IRIS Accounts Production v23.3.0.418 10045569 Board of Directors 1.4.22 31.3.23 31.3.23 10/10/2023 true false true false false false true false Auditors Opinion Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure100455692022-03-31100455692023-03-31100455692022-04-012023-03-31100455692021-03-31100455692021-04-012022-03-31100455692022-03-3110045569ns16:EnglandWales2022-04-012023-03-3110045569ns15:PoundSterling2022-04-012023-03-3110045569ns11:Director12022-04-012023-03-3110045569ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3110045569ns11:SmallEntities2022-04-012023-03-3110045569ns11:Audited2022-04-012023-03-3110045569ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3110045569ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3110045569ns11:FullAccounts2022-04-012023-03-311004556912022-04-012023-03-3110045569ns11:OrdinaryShareClass12022-04-012023-03-3110045569ns11:OrdinaryShareClass22022-04-012023-03-3110045569ns11:Director22022-04-012023-03-3110045569ns11:Director32022-04-012023-03-3110045569ns11:RegisteredOffice2022-04-012023-03-3110045569ns6:CurrentFinancialInstruments2023-03-3110045569ns6:CurrentFinancialInstruments2022-03-3110045569ns6:ShareCapital2023-03-3110045569ns6:ShareCapital2022-03-3110045569ns6:RetainedEarningsAccumulatedLosses2023-03-3110045569ns6:RetainedEarningsAccumulatedLosses2022-03-3110045569ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3110045569ns6:ComputerSoftware2022-04-012023-03-3110045569ns6:ComputerSoftware2023-03-3110045569ns6:LeaseholdImprovements2022-03-3110045569ns6:FurnitureFittings2022-03-3110045569ns6:ComputerEquipment2022-03-3110045569ns6:LeaseholdImprovements2022-04-012023-03-3110045569ns6:FurnitureFittings2022-04-012023-03-3110045569ns6:ComputerEquipment2022-04-012023-03-3110045569ns6:LeaseholdImprovements2023-03-3110045569ns6:FurnitureFittings2023-03-3110045569ns6:ComputerEquipment2023-03-3110045569ns6:LeaseholdImprovements2022-03-3110045569ns6:FurnitureFittings2022-03-3110045569ns6:ComputerEquipment2022-03-3110045569ns6:AdditionsToInvestments2023-03-3110045569ns6:CostValuation2023-03-3110045569ns6:Subsidiary12022-04-012023-03-31100455691ns6:Subsidiary12022-04-012023-03-3110045569ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3110045569ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3110045569ns6:WithinOneYear2023-03-3110045569ns6:WithinOneYear2022-03-3110045569ns6:BetweenOneFiveYears2023-03-3110045569ns6:BetweenOneFiveYears2022-03-3110045569ns6:AllPeriods2023-03-3110045569ns6:AllPeriods2022-03-3110045569ns11:OrdinaryShareClass12023-03-3110045569ns11:OrdinaryShareClass22023-03-3110045569ns6:RetainedEarningsAccumulatedLosses2022-03-3110045569ns6:RetainedEarningsAccumulatedLosses2022-04-012023-03-31100455692ns11:Director22022-03-31100455692ns11:Director22021-03-31100455692ns11:Director22022-04-012023-03-31100455692ns11:Director22021-04-012022-03-31100455692ns11:Director22023-03-31100455692ns11:Director22022-03-31
REGISTERED NUMBER: 10045569 (England and Wales)















Sprints Capital Management Limited

Audited Financial Statements

for the Year Ended 31 March 2023






Sprints Capital Management Limited (Registered number: 10045569)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Sprints Capital Management Limited

Company Information
for the year ended 31 March 2023







Directors: P H Persson
M D Harrison
P R Siri





Registered office: 17 Duke Of York Street
London
SW1Y 6LB





Registered number: 10045569 (England and Wales)





Independent auditors: Kreston Reeves LLP
Chartered Accountants and Statutory Auditor
2nd Floor
168 Shoreditch High Street
London
E1 6RA

Sprints Capital Management Limited (Registered number: 10045569)

Statement of Financial Position
31 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 60,613 -
Tangible assets 5 149,146 187,382
Investments 6 258,081 -
467,840 187,382

Current assets
Debtors 7 4,071,795 4,271,695
Cash at bank 650,133 922,943
4,721,928 5,194,638
Creditors: amounts falling due within one
year

8

3,302,646

3,127,343
Net current assets 1,419,282 2,067,295
Total assets less current liabilities 1,887,122 2,254,677


Provisions for liabilities 37,321 12,134

Capital and reserves
Called up share capital 10 200 200
Retained earnings 11 1,849,601 2,242,343
Shareholders' funds 1,849,801 2,242,543
1,887,122 2,254,677

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by:





M D Harrison - Director


Sprints Capital Management Limited (Registered number: 10045569)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

Sprints Capital Management Limited is a private company, limited by shares, registered in England and Wales. The company's registered number can be found on the Company Information page. The company's principal place of business is 17 Duke of York St, St. James's, London SW1Y 6LB.

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.

Going Concern
The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Preparation of consolidated financial statements
The financial statements contain information about Sprints Capital Management Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of investment advisory services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
- the amount of revenue can be reliably measured;
- and it is probable that future economic benefits will flow to the entity.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Fixed Assets
Items of fixed assets are measured at cost, which includes capitalised expenses directly attributable to bringing the fixed asset to its current state and location, less accumulated depreciation and any accumulate impairment losses.

Depreciation
Depreciation is calculated at the following annual rates in order to write off the cost less any estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost
Improvement to premises - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Sprints Capital Management Limited (Registered number: 10045569)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a
party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Total Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 recognised in the profit or loss account.

Hire purchase and leasing commitments
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 17 (2022 - 13 ) .

Sprints Capital Management Limited (Registered number: 10045569)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


4. Intangible fixed assets
Computer
software
£
Cost
Additions 67,348
At 31 March 2023 67,348
Amortisation
Amortisation for year 6,735
At 31 March 2023 6,735
Net book value
At 31 March 2023 60,613

5. Tangible fixed assets
Fixtures
Improvements and Computer
to property fittings equipment Totals
£ £ £ £
Cost
At 1 April 2022 227,427 49,869 49,832 327,128
Additions - 10,208 29,616 39,824
At 31 March 2023 227,427 60,077 79,448 366,952
Depreciation
At 1 April 2022 88,489 20,872 30,385 139,746
Charge for year 45,485 17,308 15,267 78,060
At 31 March 2023 133,974 38,180 45,652 217,806
Net book value
At 31 March 2023 93,453 21,897 33,796 149,146
At 31 March 2022 138,938 28,997 19,447 187,382

6. Fixed asset investments
Shares in
group
undertakings
£
Cost
Additions 258,081
At 31 March 2023 258,081
Net book value
At 31 March 2023 258,081

Sprints Capital Management Limited (Registered number: 10045569)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


6. Fixed asset investments - continued

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Sprints Capital Services S.A.R.L
Registered office: 14-16 avenue Pasteur, L-2310 Luxembourg
Nature of business: Financial services
%
Class of shares: holding
Ordinary 100.00

7. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 3,093,794 -
Amounts owed by group undertakings - 1,740,049
Other debtors 978,001 2,531,646
4,071,795 4,271,695

The company's assets are secured by three (2022: three) fixed charges registered at the Companies House. The fixed charges being held over all and any rights, title and interest, present and future of the debtor in or pursuant to each of the contracts.

8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 40,908 413,475
Taxation and social security 179,994 478,690
Other creditors 3,081,744 2,235,178
3,302,646 3,127,343

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 156,900 156,900
Between one and five years 156,900 313,800
313,800 470,700

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
200 200

Sprints Capital Management Limited (Registered number: 10045569)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


11. Reserves
Retained
earnings
£

At 1 April 2022 2,242,343
Profit for the year 1,347,307
Dividends (1,740,049 )
At 31 March 2023 1,849,601

12. Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

Michael Cook BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Kreston Reeves LLP

13. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£ £
P H Persson
Balance outstanding at start of year 12,943 4,515
Amounts advanced - 12,943
Amounts repaid (12,943 ) (4,515 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 12,943

14. Related party transactions

During the year, the company had revenues of £11,469,229 (2022 - £7,884,263) that related to revenues originated from investment partnerships that the company provides investment advice services to. As of the balance sheet date, the company had outstanding loans of £240,288 (2022 - £111,012) due from investment partnerships that the company provides investment advice services to.