Spark Limited 03538276 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Other research and experimental development on natural sciences and engineering, Other professional scientiifc and technical acitivties not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true true 03538276 2023-06-01 2024-05-31 03538276 2024-05-31 03538276 core:RetainedEarningsAccumulatedLosses 2024-05-31 03538276 core:ShareCapital 2024-05-31 03538276 core:CurrentFinancialInstruments 2024-05-31 03538276 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 03538276 core:FurnitureFittingsToolsEquipment 2024-05-31 03538276 bus:SmallEntities 2023-06-01 2024-05-31 03538276 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 03538276 bus:FilletedAccounts 2023-06-01 2024-05-31 03538276 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 03538276 bus:RegisteredOffice 2023-06-01 2024-05-31 03538276 bus:Director1 2023-06-01 2024-05-31 03538276 bus:Director2 2023-06-01 2024-05-31 03538276 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03538276 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 03538276 core:OfficeEquipment 2023-06-01 2024-05-31 03538276 countries:EnglandWales 2023-06-01 2024-05-31 03538276 2023-05-31 03538276 core:FurnitureFittingsToolsEquipment 2023-05-31 03538276 2022-06-01 2023-05-31 03538276 2023-05-31 03538276 core:RetainedEarningsAccumulatedLosses 2023-05-31 03538276 core:ShareCapital 2023-05-31 03538276 core:CurrentFinancialInstruments 2023-05-31 03538276 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 03538276 core:FurnitureFittingsToolsEquipment 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 03538276

Spark Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Spark Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Spark Limited

Company Information

Directors

Dr T T Jervis

Mrs C E M Jervis

Registered office

c/o RJS Solicitors
G4-G5 Bellringer Road
Trentham Business Quarter
Stoke On Trent
Staffordshire
ST4 8GB

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Spark Limited

(Registration number: 03538276)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,571

13,267

Current assets

 

Debtors

5

251,983

247,940

Cash at bank and in hand

 

32,883

27,296

 

284,866

275,236

Creditors: Amounts falling due within one year

6

(95,292)

(89,105)

Net current assets

 

189,574

186,131

Net assets

 

198,145

199,398

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

197,145

198,398

Shareholders' funds

 

198,145

199,398

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 February 2025 and signed on its behalf by:
 

.........................................
Dr T T Jervis
Director

   
     
 

Spark Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o RJS Solicitors
G4-G5 Bellringer Road
Trentham Business Quarter
Stoke On Trent
Staffordshire
ST4 8GB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Spark Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible 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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

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 obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Spark Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

35,734

35,734

Additions

2,353

2,353

Disposals

(1,585)

(1,585)

At 31 May 2024

36,502

36,502

Depreciation

At 1 June 2023

22,467

22,467

Charge for the year

6,170

6,170

Eliminated on disposal

(706)

(706)

At 31 May 2024

27,931

27,931

Carrying amount

At 31 May 2024

8,571

8,571

At 31 May 2023

13,267

13,267

5

Debtors

Current

2024
£

2023
£

Amounts owed by related parties

240,185

240,020

Accrued Income

5,498

3,600

Other debtors

6,300

4,320

 

251,983

247,940

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

4,155

2,478

Amounts owed to related parties

87,498

85,375

Taxation and social security

1,831

52

Other creditors

1,808

1,200

95,292

89,105