Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 01895421 Mr Tristan Cook Mrs Marian Crausaz iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01895421 2023-06-30 01895421 2024-06-30 01895421 2023-07-01 2024-06-30 01895421 frs-core:CurrentFinancialInstruments 2024-06-30 01895421 frs-core:Non-currentFinancialInstruments 2024-06-30 01895421 frs-core:BetweenOneFiveYears 2024-06-30 01895421 frs-core:ComputerEquipment 2024-06-30 01895421 frs-core:ComputerEquipment 2023-07-01 2024-06-30 01895421 frs-core:ComputerEquipment 2023-06-30 01895421 frs-core:FurnitureFittings 2024-06-30 01895421 frs-core:FurnitureFittings 2023-07-01 2024-06-30 01895421 frs-core:FurnitureFittings 2023-06-30 01895421 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-06-30 01895421 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01895421 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-30 01895421 frs-core:MotorVehicles 2024-06-30 01895421 frs-core:MotorVehicles 2023-07-01 2024-06-30 01895421 frs-core:MotorVehicles 2023-06-30 01895421 frs-core:PlantMachinery 2024-06-30 01895421 frs-core:PlantMachinery 2023-07-01 2024-06-30 01895421 frs-core:PlantMachinery 2023-06-30 01895421 frs-core:WithinOneYear 2024-06-30 01895421 frs-core:RevaluationReserve 2023-07-01 2024-06-30 01895421 frs-core:RevaluationReserve 2023-06-30 01895421 frs-core:RevaluationReserve 2024-06-30 01895421 frs-core:SharePremium 2024-06-30 01895421 frs-core:ShareCapital 2024-06-30 01895421 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 01895421 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01895421 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 01895421 frs-bus:SmallEntities 2023-07-01 2024-06-30 01895421 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 01895421 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 01895421 frs-core:DeferredTaxation 2023-07-01 2024-06-30 01895421 frs-core:DeferredTaxation 2023-06-30 01895421 frs-core:DeferredTaxation 2024-06-30 01895421 frs-bus:Director1 2023-07-01 2024-06-30 01895421 frs-bus:Director2 2023-07-01 2024-06-30 01895421 frs-core:CurrentFinancialInstruments 2 2024-06-30 01895421 frs-countries:EnglandWales 2023-07-01 2024-06-30 01895421 2022-06-30 01895421 2023-06-30 01895421 2022-07-01 2023-06-30 01895421 frs-core:CurrentFinancialInstruments 2023-06-30 01895421 frs-core:Non-currentFinancialInstruments 2023-06-30 01895421 frs-core:BetweenOneFiveYears 2023-06-30 01895421 frs-core:WithinOneYear 2023-06-30 01895421 frs-core:RevaluationReserve 2023-06-30 01895421 frs-core:SharePremium 2023-06-30 01895421 frs-core:ShareCapital 2023-06-30 01895421 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 01895421 frs-core:CurrentFinancialInstruments 2 2023-06-30
Registered number: 01895421
Sparkworld Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Whitehead & Company
Chartered Accountants
Penfold
Cannington Lane
Uplyme
Dorset
DT7 3SW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 01895421
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,072,984 3,148,260
3,072,984 3,148,260
CURRENT ASSETS
Stocks 5 1,974,702 1,805,827
Debtors 6 403,296 435,101
Cash at bank and in hand 477,743 714,380
2,855,741 2,955,308
Creditors: Amounts Falling Due Within One Year 7 (1,472,437 ) (1,614,038 )
NET CURRENT ASSETS (LIABILITIES) 1,383,304 1,341,270
TOTAL ASSETS LESS CURRENT LIABILITIES 4,456,288 4,489,530
Creditors: Amounts Falling Due After More Than One Year 8 (224,680 ) (276,424 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (337,646 ) (371,245 )
NET ASSETS 3,893,962 3,841,861
CAPITAL AND RESERVES
Called up share capital 13 170 150
Share premium account 7,256 4,996
Revaluation reserve 15 1,789,650 1,813,930
Profit and Loss Account 2,096,886 2,022,785
SHAREHOLDERS' FUNDS 3,893,962 3,841,861
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Marian Crausaz
Director
15/08/2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sparkworld Limited Registered number 01895421 is a limited by shares company incorporated in England & Wales. The Registered Office is 9 Battle Road, Heathfield Industrial Estate, Newton Abbot, Devon, TQ12 6RY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The company has taken the option to early adopt SI 2015/980.
The financial statements are presented in Sterling and rounded to the nearest full £.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
The company recognises revenue when the amount of revenue can be reasonably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the Company's activities.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation and freehold property is revalued in accordance with FRS 102. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
An amount equal to the excess of the annual depreciation charge on the revalued assets over the notional historic cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.
Freehold 2% straight line
Plant & Machinery Straight line over five years
Motor Vehicles Straight line over five years
Fixtures & Fittings Straight line over two years
Computer Equipment Straight Line over three years
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs. There is no work-in-progress. 
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.In accordance with FRS 102 Small Entities, deferred tax has been provided on the gain arising from the revaluation of freehold properties.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Page 3
Page 4
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 38 (2023: 34)
38 34
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 July 2023 2,995,000 274,387 736,864 257,080
Additions - 52,819 - 17,197
As at 30 June 2024 2,995,000 327,206 736,864 274,277
Depreciation
As at 1 July 2023 179,700 238,573 525,302 213,850
Provided during the period 59,900 25,419 57,963 9,140
As at 30 June 2024 239,600 263,992 583,265 222,990
Net Book Value
As at 30 June 2024 2,755,400 63,214 153,599 51,287
As at 1 July 2023 2,815,300 35,814 211,562 43,230
Computer Equipment Total
£ £
Cost
As at 1 July 2023 238,642 4,501,973
Additions 20,230 90,246
As at 30 June 2024 258,872 4,592,219
Depreciation
As at 1 July 2023 196,288 1,353,713
Provided during the period 13,100 165,522
As at 30 June 2024 209,388 1,519,235
Net Book Value
As at 30 June 2024 49,484 3,072,984
As at 1 July 2023 42,354 3,148,260
Revaluation
The fair value of the company's freehold property was revalued on 30 June 2020 by an independent valuer at a value of £2,995,000.
The valuation was undertaken on a market value basis, which was calculated in accordance with the RICS Appraisal and Valuation Standards. The name and qualification of the independant valuer is G Courtney-Stamp of Jones Lang LaSalle of The Senate Southernhay, Exeter who is RICS qualified.
The historic cost equivalent of land and buildings included at valuation are as follows: Net book value £856,056 (2024) £883,225 (2023)
...CONTINUED
Page 4
Page 5
4. Tangible Assets - continued
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
5. Stocks
2024 2023
£ £
Stock - resale 1,974,702 1,805,827
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 137,071 166,733
Prepayments and accrued income 17,357 54,327
Miscellaneous debtors 248,868 214,041
403,296 435,101
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,476 32,744
Trade creditors 801,472 926,647
Bank loans and overdrafts 64,837 65,305
Corporation tax 87,474 101,888
Other taxes and social security 23,944 19,423
VAT 56,743 82,661
Other debtor provision 98,915 77,897
Accruals and deferred income 131,759 98,216
Directors' loan accounts 197,817 209,257
1,472,437 1,614,038
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 7,483
Bank loans 224,680 268,941
224,680 276,424
Page 5
Page 6
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 40,226
Bank loans and overdrafts 289,517 334,244
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,476 32,744
Later than one year and not later than five years - 7,483
9,476 40,227
9,476 40,227
11. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances and includes provision for deferred tax on the gain arising on the revaluation of freehold property.Accelerated capital allowances account for deferred tax of £76,349 and the balance of £261,297 relates to the potential tax on the gain in value of the freehold properties.
Deferred tax is calculated at a rate of 25% in accordance with current legislation.
2024 2023
£ £
Other timing differences 337,646 371,245
12. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 July 2023 371,245 371,245
Reversals (33,599 ) (33,599)
Balance at 30 June 2024 337,646 337,646
13. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 170 150
100 A Ordinary shares of £1 each and 70 B Ordinary non voting shares of £1, 20 of which were issued during the year.
14. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 173,400 171,000
Page 6
Page 7
15. Reserves
Revaluation Reserve
£
As at 1 July 2023 1,813,930
Transfer to profit and loss (24,280 )
As at 30 June 2024 1,789,650
16. Related Party Transactions
Transactions with directors and shareholders
During the year the Company paid dividends of £64,800 to directors (2023 £107,400) and £108,600 to other shareholders (2022 £63,600).
The directors made loans to the company which are interest free and have no fixed date of repayment.
The amount due to directors at 30th June 2024 was £77,279 (2023 £111,426).
The amount due to shareholders at 30th June 2023 was £122,818 (2023 £97,830).
17. Bank borrowing
The bank loan is denominated in £ with a nominal interest rate of 2.1% above Bank of England base rate. The carrying amount at the year end is £289,517 (2023 £334,244).
The loan is secured by a legal charge over the company's properties at Coat Road, Martock and Battle Road, Heathfield and a debenture over all company assets. Repayments are made monthly over the period of the loans and interest is charged quarterly.
Page 7