Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity25truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 7959705 2023-04-01 2024-03-31 7959705 2022-04-01 2023-03-31 7959705 2024-03-31 7959705 2023-03-31 7959705 c:Director1 2023-04-01 2024-03-31 7959705 d:PlantMachinery 2023-04-01 2024-03-31 7959705 d:PlantMachinery 2024-03-31 7959705 d:PlantMachinery 2023-03-31 7959705 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 7959705 d:CurrentFinancialInstruments 2024-03-31 7959705 d:CurrentFinancialInstruments 2023-03-31 7959705 d:Non-currentFinancialInstruments 2024-03-31 7959705 d:Non-currentFinancialInstruments 2023-03-31 7959705 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 7959705 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 7959705 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 7959705 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 7959705 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 7959705 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 7959705 d:ShareCapital 2024-03-31 7959705 d:ShareCapital 2023-03-31 7959705 d:RetainedEarningsAccumulatedLosses 2024-03-31 7959705 d:RetainedEarningsAccumulatedLosses 2023-03-31 7959705 c:FRS102 2023-04-01 2024-03-31 7959705 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 7959705 c:FullAccounts 2023-04-01 2024-03-31 7959705 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 7959705 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 7959705 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 7959705 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 7959705 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 7959705 2 2023-04-01 2024-03-31 7959705 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 7959705










SPRAT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
SPRAT LIMITED
REGISTERED NUMBER: 7959705

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,461
3,965

  
3,461
3,965

Current assets
  

Debtors: amounts falling due within one year
 5 
62,251
230,313

Cash at bank and in hand
 6 
175,330
66,885

  
237,581
297,198

Creditors: amounts falling due within one year
 7 
(42,297)
(65,582)

Net current assets
  
 
 
195,284
 
 
231,616

Total assets less current liabilities
  
198,745
235,581

Creditors: amounts falling due after more than one year
 8 
(18,333)
(28,333)

Provisions for liabilities
  

Deferred tax
 10 
-
(753)

  
 
 
-
 
 
(753)

Net assets
  
180,412
206,495


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
180,411
206,494

  
180,412
206,495


Page 1

 
SPRAT LIMITED
REGISTERED NUMBER: 7959705

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 year 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 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 27 August 2024.




D M Gable
Director

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

Page 2

 
SPRAT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Sprat Limited is a limited company incorporated in England and Wales.
The company's principal place of business is 86-90 Paul Street, London, EC2A 4NE.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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:

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.

 
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.

 
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.

Page 3

 
SPRAT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

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

 
2.7

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.

 
2.8

Current and deferred taxation

The tax expense for the year 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.

 
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.

Page 4

 
SPRAT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Plant and equipment
-
25% straight line

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

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

 
SPRAT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

2024
2023
£
£

Wages and salaries
22,495
60,312

Cost of defined contribution scheme
50,206
664

72,701
60,976


The average monthly number of employees, including directors, during the year was 2 (2023 - 5).


4.


Tangible fixed assets





Plant and equipment

£



Cost or valuation


At 1 April 2023
79,511


Additions
874



At 31 March 2024

80,385



Depreciation


At 1 April 2023
75,546


Charge for the year on owned assets
1,378



At 31 March 2024

76,924



Net book value



At 31 March 2024
3,461



At 31 March 2023
3,965

Page 6

 
SPRAT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
28,758
83,195

Amounts owed by group undertakings
13,247
747

Other debtors
15,726
146,050

Prepayments and accrued income
342
321

Deferred taxation
4,178
-

62,251
230,313



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
175,330
66,885

175,330
66,885



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
5,577
6,277

Corporation tax
-
13,009

Other taxation and social security
7,446
18,536

Other creditors
19,274
17,760

42,297
65,582



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
18,333
28,333

18,333
28,333


Page 7

 
SPRAT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
18,333
28,333



28,333
38,333


Page 8

 
SPRAT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024


£






At beginning of year
(753)


Charged to profit or loss
4,931



At end of year
4,178

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(658)
(753)

Tax losses carried forward
4,836
-

4,178
(753)


11.


Pension commitments

The company contributes to a money purchase pension scheme in respect of the director and certain employees. The pension charge represents the amount payable by the company to the pension schemes during the year and amounted to £50,206 (2023 : £664). Contributions totalling £736 (2023 : £238) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

The company is controlled by D M Gable.


13.


Controlling party

The company's ultimate and immediate parent undertaking is Sprat Holdings Limited, a company registered in England and Wales. The registered office of the company is Kingsridge House, 601 London Road, Westcliff on Sea, Essex, SS0 9PE.


Page 9