Caseware UK (AP4) 2021.0.152 2021.0.152 2021-10-312021-10-31true2020-11-01falsetrueNo description of principal activity22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02474257 2020-11-01 2021-10-31 02474257 2019-11-01 2020-10-31 02474257 2021-10-31 02474257 2020-10-31 02474257 c:Director1 2020-11-01 2021-10-31 02474257 d:Buildings 2020-11-01 2021-10-31 02474257 d:Buildings 2021-10-31 02474257 d:Buildings 2020-10-31 02474257 d:Buildings d:OwnedOrFreeholdAssets 2020-11-01 2021-10-31 02474257 d:Buildings d:LongLeaseholdAssets 2020-11-01 2021-10-31 02474257 d:PlantMachinery 2020-11-01 2021-10-31 02474257 d:MotorVehicles 2020-11-01 2021-10-31 02474257 d:FurnitureFittings 2020-11-01 2021-10-31 02474257 d:OfficeEquipment 2020-11-01 2021-10-31 02474257 d:OtherPropertyPlantEquipment 2020-11-01 2021-10-31 02474257 d:OtherPropertyPlantEquipment 2021-10-31 02474257 d:OtherPropertyPlantEquipment 2020-10-31 02474257 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2020-11-01 2021-10-31 02474257 d:OwnedOrFreeholdAssets 2020-11-01 2021-10-31 02474257 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-10-31 02474257 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2020-10-31 02474257 d:CurrentFinancialInstruments 2021-10-31 02474257 d:CurrentFinancialInstruments 2020-10-31 02474257 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 02474257 d:CurrentFinancialInstruments d:WithinOneYear 2020-10-31 02474257 d:ShareCapital 2021-10-31 02474257 d:ShareCapital 2020-10-31 02474257 d:RetainedEarningsAccumulatedLosses 2021-10-31 02474257 d:RetainedEarningsAccumulatedLosses 2020-10-31 02474257 c:FRS102 2020-11-01 2021-10-31 02474257 c:AuditExempt-NoAccountantsReport 2020-11-01 2021-10-31 02474257 c:FullAccounts 2020-11-01 2021-10-31 02474257 c:PrivateLimitedCompanyLtd 2020-11-01 2021-10-31 02474257 2 2020-11-01 2021-10-31 02474257 6 2020-11-01 2021-10-31 iso4217:GBP xbrli:pure

Registered number: 02474257










D.W. SPINKS (EMBOSSING) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

 
D.W. SPINKS (EMBOSSING) LIMITED
REGISTERED NUMBER: 02474257

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2021

2021
2020
                                                                   Note
£
£

Fixed assets
  

Tangible assets
 5 
41,333
29,389

Investments
 6 
50,000
50,000

  
91,333
79,389

Current assets
  

Debtors: amounts falling due within one year
 7 
172,926
161,406

Current asset investments
 8 
-
1,200

Cash at bank and in hand
 9 
1,083,254
1,203,393

  
1,256,180
1,365,999

Creditors: amounts falling due within one year
 10 
(408,351)
(485,379)

Net current assets
  
 
 
847,829
 
 
880,620

Total assets less current liabilities
  
939,162
960,009

Provisions for liabilities
  

Deferred tax
  
(5,399)
(5,399)

  
 
 
(5,399)
 
 
(5,399)

Net assets
  
933,763
954,610


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
933,663
954,510

  
933,763
954,610


Page 1

 
D.W. SPINKS (EMBOSSING) LIMITED
REGISTERED NUMBER: 02474257
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
G.D. Spinks
Director

Date: 26 July 2022

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
D.W. SPINKS (EMBOSSING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

1.


General information

D. W. Spinks (Embossing) Limited is a private company, limited by shares, registered in England and
Wales. The registered office is 10 Queen Street Place, London EC4R 1AG and its company registration number is 02474257.
The functional and presentational currency is GBP (£). 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
D.W. SPINKS (EMBOSSING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

L/hold Property Improvements
-
25%
reducing balance
Plant & machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are
recognised when paid. Final equity dividends are recognised when approved by the shareholders at
an annual general meeting.

Page 4

 
D.W. SPINKS (EMBOSSING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

2.Accounting policies (continued)

 
2.11

Operating leases: the Company as lessee

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

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.14

Pensions

Defined benefit pension plan

The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

The liability recognised in the Statement of financial position in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the reporting date less the fair value of plan assets at the reporting date (if any) out of which the obligations are to be settled.

The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').

The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.

The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:

a) the increase in net pension benefit liability arising from employee service during the period; and

b) the cost of plan introductions, benefit changes, curtailments and settlements.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.

Page 5

 
D.W. SPINKS (EMBOSSING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

2.Accounting policies (continued)

 
2.15

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.16

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

Page 6

 
D.W. SPINKS (EMBOSSING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

4.


Intangible assets




Development

£



Cost


At 1 November 2020
117,388



At 31 October 2021

117,388



Amortisation


At 1 November 2020
117,388



At 31 October 2021

117,388



Net book value



At 31 October 2021
-



At 31 October 2020
-



Page 7

 
D.W. SPINKS (EMBOSSING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

5.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 November 2020
22,757
163,987
186,744


Additions
-
19,640
19,640



At 31 October 2021

22,757
183,627
206,384



Depreciation


At 1 November 2020
21,726
135,629
157,355


Charge for the year on owned assets
258
7,438
7,696



At 31 October 2021

21,984
143,067
165,051



Net book value



At 31 October 2021
773
40,560
41,333



At 31 October 2020
1,031
28,358
29,389


6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 November 2020
50,000



At 31 October 2021
50,000




Page 8

 
D.W. SPINKS (EMBOSSING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

7.


Debtors

2021
2020
£
£


Trade debtors
11,840
27,408

Amounts owed from connected companies
149,459
132,154

Other debtors
11,082
1,844

Prepayments and accrued income
545
-

172,926
161,406



8.


Current asset investments

2021
2020
£
£

Listed investments
-
1,200

-
1,200



9.


Cash

2021
2020
£
£

Cash at bank and in hand
1,083,254
1,203,393

1,083,254
1,203,393


Page 9

 
D.W. SPINKS (EMBOSSING) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

10.


Creditors: Amounts falling due within one year

2021
2020
£
£

Other loans
-
25,240

Trade creditors
4,556
7,252

Amounts owed to group undertakings
98,582
-

Corporation tax
-
83,987

Other taxation and social security
47
5,938

Other creditors
304,816
354,683

Accruals and deferred income
350
8,279

408,351
485,379



11.


Related party transactions

At the year end, the Company owed G Spinks, the director of the Company, £304,559 (2020: £354,428). The loan is interest free and repayable on demand.
At the year end, the Company was due £149,459 (2020: £127,459) from D.W. Spinks & Company Limited and £98,582 (2020: £4,695 due from) was due to Security Fibres UK Limited. G Spinks is a director of both these companies. These loans are interest free and repayable on demand.


12.


Controlling party

The ultimate controlling party of the Company is D.W. Spinks (Holdings) Limited.

 
Page 10