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Registered number: 02842578









Sapplicator Limited









Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2024

 
Sapplicator Limited
 
 
Company Information


Directors
J Wheeldon 
P Hardwick 




Company secretary
Legal Clarity Limited



Registered number
02842578



Registered office
Unit 6 Littler's Point
Second Avenue Trafford Park

Manchester

M17 1LT




Independent auditors
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors

3 Stockport Exchange

Railway Road

Stockport

SK1 3GG





 
Sapplicator Limited
 

Contents



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 8


 
Sapplicator Limited
Registered number: 02842578

Balance Sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,017
7,233

Investments
  
100
100

  
4,117
7,333

Current assets
  

Stocks
  
118,820
166,476

Debtors
  
524,060
623,800

Cash at bank and in hand
  
173,865
48,364

  
816,745
838,640

Creditors: amounts falling due within one year
  
(628,116)
(600,245)

Net current assets
  
 
 
188,629
 
 
238,395

Total assets less current liabilities
  
192,746
245,728

Provisions for liabilities
  
(645)
(1,366)

Net assets
  
192,101
244,362


Capital and reserves
  

Called up share capital 
  
9,393
9,393

Profit and loss account
  
182,708
234,969

  
192,101
244,362


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 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: 

P Hardwick
Director

Date: 30 January 2025

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
Sapplicator Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

1.


General information

Sapplicator Limited is a private company limited by shares and incorporated in England. The address of the registered office and principal place of business is Unit 6 Littler's Point, Second Avenue, Trafford Park, Manchester, M17 1LT.  The company's registered number is 02842578.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. 
The Company is meeting its working capital requirements through its cash balances and shareholder loans. Based on the Company's forecasts and projections, the directors believe they have sufficient facilities to trade through the next twelve months.
The directors believe it is appropriate, therefore, to prepare the financial statements to 30 June 2024 on a going concern basis and the Company will remain solvent in the twelve months after the date of approval of the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Page 2

 
Sapplicator Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
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 3

 
Sapplicator Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 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, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
over life of lease
Other fixed assets
-
25-33% straight line

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.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
Sapplicator Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

 
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 5 (2023 -5).

Page 5

 
Sapplicator Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

4.


Tangible fixed assets





Leasehold improvements
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 July 2023
5,500
48,804
54,304


Additions
-
626
626


Disposals
-
(1,596)
(1,596)



At 30 June 2024

5,500
47,834
53,334



Depreciation


At 1 July 2023
5,500
41,571
47,071


Charge for the year on owned assets
-
3,842
3,842


Disposals
-
(1,596)
(1,596)



At 30 June 2024

5,500
43,817
49,317



Net book value



At 30 June 2024
-
4,017
4,017



At 30 June 2023
-
7,233
7,233

Page 6

 
Sapplicator Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

5.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 July 2023
17,000
100
17,100



At 30 June 2024

17,000
100
17,100



Impairment


At 1 July 2023
17,000
-
17,000



At 30 June 2024

17,000
-
17,000



Net book value



At 30 June 2024
-
100
100



At 30 June 2023
-
100
100


Subsidiary undertakings

As at the balance sheet date, the Company held 100% of the Ordinary share capital of Sapplicator GmbH, a company incorporated in Germany. The principal activity of Sapplicator GmbH was super-absorbent polymer handling equipment and solutions.
The aggregate of the share capital and reserves as at 30 June 2024 and of the profit or loss for the year ended on that date for the subsidiary undertaking were as follows: 


Aggregate of share capital and reserves
Profit/(loss)

Sapplicator GmbH
(133,718)
(27,037)

Sapplicator GmbH was liqudated and struck off on 30 November 2024. All intercompany balances were waived.
 





Page 7

 
Sapplicator Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

6.Financial commitments and contingencies

The company has future operating lease commitments of £79,758 (2023: £20,208).


7.


Post balance sheet events

The company’s German subsidiary, Sapplicator GmbH, was closed with effect from 30 June 2024 and liquidated on 30 November 2024.



8.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 30 January 2025 by Anthony Woodings (Senior Statutory Auditor) on behalf of Hurst Accountants Limited.

 
Page 8