REGISTERED NUMBER: 04150975 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

SPICER CONSULTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J N Sackett

Dr A P Spicer

S J Spicer

M A Zaremba

SECRETARY:

Mrs C E Spicer

REGISTERED OFFICE:

Eden Laboratory

Broadmead Road

Stewartby

Bedford

Bedfordshire

MK43 9ND

REGISTERED NUMBER:

04150975 (England and Wales)

ACCOUNTANTS:

Darrington & Co Limited

71 High Street

Gt Barford

Bedford

Bedfordshire

MK44 3LF

FIXED ASSETS

Tangible assets

4

2,725,151

2,669,280

CURRENT ASSETS

Stocks

1,917,083

1,949,371

Debtors

5

7,433,780

6,653,243

Cash at bank and in hand

3,397,601

643,041

12,748,464

9,245,655

CREDITORS

Amounts falling due within one year

6

2,323,007

1,093,036

NET CURRENT ASSETS

10,425,457

8,152,619

TOTAL ASSETS LESS CURRENT LIABILITIES

13,150,608

10,821,899

CREDITORS

Amounts falling due after more than one year

7

-

(799,646

)

PROVISIONS FOR LIABILITIES

(217,915

)

(196,658

)

NET ASSETS

12,932,693

9,825,595

CAPITAL AND RESERVES

Called up share capital

2,128

2,128

Revaluation reserve

9

323,186

323,186

Retained earnings

12,607,379

9,500,281

SHAREHOLDERS' FUNDS

12,932,693

9,825,595

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2025 and were signed on its behalf by:

S J Spicer - Director

J N Sackett - Director

1.	STATUTORY INFORMATION

Spicer Consulting 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales and work done, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

33% on cost, 25% on cost, 25% on reducing balance, at varying rates on cost and at variable rates on reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2024 - 50 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

2,090,000

1,180,831

3,270,831

Additions

-

236,645

236,645

Disposals

-

(6,515

)

(6,515

)

At 31 March 2025

2,090,000

1,410,961

3,500,961

DEPRECIATION

At 1 April 2024

4,876

596,675

601,551

Charge for year

19,504

161,270

180,774

Eliminated on disposal

-

(6,515

)

(6,515

)

At 31 March 2025

24,380

751,430

775,810

NET BOOK VALUE

At 31 March 2025

2,065,620

659,531

2,725,151

At 31 March 2024

2,085,124

584,156

2,669,280

Cost or valuation at 31 March 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2008

308,896

-

308,896

Valuation in 2013

14,290

-

14,290

Valuation in 2023

(77,516

)

-

(77,516

)

Cost

1,844,330

1,410,961

3,255,291

2,090,000

1,410,961

3,500,961

If the freehold property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

1,844,330

1,844,330

Freehold property was valued on an open market basis on 14 December 2023 by Underwoods LLP Chartered Surveyors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

96,124

165,435

261,559

DEPRECIATION

At 1 April 2024

1,202

55,746

56,948

Charge for year

4,806

11,400

16,206

At 31 March 2025

6,008

67,146

73,154

NET BOOK VALUE

At 31 March 2025

90,116

98,289

188,405

At 31 March 2024

94,922

109,689

204,611

5.

DEBTORS

31.3.25

31.3.24

£

£

Amounts falling due within one year:

Trade debtors

1,670,220

1,335,539

Other debtors

288,560

1,282,704

1,958,780

2,618,243

31.3.25

31.3.24

£

£

Amounts falling due after more than one year:

Other debtors

5,475,000

4,035,000

Aggregate amounts

7,433,780

6,653,243

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

-

67,500

Hire purchase contracts

42,531

45,595

Trade creditors

331,312

148,458

Taxation and social security

1,143,635

168,948

Other creditors

805,529

662,535

2,323,007

1,093,036

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

-

719,628

Hire purchase contracts

-

80,018

-

799,646

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

719,628

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

-

787,128

Hire purchase contracts

42,531

125,613

42,531

912,741

The bank loan is secured by a fixed charge on Unit 20, Broadmead Road, Stewartby, Bedford and by a fixed and floating charge over the company assets.

Hire purchase contracts are secured on specific fixed assets financed.

9.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

323,186

10.	RELATED PARTY DISCLOSURES

During the year Pope & Meads Limited, a company in which most of the directors are also directors and shareholders, provided necessary transactions charging on an arms length basis. The total amount charged in the year was £77,772 (2024: £280,245) of which £37,148 (2024: £Nil) was outstanding at the balance sheet date.The company also provided necessary transactions to Pope & Meads Limited of £11,942 (2024: £10,900) of which £11,942 (2024: £Nil) was outstanding at the balance sheet date.

The company has made various loans to Pope & Meads Limited with an amount outstanding at the balance sheet date of £660,000 (2024: £740,000). It is anticipated the loan will be fully repaid over a ten year period. Interest of £13,288 (2024: £21,680) was received on this loan.

During the year Abbey Precision Limited, a company in which most of the directors are also directors and shareholders, provided necessary transactions charging on an arms length basis. The total amount charged in the year was £60,128 (2024: £1,577) of which £Nil (2024: £Nil) was outstanding at the balance sheet date.The company also provided necessary transactions to Abbey Precision Limited of £484 (2024: £Nil) of which £Nil (2024: £Nil) was outstanding at the balance sheet date.

The company has made various loans to Abbey Precision Limited with an amount outstanding at the balance sheet date of £2,000,000 (2024 : £1,125,000). It is anticipated the loan will be fully repaid over a ten year period. Interest of £34,565 (2024: £22,778) was received on this loan.

During the year Algenuity Limited, a company in which most of the directors are also directors and shareholders, charged sales commission on an arms length basis. The total amount charged in the year was £25,518 (2024: £73,042) of which £3,904 (2024: £Nil) was outstanding at the balance sheet date.

During the year the company also provided Algenuity Limited, necessary transactions charging on an arms length basis. The total amount charged in the year was £49,311 (2024: £54,052) of which £63,821 (2024: £58,901) was outstanding at the balance sheet date.

The company has made various loans to Algenuity Limited with an amount outstanding at the balance sheet date of £3,555,000 (2024 : £2,500,000). It is anticipated the loan will be fully repaid over a ten year period. Interest of £Nil (2024: £10,652) was received on this loan.

During the year the company made a loan of £30,150 to Spicer Holdings Limited. It is not anticipated that any repayment will be made within the foreseeable future. Interest of £Nil was received on this loan.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Spicer Holdings Limited.

The company is a wholly owned subsidiary of Spicer Holdings Limited, a company registered in England and Wales.