Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30true2023-01-01falseOther telecommunications activities412falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04408115 2023-01-01 2023-06-30 04408115 2022-01-01 2022-12-31 04408115 2023-06-30 04408115 2022-12-31 04408115 c:Director5 2023-01-01 2023-06-30 04408115 d:PlantMachinery 2023-01-01 2023-06-30 04408115 d:PlantMachinery 2023-06-30 04408115 d:PlantMachinery 2022-12-31 04408115 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-06-30 04408115 d:MotorVehicles 2023-01-01 2023-06-30 04408115 d:MotorVehicles 2023-06-30 04408115 d:MotorVehicles 2022-12-31 04408115 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-06-30 04408115 d:FurnitureFittings 2023-01-01 2023-06-30 04408115 d:FurnitureFittings 2023-06-30 04408115 d:FurnitureFittings 2022-12-31 04408115 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-06-30 04408115 d:OfficeEquipment 2023-01-01 2023-06-30 04408115 d:OfficeEquipment 2023-06-30 04408115 d:OfficeEquipment 2022-12-31 04408115 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-06-30 04408115 d:ComputerEquipment 2023-01-01 2023-06-30 04408115 d:OwnedOrFreeholdAssets 2023-01-01 2023-06-30 04408115 d:CurrentFinancialInstruments 2023-06-30 04408115 d:CurrentFinancialInstruments 2022-12-31 04408115 d:Non-currentFinancialInstruments 2023-06-30 04408115 d:Non-currentFinancialInstruments 2022-12-31 04408115 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04408115 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04408115 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 04408115 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04408115 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 04408115 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 04408115 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 04408115 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 04408115 d:ShareCapital 2023-06-30 04408115 d:ShareCapital 2022-12-31 04408115 d:RetainedEarningsAccumulatedLosses 2023-06-30 04408115 d:RetainedEarningsAccumulatedLosses 2022-12-31 04408115 c:FRS102 2023-01-01 2023-06-30 04408115 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-06-30 04408115 c:FullAccounts 2023-01-01 2023-06-30 04408115 c:PrivateLimitedCompanyLtd 2023-01-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 04408115









SPINDLEWOOD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2023

 
SPINDLEWOOD LIMITED
REGISTERED NUMBER: 04408115

BALANCE SHEET
AS AT 30 JUNE 2023

30 June
31 December
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,524
23,771

  
17,524
23,771

Current assets
  

Stocks
  
76,343
71,697

Debtors: amounts falling due within one year
 5 
453,271
269,715

Cash at bank and in hand
 6 
226,502
232,208

  
756,116
573,620

Creditors: amounts falling due within one year
 7 
(217,897)
(180,158)

Net current assets
  
 
 
538,219
 
 
393,462

Total assets less current liabilities
  
555,743
417,233

Creditors: amounts falling due after more than one year
 8 
(85,001)
(105,001)

  

Net assets
  
470,742
312,232


Capital and reserves
  

Called up share capital 
  
747,709
747,709

Profit and loss account
  
(276,967)
(435,477)

  
470,742
312,232


Page 1

 
SPINDLEWOOD LIMITED
REGISTERED NUMBER: 04408115
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 Period 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 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 comprehensive income 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: 




P M Yeomans
Director

Date: 4 March 2024

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

Page 2

 
SPINDLEWOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

1.


General information

Spindlewood Limited is a private company, limited by shares, registered in England and Wales (registered number: 04408115). The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the company.

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.

Rendering of services

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.

Page 3

 
SPINDLEWOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the Period in which they are incurred.

 
2.5

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the Period 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.

Page 4

 
SPINDLEWOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.7

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.

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:

Plant and machinery
-
Straight line over  3 years and straight line over 5 years.
Motor vehicles
-
33%
Fixtures and fittings
-
33%
Computer equipment
-
33%

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

 
2.10

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.

Page 5

 
SPINDLEWOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the Period was 4 (2022 - 12).

Page 6

 
SPINDLEWOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

4.


Tangible fixed assets







Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
89,045
1,900
8,153
15,836
114,934


Additions
-
-
-
999
999



At 30 June 2023

89,045
1,900
8,153
16,835
115,933



Depreciation


At 1 January 2023
69,100
1,900
8,153
12,010
91,163


Charge for the Period on owned assets
5,918
-
-
1,328
7,246



At 30 June 2023

75,018
1,900
8,153
13,338
98,409



Net book value



At 30 June 2023
14,027
-
-
3,497
17,524



At 31 December 2022
19,945
-
-
3,826
23,771


5.


Debtors

30 June
31 December
2023
2022
£
£


Trade debtors
90,038
153,692

Other debtors
58,584
100,286

Prepayments and accrued income
258,565
15,737

Deferred taxation
46,084
-

453,271
269,715


Page 7

 
SPINDLEWOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

6.


Cash and cash equivalents

30 June
31 December
2023
2022
£
£

Cash at bank and in hand
226,502
232,208

226,502
232,208



7.


Creditors: Amounts falling due within one year

30 June
31 December
2023
2022
£
£

Bank loans
40,000
40,000

Trade creditors
13,026
10,128

Other taxation and social security
66,734
83,472

Other creditors
-
2,284

Accruals and deferred income
98,137
44,274

217,897
180,158



8.


Creditors: Amounts falling due after more than one year

30 June
31 December
2023
2022
£
£

Bank loans
85,001
105,001

85,001
105,001


Page 8

 
SPINDLEWOOD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

9.


Loans


Analysis of the maturity of loans is given below:


30 June
31 December
2023
2022
£
£

Amounts falling due within one year

Bank loans
40,000
40,000


40,000
40,000

Amounts falling due 1-2 years

Bank loans
40,000
40,000


40,000
40,000

Amounts falling due 2-5 years

Bank loans
45,001
65,001


45,001
65,001


125,001
145,001



10.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charged represents contributions payable by the company to the fund and amounted to £2,249 (2022: £9,977). Contributions totalling £nil (2022: £2,284) were payable to the fund at the balance sheet date and are included in creditors.


11.


Controlling party

The immediate parent company is PMY Technologies (UK) Limited, a company registered in England and Wales, who acquired 100% of the share capital of the company during the year.
PMY Group PTY Limited is the ultimate controlling party of the company.

 
Page 9