Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02563174 2022-04-01 2023-03-31 02563174 2021-04-01 2022-03-31 02563174 2023-03-31 02563174 2022-03-31 02563174 c:Director1 2022-04-01 2023-03-31 02563174 d:FurnitureFittings 2022-04-01 2023-03-31 02563174 d:FurnitureFittings 2023-03-31 02563174 d:FurnitureFittings 2022-03-31 02563174 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02563174 d:ComputerEquipment 2022-04-01 2023-03-31 02563174 d:ComputerEquipment 2023-03-31 02563174 d:ComputerEquipment 2022-03-31 02563174 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02563174 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02563174 d:CurrentFinancialInstruments 2023-03-31 02563174 d:CurrentFinancialInstruments 2022-03-31 02563174 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02563174 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 02563174 d:ShareCapital 2023-03-31 02563174 d:ShareCapital 2022-03-31 02563174 d:RetainedEarningsAccumulatedLosses 2023-03-31 02563174 d:RetainedEarningsAccumulatedLosses 2022-03-31 02563174 c:FRS102 2022-04-01 2023-03-31 02563174 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 02563174 c:FullAccounts 2022-04-01 2023-03-31 02563174 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02563174 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 02563174 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 02563174 d:RetirementBenefitObligationsDeferredTax 2023-03-31 02563174 d:RetirementBenefitObligationsDeferredTax 2022-03-31 02563174 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 02563174










SPRINGVALE EQUIPMENT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
SPRINGVALE EQUIPMENT LIMITED
REGISTERED NUMBER: 02563174

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
882
2,502

  
882
2,502

Current assets
  

Debtors: amounts falling due within one year
 5 
298,335
4,594

Cash at bank and in hand
  
292,828
210,792

  
591,163
215,386

Creditors: amounts falling due within one year
 6 
(135,238)
(54,959)

Net current assets
  
 
 
455,925
 
 
160,427

Total assets less current liabilities
  
456,807
162,929

Provisions for liabilities
  

Deferred tax
 7 
-
(277)

  
 
 
-
 
 
(277)

Net assets
  
456,807
162,652


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
455,807
161,652

  
456,807
162,652

Page 1

 
SPRINGVALE EQUIPMENT LIMITED
REGISTERED NUMBER: 02563174
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 her 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 on 14 November 2023.




K P Cobbett
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
SPRINGVALE EQUIPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Springvale Equipment Limited (registered number 02563174) was incorporated and registered in England & Wales, is a privately owned company limited by shares. The registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

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

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

 
SPRINGVALE EQUIPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
20%
Straight Line
Computer equipment
-
25%
Straight Line

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.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

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.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
SPRINGVALE EQUIPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.9

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.

 
2.10

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.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
SPRINGVALE EQUIPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.12

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.13

Interest income

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

 
2.14

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 reporting 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.

 
2.15

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 reporting 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 Statement of financial position.

Page 6

 
SPRINGVALE EQUIPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
10,329
21,229
31,558


Additions
-
292
292



At 31 March 2023

10,329
21,521
31,850



Depreciation


At 1 April 2022
9,858
19,198
29,056


Charge for the year on owned assets
233
1,679
1,912



At 31 March 2023

10,091
20,877
30,968



Net book value



At 31 March 2023
238
644
882



At 31 March 2022
471
2,031
2,502

Page 7

 
SPRINGVALE EQUIPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
295,153
-

Other debtors
1,519
1,218

Prepayments and accrued income
1,609
3,376

Deferred taxation
54
-

298,335
4,594



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,602
4,661

Corporation tax
89,233
6,226

Other taxation and social security
11,956
8,103

Other creditors
28,647
34,169

Accruals and deferred income
1,800
1,800

135,238
54,959



7.


Deferred taxation




2023


£






At beginning of year
(277)


Charged to profit or loss
331



At end of year
54

Page 8

 
SPRINGVALE EQUIPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
7.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(221)
(475)

Pension surplus
275
198

54
(277)


8.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £42,467 (2022: £42,109). 
Included within this, was an amount of £1,100 (2022: £1,100) of outstanding contributions at the year end.

 
Page 9