Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-312022-09-01falseproperty consultancy22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05909649 2022-09-01 2023-08-31 05909649 2021-09-01 2022-08-31 05909649 2023-08-31 05909649 2022-08-31 05909649 c:Director1 2022-09-01 2023-08-31 05909649 d:FurnitureFittings 2022-09-01 2023-08-31 05909649 d:FurnitureFittings 2023-08-31 05909649 d:FurnitureFittings 2022-08-31 05909649 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05909649 d:Goodwill 2023-08-31 05909649 d:Goodwill 2022-08-31 05909649 d:CurrentFinancialInstruments 2023-08-31 05909649 d:CurrentFinancialInstruments 2022-08-31 05909649 d:Non-currentFinancialInstruments 2023-08-31 05909649 d:Non-currentFinancialInstruments 2022-08-31 05909649 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 05909649 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 05909649 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 05909649 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 05909649 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 05909649 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 05909649 d:ShareCapital 2023-08-31 05909649 d:ShareCapital 2022-08-31 05909649 d:RetainedEarningsAccumulatedLosses 2023-08-31 05909649 d:RetainedEarningsAccumulatedLosses 2022-08-31 05909649 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 05909649 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-08-31 05909649 c:FRS102 2022-09-01 2023-08-31 05909649 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 05909649 c:FullAccounts 2022-09-01 2023-08-31 05909649 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05909649 2 2022-09-01 2023-08-31 05909649 6 2022-09-01 2023-08-31 05909649 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 05909649









SPRINGATE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

 
SPRINGATE LIMITED
REGISTERED NUMBER: 05909649

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
3,343
3,505

Investments
 6 
25
25

  
3,368
3,530

Current assets
  

Debtors: amounts falling due within one year
 7 
65,619
131,520

Cash at bank and in hand
 8 
233,888
134,958

  
299,507
266,478

Creditors: amounts falling due within one year
 9 
(69,904)
(68,064)

Net current assets
  
 
 
229,603
 
 
198,414

Total assets less current liabilities
  
232,971
201,944

Creditors: amounts falling due after more than one year
 10 
(11,270)
(16,099)

  

Net assets
  
221,701
185,845


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
221,601
185,745

  
221,701
185,845


Page 1

 
SPRINGATE LIMITED
REGISTERED NUMBER: 05909649
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider 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 directors acknowledge their 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 16 April 2024.




................................................
Mark A Smith
Director

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

Page 2

 
SPRINGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Springate Limited is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was that of property consultancy.
 

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

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.3

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.

 
2.4

Interest income

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

Page 3

 
SPRINGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

Taxation

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.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20% reducing balance

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.

Page 4

 
SPRINGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.16

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.

Page 5

 
SPRINGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Intangible assets




Goodwill

£



Cost


At 1 September 2022
70,000



At 31 August 2023

70,000



Amortisation


At 1 September 2022
70,000



At 31 August 2023

70,000



Net book value



At 31 August 2023
-



At 31 August 2022
-



Page 6

 
SPRINGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 September 2022
19,044


Additions
670



At 31 August 2023

19,714



Depreciation


At 1 September 2022
15,539


Charge for the year on owned assets
832



At 31 August 2023

16,371



Net book value



At 31 August 2023
3,343



At 31 August 2022
3,505


6.


Fixed asset investments





Investments in associates

£



Cost or valuation


At 1 September 2022
25



At 31 August 2023
25




Page 7

 
SPRINGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


Debtors

2023
2022
£
£


Trade debtors
63,998
129,746

Prepayments and accrued income
1,621
1,774

65,619
131,520



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
233,888
134,958

233,888
134,958



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
4,830
4,830

Corporation tax
40,167
34,728

Other taxation and social security
22,860
26,940

Other creditors
400
107

Accruals and deferred income
1,647
1,459

69,904
68,064



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
11,270
16,099

11,270
16,099


Page 8

 
SPRINGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
4,830
4,830

Amounts falling due 1-2 years

Bank loans
11,270
16,099



16,100
20,929



12.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
233,888
134,958




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


13.


Related party transactions

During the year the Company traded with Wrag Barn Management Limited, a company in which Springate Limited has 25% interest and of which director, Mark Smith is also a director. The Company made sales totalling £10,110 (2022 - £8,498) to Wrag Barn Management Limited. At the year end £Nil (2022 - £198) was outstanding.


14.


Controlling party

The Company is controlled by  the director, Mark Smith, by virtue of his shareholding as described in the Directors' report.

 
Page 9