BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company consists of connecting the commercial and corporate world to enable sponsorship deals as well as to connect to consumers. 19 September 2024 3 3 12475092 2023-12-31 12475092 2022-12-31 12475092 2021-12-31 12475092 2023-01-01 2023-12-31 12475092 2022-01-01 2022-12-31 12475092 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12475092 uk-curr:PoundSterling 2023-01-01 2023-12-31 12475092 uk-bus:AbridgedAccounts 2023-01-01 2023-12-31 12475092 uk-bus:Director1 2023-01-01 2023-12-31 12475092 uk-bus:Director2 2023-01-01 2023-12-31 12475092 uk-bus:Director3 2023-01-01 2023-12-31 12475092 uk-bus:Director4 2023-01-01 2023-12-31 12475092 uk-bus:Director5 2023-01-01 2023-12-31 12475092 uk-bus:RegisteredOffice 2023-01-01 2023-12-31 12475092 uk-bus:Agent1 2023-01-01 2023-12-31 12475092 uk-core:ShareCapital 2023-12-31 12475092 uk-core:ShareCapital 2022-12-31 12475092 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 12475092 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 12475092 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 12475092 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 12475092 uk-core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 12475092 uk-bus:FRS102 2023-01-01 2023-12-31 12475092 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 12475092 uk-core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 12475092 2023-01-01 2023-12-31 12475092 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: 12475092
 
 
Spontza Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 December 2023
Spontza Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Donal McKeagney (Appointed 6 December 2023)
John Glennane
Michael Hawkes
Mark John Makin (Resigned 8 November 2023)
Brian O'Flynn (Appointed 6 December 2023)
 
 
Company Registration Number 12475092
 
 
Registered Office M-SParc, Parc Gwyddoniaeth Menai
Gaerwen
Wales
LL60 6AG
 
 
Business Address M-SParc, Parc Gwyddoniaeth Menai
Gaerwen
Wales
LL60 6AG
 
 
Accountants TGS Ireland GBW
Chartered Certified Accountants
Westmoreland House
Westmoreland Park
Ranelagh
Dublin 6
 
 
Bankers Barclays Bank PLC
  Leicester
  Leicestershire
  LE87, 2BB
  United Kingdom



Spontza Limited
DIRECTORS' REPORT
for the financial year ended 31 December 2023

 
The directors present their report and the unaudited financial statements for the financial year ended 31 December 2023.
 
Principal Activity
The principal activity of the company consists of connecting the commercial and corporate world to enable sponsorship deals as well as to connect to consumers.
     
Results and Dividends
The loss for the financial year after providing for depreciation and taxation amounted to £(82,906) (2022 - £(45,938)).
     
Directors
The directors who served during the financial year are as follows:
     
Donal McKeagney (Appointed 6 December 2023)
John Glennane
Michael Hawkes
Mark John Makin (Resigned 8 November 2023)
Brian O'Flynn (Appointed 6 December 2023)
   
There were no changes in shareholdings between 31 December 2023 and the date of signing the financial statements.
     
Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Employment Policies
Employees are kept as fully informed as practicable about developments within the business. It is the policy of the company to offer opportunities to all employees having regard to their aptitudes and abilities in relation to jobs available.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
     
___________________________ ___________________________
Donal McKeagney John Glennane
Director Director
     
19 September 2024 19 September 2024



Spontza Limited
STATEMENT OF DIRECTORS' RESPONSIBILITIES AND DECLARATION ON UNAUDITED FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

 
The directors made the following statement in respect of the unaudited financial statements:
 
"General responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
 
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Directors' declaration on unaudited financial statements
In relation to the financial statements which comprise the Abridged Income Statement, the Abridged Statement of Financial Position, the Statement of Changes in Equity and the related notes:
     
The directors approve these financial statements and confirm that they are responsible for them, including selecting the appropriate accounting policies, applying them consistently and making, on a reasonable and prudent basis, the judgements underlying them. They have been prepared on the going concern basis on the grounds that the company will continue in business.
     
The directors confirm that they have made available to TGS Ireland GBW, (Chartered Certified Accountants), all the company's accounting records and provided all the information, books and documents necessary for the compilation of the financial statements.
     
The directors confirm that to the best of their knowledge and belief, the accounting records reflect all the transactions of the company for the financial year ended 31 December 2023."
     
     
On behalf of the board
     
     
     
___________________________ ___________________________
Donal McKeagney John Glennane
Director Director
     
19 September 2024 19 September 2024



Spontza Limited
ABRIDGED INCOME STATEMENT
for the financial year ended 31 December 2023
2023 2022
Notes £ £

Gross (loss)/profit (19,482) 4,006
 
Administrative expenses (63,424) (64,710)
───────── ─────────
Loss before taxation (82,906) (60,704)
 
Tax on loss - 14,766
───────── ─────────
Loss for the financial year (82,906) (45,938)
───────── ─────────
Total comprehensive income (82,906) (45,938)
    ═════════   ═════════



Spontza Limited
Company Registration Number: 12475092
ABRIDGED STATEMENT OF FINANCIAL POSITION
as at 31 December 2023

2023 2022
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 3,854 1,522
───────── ─────────
 
Current Assets
Debtors 685 (643)
Cash and cash equivalents 11,210 31,413
───────── ─────────
11,895 30,770
───────── ─────────
Creditors: amounts falling due within one year (174,197) (107,834)
───────── ─────────
Net Current Liabilities (162,302) (77,064)
───────── ─────────
Total Assets less Current Liabilities (158,448) (75,542)
 
Provisions for liabilities 14,766 14,766
───────── ─────────
Net Liabilities (143,682) (60,776)
═════════ ═════════
 
Capital and Reserves
Called up share capital 1 1
Retained earnings (143,683) (60,777)
───────── ─────────
Equity attributable to owners of the company (143,682) (60,776)
═════════ ═════════
 
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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Board and authorised for issue on 19 September 2024 and signed on its behalf by
           
           
           
________________________________     ________________________________
Donal McKeagney     John Glennane
Director     Director
           



Spontza Limited
STATEMENT OF CHANGES IN EQUITY
as at 31 December 2023

Called up Retained Total
share earnings
capital
£ £ £
 
At 1 January 2022 1 (14,839) (14,838)
───────── ───────── ─────────
Loss for the financial year - (45,938) (45,938)
───────── ───────── ─────────
At 31 December 2022 1 (60,777) (60,776)
  ───────── ───────── ─────────
Loss for the financial year - (82,906) (82,906)
  ───────── ───────── ─────────
At 31 December 2023 1 (143,683) (143,682)
  ═════════ ═════════ ═════════



Spontza Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Spontza Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 12475092. The registered office of the company is M-SParc, Parc Gwyddoniaeth Menai, Gaerwen, Wales, LL60 6AG. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Turnover comprises the fair value of consideration received and receivable exclusive of value added tax and after discounts and rebates.

Where the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes a financing transaction, the fair value of the consideration is measured as the present value of all future receipts using the imputed rate of interest.

Turnover from the provision of services is recognised in the accounting period in which the services are rendered and the outcome of the contract can be estimated reliably.  The company uses the percentage of completion method based on the actual service performed as a percentage of the total services to be provided.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 12.50% Straight line
  Computer Equipment - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Abridged Statement of Financial Position bank overdrafts are shown within Creditors.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

 
Employee benefits
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 company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 3, (2022 - 3).
 
  2023 2022
  Number Number
 
Directors 3 3
  ═════════ ═════════
         
4. Property, plant and equipment
  Fixtures, Computer Total
  fittings and Equipment  
  equipment    
  £ £ £
Cost
At 1 January 2023 1,215 917 2,132
Additions 1,093 2,699 3,792
  ───────── ───────── ─────────
At 31 December 2023 2,308 3,616 5,924
  ───────── ───────── ─────────
Depreciation
At 1 January 2023 152 458 610
Charge for the financial year 630 830 1,460
  ───────── ───────── ─────────
At 31 December 2023 782 1,288 2,070
  ───────── ───────── ─────────
Net book value
At 31 December 2023 1,526 2,328 3,854
  ═════════ ═════════ ═════════
At 31 December 2022 1,063 459 1,522
  ═════════ ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
   
6. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.