Caseware UK (AP4) 2022.0.179 2022.0.179 2024-01-312024-01-312023-02-01truefalseNo description of principal activity1916trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07913145 2023-02-01 2024-01-31 07913145 2022-02-01 2023-01-31 07913145 2024-01-31 07913145 2023-01-31 07913145 c:Director1 2023-02-01 2024-01-31 07913145 d:PlantMachinery 2023-02-01 2024-01-31 07913145 d:PlantMachinery 2024-01-31 07913145 d:PlantMachinery 2023-01-31 07913145 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07913145 d:FurnitureFittings 2023-02-01 2024-01-31 07913145 d:FurnitureFittings 2024-01-31 07913145 d:FurnitureFittings 2023-01-31 07913145 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07913145 d:ComputerEquipment 2023-02-01 2024-01-31 07913145 d:ComputerEquipment 2024-01-31 07913145 d:ComputerEquipment 2023-01-31 07913145 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07913145 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07913145 d:CurrentFinancialInstruments 2024-01-31 07913145 d:CurrentFinancialInstruments 2023-01-31 07913145 d:Non-currentFinancialInstruments 2024-01-31 07913145 d:Non-currentFinancialInstruments 2023-01-31 07913145 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 07913145 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07913145 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 07913145 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 07913145 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 07913145 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 07913145 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 07913145 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 07913145 d:UKTax 2023-02-01 2024-01-31 07913145 d:UKTax 2022-02-01 2023-01-31 07913145 d:ShareCapital 2024-01-31 07913145 d:ShareCapital 2023-01-31 07913145 d:RetainedEarningsAccumulatedLosses 2024-01-31 07913145 d:RetainedEarningsAccumulatedLosses 2023-01-31 07913145 c:FRS102 2023-02-01 2024-01-31 07913145 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07913145 c:FullAccounts 2023-02-01 2024-01-31 07913145 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07913145 2 2023-02-01 2024-01-31 07913145 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 07913145 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 07913145









HEIRS OF SANPA LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
HEIRS OF SANPA LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HEIRS OF SANPA LTD
FOR THE YEAR ENDED 31 JANUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Heirs of Sanpa Ltd for the year ended 31 January 2024 which comprise 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 Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Heirs of Sanpa Ltd in accordance with the terms of our engagement letter dated 13th April 2012Our work has been undertaken solely to prepare for your approval the financial statements of Heirs of Sanpa Ltd  and state those matters that we have agreed to state to the director of Heirs of Sanpa Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heirs of Sanpa Ltd and its director for our work or for this report. 

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

We have not been instructed to carry out an audit or review of the financial statements of Heirs of Sanpa 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 financial statements.

  





The Wiggin Partnership Ltd
 
Chartered Accountants
  
31 October 2024
Page 1

 
HEIRS OF SANPA LTD
REGISTERED NUMBER: 07913145

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
12,486
14,120

  
12,486
14,120

Current assets
  

Stocks
  
35,000
35,000

Debtors: amounts falling due within one year
 6 
58,602
46,645

Cash at bank and in hand
 7 
43,336
51,455

  
136,938
133,100

Creditors: amounts falling due within one year
 8 
(116,913)
(80,300)

Net current assets
  
 
 
20,025
 
 
52,800

Total assets less current liabilities
  
32,511
66,920

Creditors: amounts falling due after more than one year
 9 
(25,299)
(30,994)

Provisions for liabilities
  

Deferred tax
 11 
(2,372)
(2,682)

  
 
 
(2,372)
 
 
(2,682)

Net assets
  
4,840
33,244


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
4,839
33,243

  
4,840
33,244


Page 2

 
HEIRS OF SANPA LTD
REGISTERED NUMBER: 07913145
    
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 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 profit and loss account 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 31 October 2024.




................................................
Mr E Sanchez-Escribano
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
HEIRS OF SANPA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Heirs of Sanpa Ltd, a company limited by shares, is incorporated and domiciled in England and Wales, and has its registered office and principal place of business at 37 - 41 Denmark Street, Wokigham, Berkshire, RG40 2AY.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 4

 
HEIRS OF SANPA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
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.

 
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.

Page 5

 
HEIRS OF SANPA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Computer equipment
-
25% reducing balance

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.

Page 6

 
HEIRS OF SANPA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 16).

Page 7

 
HEIRS OF SANPA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
7,721
5,971


7,721
5,971


Total current tax
7,721
5,971

Deferred tax


Origination and reversal of timing differences
(311)
56

Total deferred tax
(311)
56


Taxation on profit on ordinary activities
7,410
6,027

Factors affecting tax charge for the year

The tax assessed for the year is the same as (2023 - the same as) the standard rate of corporation tax in the UK of 19% (2023 - 19%) as set out below:

2024
2023
£
£


Profit on ordinary activities before tax
10,006
28,386


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2023 - 19%)
1,901
5,393

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
738
880

Capital allowances for year in excess of depreciation
311
56

Short term timing difference leading to an increase (decrease) in taxation
(311)
(56)

Other differences leading to an increase (decrease) in the tax charge
4,771
(246)

Total tax charge for the year
7,410
6,027

Page 8

 
HEIRS OF SANPA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
 
4.Taxation (continued)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2023
27,964
11,507
9,696
49,167


Additions
149
1,137
828
2,114



At 31 January 2024

28,113
12,644
10,524
51,281



Depreciation


At 1 February 2023
21,660
6,328
7,058
35,046


Charge for the year on owned assets
1,579
1,416
754
3,749



At 31 January 2024

23,239
7,744
7,812
38,795



Net book value



At 31 January 2024
4,874
4,900
2,712
12,486



At 31 January 2023
6,304
5,179
2,637
14,120


6.


Debtors

2024
2023
£
£


Trade debtors
-
2

Other debtors
58,602
46,643

58,602
46,645


Page 9

 
HEIRS OF SANPA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
43,336
51,456

43,336
51,456



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
9,882
9,741

Trade creditors
764
(8,147)

Corporation tax
46,423
38,703

Other taxation and social security
31,205
15,832

Other creditors
13,194
10,378

Accruals and deferred income
15,445
13,793

116,913
80,300



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
25,299
30,994

25,299
30,994


Page 10

 
HEIRS OF SANPA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,882
9,741


9,882
9,741

Amounts falling due 1-2 years

Bank loans
15,417
21,007


15,417
21,007

Amounts falling due 2-5 years

Bank loans
9,882
9,987


9,882
9,987


35,181
40,735



11.


Deferred taxation




2024


£






At beginning of year
(2,683)


Charged to profit or loss
311



At end of year
(2,372)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(2,372)
(2,683)

(2,372)
(2,683)

Page 11

 
HEIRS OF SANPA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,495 (2023 - £3,858). Contributions totalling £580 (2023 - £679) were payable to the fund at the balance sheet date and are included in creditors.


13.


Transactions with directors and owners holding a participating interest in the company

IDuring the year the company made the following advances to Mr E Sanchez a director: Other advances of £62,549 were made during the year. Repayments of £52,518 were made during the year. The maximum balance outstanding during the year was £61,548 and the balance included within debtors at the year end is £46,100 (2023 - £34,142) due from the director. The loan is repayable on demand and interest has been charged at an average of 2% per annum.

 
Page 12