REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
SPYROSOFT LTD |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
SPYROSOFT LTD |
SPYROSOFT LTD (REGISTERED NUMBER: 09952842) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SPYROSOFT LTD |
COMPANY INFORMATION |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Towngate House |
2-8 Parkstone Road |
Poole |
Dorset |
BH15 2PW |
SPYROSOFT LTD (REGISTERED NUMBER: 09952842) |
BALANCE SHEET |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share option reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SPYROSOFT LTD (REGISTERED NUMBER: 09952842) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Spyrosoft Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 |
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. |
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. |
SPYROSOFT LTD (REGISTERED NUMBER: 09952842) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Share based payments |
When share options are awarded to employees of the subsidiary company, the fair value of the options at the date of grant is charged to profit and loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. |
Fair value is calculated by reference to the market value of the parent company at the date of option exercise. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
SPYROSOFT LTD (REGISTERED NUMBER: 09952842) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
5. | DEBTORS - continued |
2023 | 2022 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
8. | RESERVES |
Share |
option |
reserve |
£ |
At 1 January 2023 |
Movement - exercised options | (33,719 | ) |
Share options issued in year | 26,413 |
At 31 December 2023 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
SPYROSOFT LTD (REGISTERED NUMBER: 09952842) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
10. | RELATED PARTY DISCLOSURES |
Spyrosoft S. A. (joint stock company) is a Director & Shareholder: |
During the year the company purchased services, on a commercial basis, to the value of £7,921,296 (2022: £7,175,055) from Spyrosoft S. A. |
During the year the company provided services, on a commercial basis, to the value of |
£276,688 (2022: £443,859) to Spyrosoft S. A. |
At the year end the company was owed £13,193 (2022: £28,438) by Spyrosoft S. A, and owed £1,737,360 (2022: £1,470,016) to Spyrosoft S. A during the normal course of its business. |
Additionally, at the year end the company owed £950 (2022: £950) to Spyrosoft S. A in the form of a loan. |
Better Software Group S. A. is a company that is 60% owned by Spyrosoft S.A: |
During the year the company purchased services, on a commercial basis, to the value of |
£1,607,942 (2022: £938,886l) from Better Software Group S. A. |
At the year end, the company owed £316,785 (2022: £283,395) to Better Software Group S. A. |
Spyrosoft ECommerce S. A. is a company that is 60% owned by Spyrosoft S.A: |
During the year the company purchased services, on a commercial basis, to the value of |
£11,434 (2022: £4,549) from Spyrosoft ECommerce S. A. |
During the year the company provided services, on a commercial basis, to the value of |
£nil (2022: £3,120) to Spyrosoft ECommerce S. A. |
At the year end the company was owed £nil (2022: £3,120) by Spyrosoft ECommerce S. A and owed £57,545 (2022: £4,549) to Spyrosoft ECommerce S. A. |
Unravel S. A. is a company that is 50% owned by Spyrosoft S.A: |
During the year the company purchased services, on a commercial basis, to the value of |
£314,157 (2022: £148,265) from Unravel S. A. |
At the year end, the company owed £72,662 (2022: £38,334) to Unravel S. A. |
Spyrosoft Solutions S. A. is a company that is 50% owned by Spyrosoft S.A: |
During the year the company purchased services, on a commercial basis, to the value of |
£281,355 (2022: £28,356) from Spyrosoft Solutions S. A. |
During the year the company provided services, on a commercial basis, to the value of |
£103,981 (2022: £33,102) to Spyrosoft Solutions S. A. |
At the year end the company was owed £4,860 (2022: £8,072) by Spyrosoft Solutions S. A and owed £49,539 (2022: £6,276) to Spyrosoft Solutions S. A. |
Spyrosoft Solutions d.o.o. is a subsidiary concern within the Spyrosoft S. A. group: |
During the year the company provided services, on a commercial basis, to the value of |
£nil (2022: £43,397) to Spyrosoft Solutions d.o.o. |
During the year the company purchased services, on a commercial basis, to the value of |
£538,813 (2022: £258,167) from Spyrosoft Solutions d.o.o. |
At the year end the company was owed £nil (2022: £nil) by Spyrosoft Solutions d.o.o. and owed £135,698 (2022: £213,907) to Spyrosoft Solutions d.o.o. |
Spyrosoft Synergy S.A. is a subsidiary concern within the Spyrosoft S. A. group: |
During the year the company provided services, on a commercial basis, to the value of |
£428 (2022: £nil) to Spyrosoft Synergy S.A. |
During the year the company purchased services, on a commercial basis, to the value of |
£318,021 (2022: £234,567) from Spyrosoft Synergy S.A. |
At the year end the company owed £57,980 (2022: £54,246) to Spyrosoft Synergy S.A. |
SPYROSOFT LTD (REGISTERED NUMBER: 09952842) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
Spyrosoft Connect S.A. is a subsidiary concern within the Spyrosoft S. A. group: |
During the year the company provided services, on a commercial basis, to the value of |
£5,102 (2022: £nil) to Spyrosoft Synergy S.A. |
During the year the company purchased services, on a commercial basis, to the value of |
£307,137 (2022: £nil) from Spyrosoft Connect S.A. |
At the year end the company was owed £nil (2022: £nil) to Spyrosoft Connect S.A.and owed £89,493 (2022: £nil) to Spyrosoft Connect S.A. |
Codefix Ltd is a company in which A Radcliffe is also a Director & Shareholder: |
During the year the company purchased services, on a commercial basis, to the value of £154,343 (2022: £234,510) from Codefix Ltd. |
No amounts were outstanding at the year-end (2022: £nil). |
A Radcliffe is a Director: |
Amount owed by the company at the year end was £64 (2022: £64). |
The director also also had a loan extended to him under normal commercial terms during the year. |
Spyrosoft Limited has loaned £16,208 (2022: £67,366) to the director during the year, on which interest is being charged at 2.25% (2022: 2%). There are no set repayment terms but the loan is repayable on request. The balance at the year end was £86,556 (2022: £68,504). |
D Johnson is a key member of senior management within the company. |
A loan was extended to him under normal commercial terms during the year. |
Spyrosoft Limited has loaned £17,530 (2022: £70,971) to the director during the year, on which interest is being charged at 2.25% (2022: 2%). There are no set repayment terms but the loan is repayable on request. The balance at the year end was 91,653 (2022: £72,170). |
All amounts owed to / from group undertakings and related parties are unsecured, interest free, have no fixed date of repayment and are repayable on demand unless otherwise stated. |
11. | POST BALANCE SHEET EVENTS |
In the months following the end of the financial year one of the Directors and another key employee exercised share options granted to them during the financial year ended 31 December 2021, leading to the issuing of 200 Ordinary £0.01 B Shares. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is Spyrosoft S.A.. |
pl. Nowy Targ 28 |
50-141 Wroclaw |
Poland |
Company Registration Number: 0000616387 |
Consolidated financial statements are prepared. |