Acorah Software Products - Accounts Production 16.1.300 false true true 31 December 2023 1 January 2023 false 12 March 2025 1 January 2024 31 December 2024 31 December 2024 04506121 Mr M A Nice Mr A D Whiting Ms L K Mendelsohn Mr M R Linder Oakwood Corporate Secretary Limited Sorb AB Verkmastaregatan1, SE-745 85 Enkoping, Sweden true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04506121 2023-12-31 04506121 2024-12-31 04506121 2024-01-01 2024-12-31 04506121 frs-core:CurrentFinancialInstruments 2024-12-31 04506121 frs-core:ComputerEquipment 2024-12-31 04506121 frs-core:ComputerEquipment 2024-01-01 2024-12-31 04506121 frs-core:ComputerEquipment 2023-12-31 04506121 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 04506121 frs-core:FurnitureFittings 2024-12-31 04506121 frs-core:FurnitureFittings 2024-01-01 2024-12-31 04506121 frs-core:FurnitureFittings 2023-12-31 04506121 frs-core:MotorVehicles 2024-12-31 04506121 frs-core:MotorVehicles 2024-01-01 2024-12-31 04506121 frs-core:MotorVehicles 2023-12-31 04506121 frs-core:OtherResidualIntangibleAssets 2024-12-31 04506121 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 04506121 frs-core:OtherResidualIntangibleAssets 2023-12-31 04506121 frs-core:PlantMachinery 2024-12-31 04506121 frs-core:PlantMachinery 2024-01-01 2024-12-31 04506121 frs-core:PlantMachinery 2023-12-31 04506121 frs-core:CapitalRedemptionReserve 2024-12-31 04506121 frs-core:ShareCapital 2024-12-31 04506121 frs-core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 04506121 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 04506121 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04506121 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 04506121 frs-bus:SmallEntities 2024-01-01 2024-12-31 04506121 frs-bus:Audited 2024-01-01 2024-12-31 04506121 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04506121 frs-bus:OrdinaryShareClass3 2024-01-01 2024-12-31 04506121 frs-bus:OrdinaryShareClass3 2024-12-31 04506121 frs-bus:PreferenceShareClass3 2024-01-01 2024-12-31 04506121 frs-bus:PreferenceShareClass3 2024-12-31 04506121 1 2024-01-01 2024-12-31 04506121 frs-bus:Director1 2024-01-01 2024-12-31 04506121 frs-bus:Director2 2024-01-01 2024-12-31 04506121 frs-bus:Director3 2024-01-01 2024-12-31 04506121 frs-bus:Director4 2024-01-01 2024-12-31 04506121 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 04506121 frs-countries:EnglandWales 2024-01-01 2024-12-31 04506121 2022-12-31 04506121 2023-12-31 04506121 2023-01-01 2023-12-31 04506121 frs-core:CurrentFinancialInstruments 2023-12-31 04506121 frs-core:CapitalRedemptionReserve 2022-12-31 04506121 frs-core:CapitalRedemptionReserve 2023-12-31 04506121 frs-core:ShareCapital 2022-12-31 04506121 frs-core:ShareCapital 2023-12-31 04506121 frs-core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 04506121 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-12-31 04506121 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04506121 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31 04506121 frs-bus:PreferenceShareClass3 2023-01-01 2023-12-31
Registered number: 04506121
Spinaclean Ltd
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—7
Page 1
Balance Sheet
Registered number: 04506121
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 13,111 14,078
Tangible Assets 5 111,614 112,315
124,725 126,393
CURRENT ASSETS
Stocks 6 968,661 949,194
Debtors 7 1,146,871 850,442
Cash at bank and in hand 6,034,347 4,905,579
8,149,879 6,705,215
Creditors: Amounts Falling Due Within One Year 8 (575,091 ) (498,615 )
NET CURRENT ASSETS (LIABILITIES) 7,574,788 6,206,600
TOTAL ASSETS LESS CURRENT LIABILITIES 7,699,513 6,332,993
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,505 ) (11,697 )
NET ASSETS 7,687,008 6,321,296
CAPITAL AND RESERVES
Called up share capital 9 667 667
Capital redemption reserve 333 333
Profit and Loss Account 7,686,008 6,320,296
SHAREHOLDERS' FUNDS 7,687,008 6,321,296
Page 1
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M A Nice
Director
12 March 2025
The notes on pages 4 to 7 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Capital Redemption Profit and Loss Account Total
£ £ £ £
As at 1 January 2023 667 333 5,078,198 5,079,198
Profit for the year and total comprehensive income - - 2,242,098 2,242,098
Dividends paid - - (1,000,000) (1,000,000)
As at 31 December 2023 and 1 January 2024 667 333 6,320,296 6,321,296
Profit for the year and total comprehensive income - - 2,665,712 2,665,712
Dividends paid - - (1,300,000) (1,300,000)
As at 31 December 2024 667 333 7,686,008 7,687,008
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Notes to the Financial Statements
1. General Information
Spinaclean Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04506121 . The registered office is 3rd Floor 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. Significant judgements and estimations
In the application of the Group's accounting policies, which are described in note 1, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical judgements in applying the Group's accounting policies.
The directors do not consider there to be any critical accounting judgements that must be applied. Key accounting estimates and assumptions.
The directors consider stock obsolence at the year end as a key accounting estimate. See the stock accounting policy note.
The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal
the related actual results. The directors do not consider there to be any estimates assumptions that have a significant risk of causing a
material adjustment to the carrying amounts of assets and liabilities within the next financial year.
2.4. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are patents. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Straight line
2.7. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.8. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.9. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.10. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.11. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2023: 24)
28 24
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 17,598
Additions 880
As at 31 December 2024 18,478
Amortisation
As at 1 January 2024 3,520
Provided during the period 1,847
As at 31 December 2024 5,367
Net Book Value
As at 31 December 2024 13,111
As at 1 January 2024 14,078
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 110,742 75,340 30,679 25,346 242,107
Additions 34,523 - 1,769 5,035 41,327
Disposals - - - (6,262 ) (6,262 )
As at 31 December 2024 145,265 75,340 32,448 24,119 277,172
Depreciation
As at 1 January 2024 58,333 35,143 22,428 13,888 129,792
Provided during the period 24,273 10,050 2,320 5,385 42,028
Disposals - - - (6,262 ) (6,262 )
As at 31 December 2024 82,606 45,193 24,748 13,011 165,558
Net Book Value
As at 31 December 2024 62,659 30,147 7,700 11,108 111,614
As at 1 January 2024 52,409 40,197 8,251 11,458 112,315
6. Stocks
2024 2023
£ £
Stock 1,043,751 1,022,910
Stock provision (75,090 ) (73,716 )
968,661 949,194
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 828,013 696,163
Other debtors 318,858 154,279
1,146,871 850,442
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 151,832 101,323
Other creditors 99,541 65,788
Taxation and social security 323,718 331,504
575,091 498,615
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9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
6,670 Ordinary B shares of £ 0.01 each 67 67
Preference Shares
2024 2023
Allotted, called up and fully paid £ £
60,030 Preference B shares of £ 0.01 each 600 600
10. Other Commitments
The company has future operating lease commitments of £311,946 (2023 - £418,999)
11. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
12. Ultimate Parent Undertaking and Controlling Party
The company's immediate  parent undertaking is Sorb AB , who controls 90% shares in Spinaclean Limited. Sorb AB is incorporated in Sweden. The most senior parent entity producing publicly available financial statements is Carl Bennet AB. Copies of the group accounts may be obtained from the secretary, Verkmastaregatan1, SE-745 85 Enkoping, Sweden
The ultimate controlling party is Carl Bennett.
13. Audit Information
The auditor's report on the accounts of Spinaclean Ltd for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Mr K R Witchell (Senior Statutory Auditor) for and on behalf of KRW Accountants Limited , Statutory Auditor.
KRW Accountants Limited
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS
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