Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31No description of principal activity2023-02-01falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10565311 2023-02-01 2024-01-31 10565311 2022-02-01 2023-01-31 10565311 2024-01-31 10565311 2023-01-31 10565311 2022-02-01 10565311 c:Director1 2023-02-01 2024-01-31 10565311 d:Non-currentFinancialInstruments d:ListedExchangeTraded 2024-01-31 10565311 d:Non-currentFinancialInstruments d:ListedExchangeTraded 2023-01-31 10565311 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2024-01-31 10565311 d:CurrentFinancialInstruments 2024-01-31 10565311 d:CurrentFinancialInstruments 2023-01-31 10565311 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 10565311 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 10565311 d:ShareCapital 2024-01-31 10565311 d:ShareCapital 2023-01-31 10565311 d:RetainedEarningsAccumulatedLosses 2024-01-31 10565311 d:RetainedEarningsAccumulatedLosses 2023-01-31 10565311 c:FRS102 2023-02-01 2024-01-31 10565311 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 10565311 c:FullAccounts 2023-02-01 2024-01-31 10565311 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10565311 6 2023-02-01 2024-01-31 10565311 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 10565311 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 10565311 e:USDollar 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 10565311









SPM CAPITAL MANAGEMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
SPM CAPITAL MANAGEMENT LIMITED
REGISTERED NUMBER: 10565311

BALANCE SHEET
AS AT 31 JANUARY 2024

As restated
2024
2023
Note
$
$

Fixed assets
  

Investments
 4 
14,750,026
13,697,072

  
14,750,026
13,697,072

Current assets
  

Debtors: amounts falling due within one year
 5 
148,330
258,083

Cash at bank and in hand
  
282,232
463,561

  
430,562
721,644

Creditors: amounts falling due within one year
 6 
(11,794,672)
(11,804,628)

Net current liabilities
  
 
 
(11,364,110)
 
 
(11,082,984)

Net assets
  
3,385,916
2,614,088


Capital and reserves
  

Called up share capital 
  
12
12

Retained earnings
  
3,385,904
2,614,076

Shareholder's funds
  
3,385,916
2,614,088


Page 1

 
SPM CAPITAL MANAGEMENT LIMITED
REGISTERED NUMBER: 10565311
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 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 and delivered 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 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 by: 



S P Morris
Director

Date: 6 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SPM CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

SPM Capital Management Limited is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 10565311). The registered office address is 45 Gresham Street, London, EC2V 7BG.

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

Going concern

The financial statements have been prepared on a going concern basis.
The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and has concluded that there are no material uncertainties that may cast doubt on the Company's ability to continue as a going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 3

 
SPM CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Page 4

 
SPM CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).





Page 5

 
SPM CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Fixed asset investments





Listed investments
Other fixed asset investments
Total

$
$
$



Cost


At 1 February 2023 (as restated)
13,659,323
37,749
13,697,072


Additions
2,324,586
-
2,324,586


Disposals
(1,449,800)
-
(1,449,800)


Foreign exchange revaluations
178,168
-
178,168



At 31 January 2024
14,712,277
37,749
14,750,026





5.


Debtors

2024
2023
$
$


Amounts owed by other related parties
7,734
7,734

Other debtors
-
58

Prepayments and accrued income
140,596
103,263

Deferred taxation
-
147,028

148,330
258,083



6.


Creditors: Amounts falling due within one year

2024
2023
$
$

Trade creditors
2,246
-

Corporation tax
220,544
-

Other creditors
11,551,115
11,786,033

Accruals and deferred income
20,767
18,595

11,794,672
11,804,628


Page 6

 
SPM CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Deferred taxation




2024
2023


$

$






At beginning of year
147,028
-


Charged to profit or loss
(147,028)
147,028



At end of year
-
147,028

The deferred tax asset is made up as follows:

2024
2023
$
$


Losses and other deductions
-
147,028


8.


Prior year adjustment

The comparative figures on the Statement of Income and Retained Earnings and the Balance Sheet have been restated to correct foreign exchange treatment of an investment.


9.


Related party transactions

Transactions with the director
At the year end, the Company owed the director $11,551,115 (2023 - $11,551,115). This amount is unsecured and interest free with no set date for repayment. 
Transactions with an associate
At the year end, the Company was owed $7,734 (2023 - $7,734) from Boltons Place Capital Management Limited, a Company owned by the director.


10.


Controlling party

The ultimate controlling party is S P Morris, by virtue of his shareholding and directorship in the Company.

 
Page 7