REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
18 NOVEMBER 2022 TO 31 DECEMBER 2023 |
FOR |
SPECTRUM EQUITY MANAGEMENT UK, LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
18 NOVEMBER 2022 TO 31 DECEMBER 2023 |
FOR |
SPECTRUM EQUITY MANAGEMENT UK, LTD |
SPECTRUM EQUITY MANAGEMENT UK, LTD (REGISTERED NUMBER: 14493684) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 18 NOVEMBER 2022 TO 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SPECTRUM EQUITY MANAGEMENT UK, LTD |
COMPANY INFORMATION |
FOR THE PERIOD 18 NOVEMBER 2022 TO 31 DECEMBER 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Senior statutory auditor: |
Auditors: |
Chartered Accountants and Statutory Auditors |
12 Old Mills Industrial Estate |
Paulton |
BS39 7SU |
SPECTRUM EQUITY MANAGEMENT UK, LTD (REGISTERED NUMBER: 14493684) |
BALANCE SHEET |
31 DECEMBER 2023 |
Notes | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SPECTRUM EQUITY MANAGEMENT UK, LTD (REGISTERED NUMBER: 14493684) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 18 NOVEMBER 2022 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Spectrum Equity Management UK, Ltd is a |
The company's functional and presentational currency is pounds sterling (GBP) and the financial statements are rounded to the nearest pound (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Investments in subsidiaries |
Investments in subsidiaries are measured at cost less accumulated impairment. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with 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 the liability simultaneously. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
SPECTRUM EQUITY MANAGEMENT UK, LTD (REGISTERED NUMBER: 14493684) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 NOVEMBER 2022 TO 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The accompanying financial statements have been prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', under the assumption that the Company will continue as a going concern. This assumption reflects management's belief that the Company will be able to continue its operations and meet its obligations as they come due for at least the next twelve months. |
The Company is part of a larger corporate group, which has consistently provided strategic guidance and operational management. This close integration within the group has allowed the Company to maintain its business activities and address its financial needs effectively. |
Management's confidence in the Company's ability to continue as a going concern is also supported by its historical performance and ongoing operational strategies. These efforts are expected to strengthen the Company's liquidity and financial stability in the near term. |
Based on these considerations, management has concluded that there are no substantial doubts regarding the Company's ability to continue as a going concern for the foreseeable future. Accordingly, the consolidated financial statements do not include any adjustments that might be necessary if the Company were unable to continue as a going concern. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
Cost |
Additions |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | 1 | 1 |
SPECTRUM EQUITY MANAGEMENT UK, LTD (REGISTERED NUMBER: 14493684) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 NOVEMBER 2022 TO 31 DECEMBER 2023 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | ULTIMATE CONTROLLING PARENT |
The company is a wholly owned subsidiary of Spectrum Equity Management, LP a limited partnership formed under the laws of Delaware, USA. The ultimate parent company is considered to be Spectrum Management GP LLC, a company formed under the laws of Delaware, USA. |