Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312020-12-192falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13091443 2020-12-18 13091443 2020-12-19 2021-12-31 13091443 2020-01-01 2020-12-18 13091443 2021-12-31 13091443 c:Director1 2020-12-19 2021-12-31 13091443 c:Director2 2020-12-19 2021-12-31 13091443 c:RegisteredOffice 2020-12-19 2021-12-31 13091443 d:CurrentFinancialInstruments 2021-12-31 13091443 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 13091443 d:ShareCapital 2021-12-31 13091443 d:RetainedEarningsAccumulatedLosses 2021-12-31 13091443 c:OrdinaryShareClass1 2020-12-19 2021-12-31 13091443 c:OrdinaryShareClass1 2021-12-31 13091443 c:FRS102 2020-12-19 2021-12-31 13091443 c:Audited 2020-12-19 2021-12-31 13091443 c:FullAccounts 2020-12-19 2021-12-31 13091443 c:PrivateLimitedCompanyLtd 2020-12-19 2021-12-31 13091443 c:SmallCompaniesRegimeForAccounts 2020-12-19 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 13091443












SPUSU UK LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021


SPUSU UK LTD

CONTENTS



Page
Company information
 
1
Balance sheet
 
2
Notes to the financial statements
 
3 - 7



SPUSU UK LTD
 
COMPANY INFORMATION


Directors
C T Banhans 
K Katzbauer  




Registered number
13091443



Registered office
27 Old Gloucester Street

London

England

WC1N 3AX




Independent auditor
Blick Rothenberg Audit LLP
Chartered Accountants & Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1

        REGISTERED NUMBER:13091443
SPUSU UK LTD

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
Note
£

  

Current assets
  

Cash at bank and in hand
  
9,694

  
9,694

Creditors: amounts falling due within one year
 4 
(6,000)

Net current assets
  
 
 
3,694

Total assets less current liabilities
  
3,694

  

Net assets
  
3,694


Capital and reserves
  

Called up share capital 
 5 
10,000

Profit and loss account
  
(6,306)

Total equity
  
3,694


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 profit and loss account 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: 




C T Banhans
Director

Date: 14 September 2022

The notes on pages 3 to 7 form part of these financial statements.

Page 2


SPUSU UK LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

1.


General information

Spusu UK Ltd is a private company limited by shares incorporated in England and Wales. The address of its registered office is 27 Old Gloucester Street, London, England, WC1N 3AX.
The financial statements are presented in Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company is reliant on the support of the parent company, and have received a letter confirming its continued support for at least the next twelve months.
The directors have made an assessment of the going concern status of the parent company in determining the appropriateness of the letter of support. In making their assessment they have reviewed the financial statements of the parent company and have determined that the parent company has sufficient headroom to support the UK company.
In July 2022, the company commenced an office rental and has recently employed its first employee. The directors have assessed that the parent company has the resources to meet these costs in the pre-trading phase of the business.
Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 

The company’s policies for its major classes of financial assets and financial liabilities are set out below. 
 
Page 3


SPUSU UK LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)




Financial instruments (continued)

Financial assets
Basic financial assets, including cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
 
Financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
 
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
 
Page 4


SPUSU UK LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)




Financial instruments (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

  
2.4

Functional and presentation currency

The company's functional and presentational currency is Sterling (£).

 
2.5

Cash

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

Page 5


SPUSU UK LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 balance sheet date.

  
2.7

Share capital

Ordinary shares are classified as equity.


3.


Employees




4.


Creditors: Amounts falling due within one year

2021
£

Accruals and deferred income
6,000


Page 6


SPUSU UK LTD
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

5.


Share capital

2021
£
Allotted, called up and fully paid


10,000 Ordinary shares of £1.00 each
10,000


The company was incorporated on 19 December 2020 and on that day issued 10,000 ordinary shares for £1 at par in order to establish the capital structure of the company. 


6.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.


7.


Parent undertaking

The smallest group for which consolidated financial statements are drawn up is headed by Spusu Beteiligungs GmbH whose registered office is DC Tower 1, 38. Stock Donau-City-Straße 7, 1220 Vienna, Austria.


8.


Auditor's information

The auditor's report on the financial statements for the period ended 31 December 2021 was unqualified.

The audit report was signed on 14 September 2022 by Andrew Sanford (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.

 
Page 7