REGISTERED NUMBER: 01419291 (England and Wales)

SPAFAX INTERNATIONAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A M Burnell

Mrs G M Strong

N L C Strong

O T J Strong

N D Gada

SECRETARY:

A M Burnell

REGISTERED OFFICE:

1 Newton Court

Rankine Road

Basingstoke

Hampshire

RG24 8GF

REGISTERED NUMBER:

01419291 (England and Wales)

FIXED ASSETS

Intangible assets

4

5,710

8,081

Tangible assets

5

105,291

78,273

111,001

86,354

CURRENT ASSETS

Stocks

450,314

387,855

Debtors

6

1,060,936

1,002,300

Cash at bank and in hand

643,981

538,392

2,155,231

1,928,547

CREDITORS

Amounts falling due within one year

7

(421,717

)

(301,354

)

NET CURRENT ASSETS

1,733,514

1,627,193

TOTAL ASSETS LESS CURRENT LIABILITIES

1,844,515

1,713,547

CREDITORS

Amounts falling due after more than one year

8

-

(27,500

)

PROVISIONS FOR LIABILITIES

(22,532

)

(20,058

)

NET ASSETS

1,821,983

1,665,989

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Retained earnings

1,721,983

1,565,989

1,821,983

1,665,989

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by:

A M Burnell - Director

N L C Strong - Director

1.	STATUTORY INFORMATION

Spafax International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, unless otherwise specified within these accounting policies. The principal accounting policies adopted are set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life on a straight line basis at 7.5%

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings - 10% Straight line

Computer equipment - 33% Straight line

Plant and machinery - 7.5% Straight line

Leasehold improvements - 20% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in profit or loss.

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock is valued on an average cost basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences 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 tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial assets

The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Patents and

licences

£

COST

At 1 April 2024

and 31 March 2025

100,768

AMORTISATION

At 1 April 2024

92,687

Amortisation for year

2,371

At 31 March 2025

95,058

NET BOOK VALUE

At 31 March 2025

5,710

At 31 March 2024

8,081

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

-

337,404

36,901

16,378

390,683

Additions

5,310

7,797

33,600

6,242

52,949

Disposals

-

-

(17,324

)

-

(17,324

)

At 31 March 2025

5,310

345,201

53,177

22,620

426,308

DEPRECIATION

At 1 April 2024

-

274,793

29,056

8,561

312,410

Charge for year

354

13,719

5,301

6,557

25,931

Eliminated on disposal

-

-

(17,324

)

-

(17,324

)

At 31 March 2025

354

288,512

17,033

15,118

321,017

NET BOOK VALUE

At 31 March 2025

4,956

56,689

36,144

7,502

105,291

At 31 March 2024

-

62,611

7,845

7,817

78,273

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

388,621

245,812

Amounts owed by group undertakings

609,349

709,251

Other debtors

62,966

47,237

1,060,936

1,002,300

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

22,000

Trade creditors

200,123

146,973

Taxation and social security

101,429

75,868

Other creditors

120,165

56,513

421,717

301,354

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

27,500

9.	LEASING AGREEMENTS

At the balance sheet date the company had future operating leases which totalled £360,221 (2024 - £58,493)