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Logo On Report
Registered Number: 09525113
England and Wales

 

 

 

HOTSPARKLE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Hotsparkle Ltd for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hotsparkle Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of Hotsparkle Ltd , as a body, in accordance with the terms of our engagement letter dated 04 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Hotsparkle Ltd and state those matters that we have agreed to state to the Board of Directors of Hotsparkle Ltd, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hotsparkle Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hotsparkle Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit Hotsparkle Ltd. You consider that Hotsparkle Ltd is exempt from the statutory audit requirement for the year

We have not been instructed to carry out an audit or a review of the accounts of Hotsparkle Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



T & K Accountancy LLP

69 Banstead Road
Carshalton
SM5 3NP
04 September 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 48    60 
Tangible fixed assets 4 482    642 
530    702 
Current assets      
Stocks   2,109 
Cash at bank and in hand (251)   (181)
(251)   1,928 
Creditors: amount falling due within one year (320)   (300)
Net current assets (571)   1,628 
 
Total assets less current liabilities (41)   2,330 
Creditors: amount falling due after more than one year (92,496)   (91,660)
Net assets (92,537)   (89,330)
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account (92,637)   (89,430)
Shareholders' funds (92,537)   (89,330)
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 04 September 2024 and were signed by:


-------------------------------
Bakula Rasiklal Bhayani
Director
2
General Information
Hotsparkle Ltd is a private company, limited by shares, registered in England and Wales, registration number 09525113, registration address 69 Banstead road, Carshalton, SM5 3NP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Intangible fixed assets

Cost Website Cost   Total
  £   £
At 01 April 2023 5,170    5,170 
Additions  
Disposals  
At 31 March 2024 5,170    5,170 
Amortisation
At 01 April 2023 5,110    5,110 
Charge for year 12    12 
On disposals  
At 31 March 2024 5,122    5,122 
Net book values
At 31 March 2024 48    48 
At 31 March 2023 60    60 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 April 2023 1,178    4,235    5,413 
Additions    
Disposals    
At 31 March 2024 1,178    4,235    5,413 
Depreciation
At 01 April 2023 1,060    3,711    4,771 
Charge for year 29    131    160 
On disposals    
At 31 March 2024 1,089    3,842    4,931 
Net book values
Closing balance as at 31 March 2024 89    393    482 
Opening balance as at 01 April 2023 118    524    642 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3