Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falsefinancial intermediary74falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12436547 2023-12-31 12436547 2023-01-01 2023-12-31 12436547 2022-02-01 2022-12-31 12436547 2022-12-31 12436547 c:Director1 2023-01-01 2023-12-31 12436547 d:ComputerEquipment 2023-01-01 2023-12-31 12436547 d:ComputerEquipment 2023-12-31 12436547 d:ComputerEquipment 2022-12-31 12436547 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12436547 d:CurrentFinancialInstruments 2023-12-31 12436547 d:CurrentFinancialInstruments 2022-12-31 12436547 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12436547 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12436547 d:ShareCapital 2023-12-31 12436547 d:ShareCapital 2022-12-31 12436547 d:RetainedEarningsAccumulatedLosses 2023-12-31 12436547 d:RetainedEarningsAccumulatedLosses 2022-12-31 12436547 c:FRS102 2023-01-01 2023-12-31 12436547 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12436547 c:FullAccounts 2023-01-01 2023-12-31 12436547 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12436547 6 2023-01-01 2023-12-31 12436547 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 12436547










SPARTAN ADVISORS EMEA LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SPARTAN ADVISORS EMEA LTD
REGISTERED NUMBER: 12436547

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
                                                                         Note
£
£

Fixed assets
  

Tangible assets
 4 
3,215
-

Investments
 5 
220
220

  
3,435
220

Current assets
  

Debtors: amounts falling due within one year
 6 
131,556
132,854

Cash at bank and in hand
 7 
87,315
16,591

  
218,871
149,445

Creditors: amounts falling due within one year
 8 
(163,403)
(363,544)

Net current assets/(liabilities)
  
 
 
55,468
 
 
(214,099)

  

Net assets/(liabilities)
  
58,903
(213,879)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
58,803
(213,979)

  
58,903
(213,879)


Page 1

 
SPARTAN ADVISORS EMEA LTD
REGISTERED NUMBER: 12436547
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider 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 directors acknowledge their 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 statement of comprehensive income 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: 




B Clarke
Director

Date: 4 March 2025

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
SPARTAN ADVISORS EMEA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Spartan Advisors EMEA Ltd is a private company limited by shares and registered in England and Wales. The Company's registered number is 12436547 and its registered office address is 42 Brook Street, London W1K 5BD.
The principal activity of the Company is that of a financial intermediary.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis which, inter alia, is based on the directors’ reasonable expectation that the Company has adequate resources to continue to operate as a going concern for at least twelve months from the date of their approval.
In making the assessment of the appropriateness of this basis, the directors have considered the trading of the Company since the year end and the facilities that are either committed to the Company for a period of at least twelve months from the date of approval of the financial statements or which they consider will probably be available to the Company during such period.
After careful consideration, the directors consider that they have reasonable grounds to believe that the Company can be regarded as a going concern and, for this reason, they continue to adopt the going concern basis in preparing the Company’s 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 and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
SPARTAN ADVISORS EMEA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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:

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.

 
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

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

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 reporting date in the countries where the Company operates and generates income.

Page 4

 
SPARTAN ADVISORS EMEA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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:

Computer equipment
-
3 year 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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position 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.
Page 5

 
SPARTAN ADVISORS EMEA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are
Page 6

 
SPARTAN ADVISORS EMEA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees



The average monthly number of employees, including directors, during the year was 7 (2022 - 4).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
3,494



At 31 December 2023

3,494



Depreciation


Charge for the year
279



At 31 December 2023

279



Net book value



At 31 December 2023
3,215



At 31 December 2022
-

Page 7

 
SPARTAN ADVISORS EMEA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
220



At 31 December 2023
220





6.


Debtors

2023
2022
£
£


Trade debtors
33,834
57,008

Amounts owed by group undertakings
71,811
63,851

Other debtors
21,775
7,560

Prepayments
4,136
4,435

131,556
132,854



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
87,315
16,591



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
28,430
167,231

Corporation tax
19,320
-

Other taxation and social security
104,174
186,076

Other creditors
1,029
1,026

Accruals
10,450
9,211

163,403
363,544


Page 8

 
SPARTAN ADVISORS EMEA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


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 £12,839 (2022 - £879). Contributions totalling £1,027 (2022 - £1,026) were payable to the fund at the reporting date and are included in creditors.


10.


Controlling party

The Company's immediate parent company is Spartan Advisors LLC.
The ultimate controlling party is B Clarke.

Page 9