Caseware UK (AP4) 2023.0.135 2023.0.135 falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.0false02023-07-01No description of principal activitytruefalse 10219258 2023-07-01 2024-06-30 10219258 2022-07-01 2023-06-30 10219258 2024-06-30 10219258 2023-06-30 10219258 c:Director1 2023-07-01 2024-06-30 10219258 d:FreeholdInvestmentProperty 2024-06-30 10219258 d:FreeholdInvestmentProperty 2023-06-30 10219258 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 10219258 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10219258 d:ShareCapital 2024-06-30 10219258 d:ShareCapital 2023-06-30 10219258 d:RetainedEarningsAccumulatedLosses 2024-06-30 10219258 d:RetainedEarningsAccumulatedLosses 2023-06-30 10219258 c:FRS102 2023-07-01 2024-06-30 10219258 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10219258 c:FullAccounts 2023-07-01 2024-06-30 10219258 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10219258 6 2023-07-01 2024-06-30 10219258 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 10219258










FASTSPRING LTD








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2024

 
FASTSPRING LTD
Registered number: 10219258

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
866
866

Investment property
 5 
708,329
708,329

  
709,195
709,195

Current assets
  

Debtors
  
1,329
24,111

Cash at bank and in hand
  
102,426
70,155

  
103,755
94,266

Creditors: amounts falling due within one year
  
(711,444)
(702,818)

Net current liabilities
  
 
 
(607,689)
 
 
(608,552)

Total assets less current liabilities
  
101,506
100,643

  

Net assets
  
101,506
100,643


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
101,504
100,641

  
101,506
100,643


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 on 18 March 2025.


Page 1

 
FASTSPRING LTD
Registered number: 10219258
    
Balance sheet (continued)
As at 30 June 2024



N Vogiel
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
FASTSPRING LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

1.


General information

Fastspring Ltd is a private company, limited by shares, registered in England and Wales. The registered address is Rear Entrance 123 Clapton Common, London, E5 9AB.

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

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.

 
2.3

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 balance sheet date in the countries where the Company operates and generates income.


 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 
FASTSPRING LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
866



At 30 June 2024
866




Page 4

 
FASTSPRING LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
708,329



At 30 June 2024
708,329

The 2024 valuations were made by the director, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
708,329
708,329

708,329
708,329

 
Page 5