capital		20,002	20,002
Profit and loss account	9	1,768,305	1,590,665
		-------------	-------------
Shareholders funds		1,788,307	1,610,667
		-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

S & P COMBER LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 26 November 2025 , and are signed on behalf of the board by:

Mrs P.J. Comber	Mr J.R. Comber
Director	Director

Mr R.S. Comber
Director

Company registration number: 01408762

S & P COMBER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The trading address of the company is S & P Comber Limited, Top Road, Sharpthorne, East Grinstead, West Sussex RH19 4NS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

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.

Going concern

The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis, and emphasis is placed on the on-going and new contracts in place since the year end.

The directors consider that the uncertainty caused in the construction industry as a result of Coronavirus and recovery from the restrictions put in place by the government should not materially affect the company's ability to continue as a going concern.

This assumption has been continued as the economy is hit by the cost of living crisis, and world economic impact of the war in Ukraine.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant & machinery	-	15% reducing balance
Fixtures, fittings & equipment	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

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.

Finance leases 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.

Provisions

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

Defined contribution plans

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 25 (2024: 30 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2024	1,100,000	230,105	15,424	471,595	1,817,124
Additions	–	20,283	3,184	11,950	35,417
Disposals	–	( 23,378)	( 750)	( 22,930)	( 47,058)
	-------------	----------	---------	----------	-------------
At 31 March 2025	1,100,000	227,010	17,858	460,615	1,805,483
	-------------	----------	---------	----------	-------------
Depreciation
At 1 April 2024	–	126,140	7,574	328,235	461,949
Charge for the year	–	16,445	1,248	38,140	55,833
Disposals	–	( 16,725)	( 425)	( 20,180)	( 37,330)
	-------------	----------	---------	----------	-------------
At 31 March 2025	–	125,860	8,397	346,195	480,452
	-------------	----------	---------	----------	-------------
Carrying amount
At 31 March 2025	1,100,000	101,150	9,461	114,420	1,325,031
	-------------	----------	---------	----------	-------------
At 31 March 2024	1,100,000	103,965	7,850	143,360	1,355,175
	-------------	----------	---------	----------	-------------

On 31 March 2017 the freehold property was revalued by the director on an open market basis to comply with FRS 102 Section 16. This value was carried back to the FRS 102 transition date 1 April 2015, and the comparatives were re-stated. This valuation is still considered appropriate at 31 March 2025.

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 March 2025	59,457
	---------
At 31 March 2024	79,276
	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	272,435	410,014
Other debtors	232,819	386,293
	----------	----------
	505,254	796,307
	----------	----------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	30,000
Trade creditors	249,762	249,416
Corporation tax	97,064	27,249
Social security and other taxes	95,392	118,469
Other creditors	197,475	164,645
	----------	----------
	639,693	589,779
	----------	----------

The bank overdraft limit of £150,000 is secured with a charge over a freehold property held by the company.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	62,515
Other creditors	–	9,650
	----	---------
	–	72,165
	----	---------

9. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses (distributable), together with investment property re-valuations and associated deferred tax (non-distributable). At 31 March 2025 the profit and loss account balance of £1,768,305 (2024:£1,590,665) represents distributable reserves of £848,980(2024:£671,340),and non-distributable reserves of £919,325 (2024:£919,325).

10. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs P.J. Comber	( 28,000)	24,000	( 4,000)
Mr J.R. Comber	( 29,965)	20,000	( 9,965)
Mr R.S. Comber	1,500	–	1,500
	---------	---------	---------
	( 56,465)	44,000	( 12,465)
	---------	---------	---------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs P.J. Comber	–	( 28,000)	( 28,000)
Mr J.R. Comber	( 29,965)	–	( 29,965)
Mr R.S. Comber	1,500	–	1,500
	---------	---------	---------
	( 28,465)	( 28,000)	( 56,465)
	---------	---------	---------

.

11. Related party transactions

The company was under the control of Mrs P J Comber, as majority shareholder, throughout the current and previous year. Throughout the current and previous year, Mr J R Comber was the managing director.