1 1 Spire Technologies Ltd 10046017 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Information technology consultancy activities. Digita Accounts Production Advanced 6.30.9574.0 true true 10046017 2023-04-01 2024-03-31 10046017 2024-03-31 10046017 bus:OrdinaryShareClass1 2024-03-31 10046017 bus:OrdinaryShareClass2 2024-03-31 10046017 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10046017 core:FurnitureFittingsToolsEquipment 2024-03-31 10046017 bus:SmallEntities 2023-04-01 2024-03-31 10046017 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10046017 bus:FilletedAccounts 2023-04-01 2024-03-31 10046017 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10046017 bus:RegisteredOffice 2023-04-01 2024-03-31 10046017 bus:Director1 2023-04-01 2024-03-31 10046017 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10046017 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 10046017 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10046017 bus:Agent1 2023-04-01 2024-03-31 10046017 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 10046017 countries:AllCountries 2023-04-01 2024-03-31 10046017 2023-03-31 10046017 core:FurnitureFittingsToolsEquipment 2023-03-31 10046017 2022-04-01 2023-03-31 10046017 2023-03-31 10046017 bus:OrdinaryShareClass1 2023-03-31 10046017 bus:OrdinaryShareClass2 2023-03-31 10046017 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10046017 core:FurnitureFittingsToolsEquipment 2023-03-31 10046017 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 10046017 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 10046017

Spire Technologies Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Spire Technologies Ltd

Contents

Company Information

1

Profit and Loss Account

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

Detailed Profit and Loss Account

9 to 10

 

Spire Technologies Ltd

Company Information

Director

Mr RAGHU PEDABBA RAMANUJAM

Registered office

The Long Lodge
265-269 Kingston Road
Wimbledon
London
SW19 3NW

Accountants

TAX LINK (CTA) LIMITED
Chartered Accountants & Tax AdvisorsThe Long Lodge 265-269 Kingston Road
Wimbledon
London
Wimbledon
SW19 3NW

 

Spire Technologies Ltd

Profit and Loss Account for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

 

118,798

110,892

Gross profit

 

118,798

110,892

Administrative expenses

 

(18,197)

(20,582)

Operating profit

 

100,601

90,310

Profit before tax

100,601

90,310

Tax on profit

 

(23,156)

(17,277)

Profit for the financial year

 

77,445

73,033

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Spire Technologies Ltd

(Registration number: 10046017)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

637

850

Current assets

 

Cash at bank and in hand

 

164,643

116,483

Creditors: Amounts falling due within one year

6

(38,660)

(29,757)

Net current assets

 

125,983

86,726

Net assets

 

126,620

87,576

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

126,618

87,574

Shareholders' funds

 

126,620

87,576

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

Director's 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 director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 March 2025
 

.........................................
Mr RAGHU PEDABBA RAMANUJAM
Director

 

Spire Technologies Ltd

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

1

General information

The address of its registered office is:
The Long Lodge
265-269 Kingston Road
Wimbledon
London
SW19 3NW
United Kingdom

These financial statements were authorised for issue by the director on 24 March 2025.

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

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.

 

Spire Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:

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 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 the director) during the year, was 1 (2023 - 1).

 

Spire Technologies Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

2,191

2,191

At 31 March 2024

2,191

2,191

Depreciation

At 1 April 2023

1,341

1,341

Charge for the year

213

213

At 31 March 2024

1,554

1,554

Carrying amount

At 31 March 2024

637

637

At 31 March 2023

850

850

5

Debtors

Current

2024
£

2023
£

 

-

-

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

37,273

24,911

Other creditors

1,387

4,846

38,660

29,757

7

Share capital

Allotted, called up and fully paid shares

 

Spire Technologies Ltd

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

2024

2023

No.

£

No.

£

A Ordinary of £1 each

1

1

1

1

B Ordinary of £1 each

1

1

1

1

2

2

2

2

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £37,400.00 (2023 - £37,700.00) per each A Ordinary

37,400

37,700

Interim dividend of £1,000.00 (2023 - £2,000.00) per each B Ordinary

1,000

2,000

38,400

39,700

9

Related party transactions

 

Spire Technologies Ltd

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

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,247

 

Spire Technologies Ltd

Detailed Profit and Loss Account for the Year Ended 31 March 2024

2024
 £

2023
 £

turnover

118,798

110,892

Gross profit (%)

100%

100%

Administrative expenses

Employment costs

13,049

12,532

Establishment costs

2,143

2,143

General administrative expenses

2,793

5,624

Depreciation costs

212

283

18,197

20,582

Operating profit

100,601

90,310

Profit before tax

100,601

90,310

 

Spire Technologies Ltd

Detailed Profit and Loss Account for the Year Ended 31 March 2024

2024
£

2023
£

   

Turnover

Rendering of services, UK

118,798

110,892

   

Employment costs

Directors remuneration

12,570

12,247

Directors NIC (Employers)

479

285

13,049

12,532

   

Establishment costs

Use of home as office

2,143

2,143

   

General administrative expenses

Travel and subsistence

213

1,813

Staff entertaining (allowable for tax)

130

150

Accountancy fees

1,188

1,152

Surcharge & Interest

544

2,168

Penalties

718

341

2,793

5,624

   

Depreciation costs

Depreciation of office equipment (owned)

212

283