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Registration number: 12133626

Spoormaker & Partners Uk Ltd

Annual Report and Financial Statements

for the Year Ended 28 February 2023

Pages for filing with Registrar

 

Spoormaker & Partners Uk Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Spoormaker & Partners Uk Ltd

Company Information

Directors

G A Rouse

J Ferreira

Registered office

176 Blackamoor Lane
Maidenhead
SL6 8RT

Registered number

12133626

Auditors

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Spoormaker & Partners Uk Ltd

(Registration number: 12133626)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,178

2,130

Current assets

 

Debtors

5

75,556

16,963

Cash at bank and in hand

 

68,377

16,170

 

143,933

33,133

Creditors: Amounts falling due within one year

6

(356,870)

(282,527)

Net current liabilities

 

(212,937)

(249,394)

Net liabilities

 

(209,759)

(247,264)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(209,859)

(247,364)

Total equity

 

(209,759)

(247,264)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 28 November 2023 and signed on its behalf by:
 

.........................................

J Ferreira
Director

 

Spoormaker & Partners Uk Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
176 Blackamoor Lane
Maidenhead
SL6 8RT
England

The principal place of business is:
Alpha House
100 Borough High Street
London
SE1 1LB

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis. This assessment takes into account the possibility of the parent company, Spoormaker & Partners (Pty) Ltd, continuing to provide financial support during that period. The parent company has confirmed its intention to continue to make available such funds as are needed by the Company for the period of at least 12 months from the date of approval of the financial statements. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.

 

Spoormaker & Partners Uk Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

Revenue recognition

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

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
The amount of revenue can be measured reliably;
It is probable that the company will receive the consideration due under the contract;
The stage of completion of the contract at the end of the reporting period can be measured reliably;
And the costs incurred and the costs to complete the contract can be measured reliably.

Foreign currency transactions and balances

Assets and liabilities denominated 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 taken into account in arriving at the operating result.

Tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Spoormaker & Partners Uk Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:

Plant and machinery

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

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.

Financial instruments

Basic financial instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any other financial instruments as covered by section 12 of FRS102.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Spoormaker & Partners Uk Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

4

Tangible fixed assets

Plant and machinery
£

Cost

At 1 March 2022

2,522

Additions

1,881

At 28 February 2023

4,403

Depreciation

At 1 March 2022

392

Charge for the year

833

At 28 February 2023

1,225

Carrying amount

At 28 February 2023

3,178

At 28 February 2022

2,130

 

Spoormaker & Partners Uk Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

5

Debtors: amounts falling due within one year

2023
£

2022
£

Trade debtors

44,125

11,647

Prepayments and accrued income

31,261

-

Other debtors

170

5,316

75,556

16,963

6

Creditors

Note

2023
£

2022
£

Amounts falling due within one year

 

Trade creditors

 

20,177

-

Amounts owed to group undertakings

302,265

272,222

Taxation and social security

 

20,852

2,863

Other creditors

 

13,576

7,442

 

356,870

282,527

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

998

980

 

Spoormaker & Partners Uk Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

9

Ultimate parent company

The ultimate parent company is Spoormaker & Partners (Pty) Ltd, incorporated in South Africa, by virtue of its 100% shareholding. Spoormaker & Partners (Pty) Ltd's registered office is 1282 South Street, Centurion Central, Centurion, 0046, South Africa.

10

Audit report

As the profit and loss account has been omitted from the filing copy of the financial statements the following information is in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The Independent Auditor's Report was unqualified.
The name of the Senior Statutory Auditor who signed the audit report on 28 November 2023 was Stuart Crisp BSc FCA.
• The auditor was Corrigan Accountants Limited.