SPIKEY U LTD

Company Registration Number:
12475295 (England and Wales)

Unaudited abridged accounts for the year ended 19 August 2023

Period of accounts

Start date: 20 August 2022

End date: 19 August 2023

SPIKEY U LTD

Contents of the Financial Statements

for the Period Ended 19 August 2023

Balance sheet
Notes

SPIKEY U LTD

Balance sheet

As at 19 August 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 520,000 540,570
Tangible assets: 4 30,000 27,540
Investments:   0 0
Total fixed assets: 550,000 568,110
Current assets
Stocks: 70,000 90,000
Debtors:   42,000 64,000
Cash at bank and in hand: 14,500 24,600
Investments:   0 0
Total current assets: 126,500 178,600
Creditors: amounts falling due within one year:   (37,367)
Net current assets (liabilities): 89,133 178,600
Total assets less current liabilities: 639,133 746,710
Total net assets (liabilities): 639,133 746,710
Capital and reserves
Called up share capital: 100 100
Revaluation reserve:5339,033446,610
Other reserves: 300,000 300,000
Shareholders funds: 639,133 746,710

The notes form part of these financial statements

SPIKEY U LTD

Balance sheet statements

For the year ending 19 August 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 09 October 2024
and signed on behalf of the board by:

Name: Vladimir Portnykh
Status: Director

The notes form part of these financial statements

SPIKEY U LTD

Notes to the Financial Statements

for the Period Ended 19 August 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received (including disbursements) or receivable in respect of training services and/or goods excluding VAT. Turnover is recognised once the training including assessments has been undcrtaken.

Tangible fixed assets and depreciation policy

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 uscful lifc. If a reliable estimate of the useful life cannot be made, the usful life shall not exceed ten years. Amortisation is provided on the following bases: Website development 33 % reducing balance

Intangible fixed assets and amortisation policy

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 uscful life. If a reliable estimate of the uscful life cannot be made, the useful life shall not exceed ten years. A mortisation is provided on the following bases: Website development 33 % reducing balance

Valuation and information policy

Stocks and Work in progress are valued at the lower of cost and net realisable value: estimated selling price less costs to complete and sell'. It is the expected sale price of the relevant stock in the condition in which it is expected to be sold in the trader's normal selling market. From that value the estimated further costs are deducted which will have to be incurred to get the stock into its normal sale condition to arrive at the net realisable value. It may be less than cost because of deterioration, obsolescence, or changes in demand.

Other accounting policies

Taxation for the ycar comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. Financial instruments The company has chosen to adopt Sections 11 and 12 of FRS 102 in respcet of financial instruments. The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other deblors and creditors and loans from related parties. (i) Financial assets Basic financial assets, including trade and other debtors are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings. Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. (i) Financial liabilities Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities it payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilitics are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.Offsetting Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle

SPIKEY U LTD

Notes to the Financial Statements

for the Period Ended 19 August 2023

2. Employees

2023 2022
Average number of employees during the period 2 2

SPIKEY U LTD

Notes to the Financial Statements

for the Period Ended 19 August 2023

3. Intangible Assets

Total
Cost £
At 20 August 2022 540,570
Additions 0
Disposals (120,000)
Revaluations 99,430
At 19 August 2023 520,000
Net book value
At 19 August 2023 520,000
At 19 August 2022 540,570

SPIKEY U LTD

Notes to the Financial Statements

for the Period Ended 19 August 2023

4. Tangible Assets

Total
Cost £
At 20 August 2022 27,540
Additions 2,460
At 19 August 2023 30,000
Net book value
At 19 August 2023 30,000
At 19 August 2022 27,540

SPIKEY U LTD

Notes to the Financial Statements

for the Period Ended 19 August 2023

5. Revaluation reserve

2023
£
Balance at 20 August 2022 446,610
Surplus or deficit after revaluation (107,577)
Balance at 19 August 2023 339,033