Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312022-02-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10565311 2022-02-01 2023-01-31 10565311 2021-02-01 2022-01-31 10565311 2023-01-31 10565311 2022-01-31 10565311 c:Director1 2022-02-01 2023-01-31 10565311 d:Non-currentFinancialInstruments d:ListedExchangeTraded 2023-01-31 10565311 d:Non-currentFinancialInstruments d:ListedExchangeTraded 2022-01-31 10565311 d:CurrentFinancialInstruments 2023-01-31 10565311 d:CurrentFinancialInstruments 2022-01-31 10565311 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 10565311 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 10565311 d:ShareCapital 2023-01-31 10565311 d:ShareCapital 2022-01-31 10565311 d:RetainedEarningsAccumulatedLosses 2023-01-31 10565311 d:RetainedEarningsAccumulatedLosses 2022-01-31 10565311 c:FRS102 2022-02-01 2023-01-31 10565311 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 10565311 c:FullAccounts 2022-02-01 2023-01-31 10565311 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 10565311 d:EntityControlledByKeyManagementPersonnel1 2022-02-01 2023-01-31 10565311 d:EntityControlledByKeyManagementPersonnel1 2023-01-31 10565311 d:EntityControlledByKeyManagementPersonnel1 2022-01-31 10565311 d:EntityControlledByKeyManagementPersonnel2 2022-02-01 2023-01-31 10565311 d:EntityControlledByKeyManagementPersonnel2 2023-01-31 10565311 d:EntityControlledByKeyManagementPersonnel2 2022-01-31 10565311 6 2022-02-01 2023-01-31 10565311 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 10565311









SPM CAPITAL MANAGEMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

 
SPM CAPITAL MANAGEMENT LIMITED
REGISTERED NUMBER: 10565311

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
$
$

Fixed assets
  

Investments
 4 
13,344,683
12,748,471

  
13,344,683
12,748,471

Current assets
  

Debtors: amounts falling due within one year
 5 
258,083
93,727

Cash at bank and in hand
  
463,561
1,505,147

  
721,644
1,598,874

Creditors: amounts falling due within one year
 6 
(11,804,628)
(11,651,960)

Net current liabilities
  
 
 
(11,082,984)
 
 
(10,053,086)

Net assets
  
2,261,699
2,695,385


Capital and reserves
  

Called up share capital 
  
12
12

Profit and loss account
  
2,261,687
2,695,373

Shareholder's funds
  
2,261,699
2,695,385


Page 1

 
SPM CAPITAL MANAGEMENT LIMITED
REGISTERED NUMBER: 10565311
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

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 and delivered  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 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: 





S P Morris
Director

Date: 25 October 2023

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

Page 2

 
SPM CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

SPM Capital Management Limited is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 10565311). The registered office address is 45 Gresham Street, London, EC2V 7BG.

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

Going concern

The financial statements have been prepared on a going concern basis.
The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and has concluded that there are no material uncertainties that may cast doubt on the Company's ability to continue as a going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet. 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.

Investments in listed company shares are remeasured to market value at each balance sheet. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 3

 
SPM CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.5

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.6

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. 
Investments in listed shares are classified as basic financial instruments. They are initially measured at transaction price and subsequently measured at fair value, with changes in fair value being recognised in profit or loss. Fair value is determined using the quoted bid price at the balance sheet date.
Trade and other debtors and creditors are classified as basic financial instruments and measured on 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, short-term bank deposits with an original maturity of three months or less and bank overdrafts 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. 

Page 4

 
SPM CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.7

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 balance sheet 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 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.

 
2.8

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


Page 5

 
SPM CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Fixed asset investments





Listed investments
Other fixed asset investments
Total

$
$
$



Cost


At 1 February 2022
12,710,722
37,749
12,748,471


Additions
4,620,035
-
4,620,035


Disposals
(3,178,482)
-
(3,178,482)


Foreign exchange movement
(845,341)
-
(845,341)



At 31 January 2023
13,306,934
37,749
13,344,683





5.


Debtors

2023
2022
$
$


Amounts owed by joint ventures and associated undertakings
7,734
7,734

Other debtors
58
-

Prepayments and accrued income
103,263
85,993

Deferred taxation
147,028
-

258,083
93,727



6.


Creditors: Amounts falling due within one year

2023
2022
$
$

Corporation tax
-
82,691

Other creditors
11,786,033
11,551,115

Accruals and deferred income
18,595
18,154

11,804,628
11,651,960


Page 6

 
SPM CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

7.


Deferred taxation




2023


$






Charged to profit or loss
147,028



At end of year
147,028

The deferred tax asset is made up as follows:

2023
2022
$
$


Losses and other deductions
147,028
-


8.


Related party transactions

Transactions with the director
At the year end, the Company owed the director $11,551,115 (2022 - $11,551,115). This amount is unsecured and interest free with no set date for repayment. 
Transactions with an associate
At the year end, the Company was owed $7,734 (2022 - $7,734) from Boltons Place Capital Management Limited, a Company owned by the director.


9.


Controlling party

The ultimate controlling party is S P Morris, by virtue of his shareholding and directorship in the Company.

 
Page 7