Registration number:
Spoormaker & Partners UK Ltd
for the Year Ended 29 February 2024
Pages for filing with Registrar
Spoormaker & Partners UK Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Spoormaker & Partners UK Ltd
Company Information
Directors |
J Ferreira D Killingworth |
Registered office |
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Registered number |
12133626 |
Auditor |
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Spoormaker & Partners UK Ltd
(Registration number: 12133626)
Balance Sheet as at 29 February 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
3,178 |
|
Current assets |
|||
Debtors |
|
75,556 |
|
Cash at bank and in hand |
|
68,377 |
|
130,846 |
143,933 |
||
Creditors: Amounts falling due within one year |
(419,926) |
(356,870) |
|
Net current liabilities |
( |
(212,937) |
|
Net liabilities |
( |
(209,759) |
|
Capital and reserves |
|||
Called up share capital |
|
100 |
|
Profit and loss account |
( |
(209,859) |
|
Total equity |
( |
(209,759) |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
Director
Spoormaker & Partners UK Ltd
Notes to the Financial Statements for the Year Ended 29 February 2024
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
The principal place of business is:
Alpha House
100 Borough High Street
London
SE1 1LB
Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Prior year adjustment
The profit and loss account for the year ended 28 February 2023 has been restated from the version reported last year. Salary costs of £166,374 have been reclassified from administrative expenses to cost of sales and therefore the gross profit has been reduced by that same amount. This change in classification - to reflect more accurately the nature of the underlying costs - is only presentational and there is no impact on the net result in the profit and loss account.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Spoormaker & Partners UK Ltd
Notes to the Financial Statements for the Year Ended 29 February 2024
Going concern
The directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis. This assessment takes into account the possibility of the parent company, Spoormaker & Partners (Pty) Ltd, continuing to provide financial support during that period. The parent company has confirmed its intention to continue to make available such funds as are needed by the Company for the period of at least 12 months from the date of approval of the financial statements. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
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.
Tax
Taxation for the year 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.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Spoormaker & Partners UK Ltd
Notes to the Financial Statements for the Year Ended 29 February 2024
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Tangible fixed assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:
Plant and machinery |
25% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Spoormaker & Partners UK Ltd
Notes to the Financial Statements for the Year Ended 29 February 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
Financial instruments
Basic financial instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any other financial instruments as covered by section 12 of FRS102.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Spoormaker & Partners UK Ltd
Notes to the Financial Statements for the Year Ended 29 February 2024
Tangible fixed assets |
Plant and machinery |
|
Cost |
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At 1 March 2023 |
|
Additions |
|
At 29 February 2024 |
|
Depreciation |
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At 1 March 2023 |
|
Charge for the year |
|
At 29 February 2024 |
|
Carrying amount |
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At 29 February 2024 |
|
At 28 February 2023 |
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Spoormaker & Partners UK Ltd
Notes to the Financial Statements for the Year Ended 29 February 2024
Debtors: amounts falling due within one year |
2024 |
2023 |
|
Trade debtors |
47,419 |
44,125 |
Prepayments and accrued income |
36,878 |
31,261 |
Other debtors |
|
170 |
Corporation tax |
32,991 |
- |
|
75,556 |
Creditors |
2024 |
2023 |
|
Amounts falling due within one year |
||
Trade creditors |
|
20,177 |
Amounts owed to group undertakings |
|
302,265 |
Taxation and social security |
|
20,852 |
Other creditors |
|
13,576 |
Directors' loan accounts |
9,500 |
- |
419,926 |
356,870 |
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Spoormaker & Partners UK Ltd
Notes to the Financial Statements for the Year Ended 29 February 2024
Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
|
Directors' loan accounts |
|
- |
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
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Not later than one year |
|
|
Ultimate parent company |
The ultimate parent company is Spoormaker & Partners (Pty) Ltd, incorporated in South Africa, by virtue of its 100% shareholding. Spoormaker & Partners (Pty) Ltd's registered office is 1282 South Street, Centurion Central, Centurion, 0046, South Africa.
Audit report |
As the profit and loss account has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
•
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• The auditor was