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Spryker Systems Ltd

Registered number: 12229516
Annual Report
For the year ended 31 December 2023

 
SPRYKER SYSTEMS LTD
 
 
COMPANY INFORMATION


Director
Boris Lokschin 




Registered number
12229516



Registered office
Fifth Floor, Suite 23
63/66 Hatton Garden

London

EC1N 8LE




Independent auditors
Pricewaterhouse Coopers LLP
Chartered Accountants & Statutory Auditor

1 Embankment Place

London

WC2N 6RH





 
SPRYKER SYSTEMS LTD
 

CONTENTS



Page
Director's report
 
1 - 2
Independent auditors' report
 
3 - 6
Statement of comprehensive income
 
7
Statement of financial position
 
8
Statement of changes in equity
 
9
Notes to the financial statements
 
10 - 16

 
SPRYKER SYSTEMS LTD
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The director presents his report and the audited financial statements for the year ended 31 December 2023.

Principal activities

The principal activity of the company is providing services to its parent company in respect of IT software developments.

Director

The director who served during the year and to the date of the report was:

Boris Lokschin 

Director's responsibilities statement

The director is responsible for preparing the Director's report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the director is required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
 
Going concern

The company is a subsidiary undertaking of Spryker Systems GmbH a company incorporated in Germany. Spryker Systems Ltd is dependent on the continuing financial support of Spryker Systems GmbH to operate as a going concern and the director has obtained written confirmation from the parent company that it will provide or procure such funds as are necessary to enable the company to settle all external liabilities as they fall due for at least a period of twelve months from the date of the approval of these financial statements. The company has net assets of £488,744 in comparison to net assets of £364,513 in the prior year.

- 1 -

 
SPRYKER SYSTEMS LTD
 
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023

Economic impact of global events

UK businesses are facing many uncertainties and challenges caused by political, economic, social, technological, legal and environmental factors. These uncertainties have contributed to an environment where there exists a range of issues and risks, including inflation, rising interest rates, labour shortages, disrupted supply chains and new ways of working.
The director has carried out an assessment of the potential impact of these uncertainties on the business, including the impact of mitigation measures, and have concluded that the greatest impact on the business is expected to be from the economic ripple effect on the global economy. The director has taken account of these potential impacts in their going concern assessment.
The Company continues to work with its partners to minimise any impact of these events and maximise the realisation of any opportunities they may provide to the business.

Disclosure of information to auditors

The director at the time when this Director's report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the Company's auditors are unaware, and

he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Independent auditors

The auditorsPricewaterhouse Coopers LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf by:
 





Boris Lokschin
Director

Date: 10 April 2025
- 2 -

 
SPRYKER SYSTEMS LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPRYKER SYSTEMS LTD
 

Opinion

We have audited the financial statements of Spryker Systems Ltd (the ‘Company’) for the year ended 31 December 2023 which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and notes to the financial statements, including a summary of significant accounting policies. 
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the Company’s affairs as at 31 December 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
- 3 -

 
SPRYKER SYSTEMS LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPRYKER SYSTEMS LTD
 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:
 
the information given in the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Director's Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemption in preparing the Director's Report and from the requirement to prepare a Strategic Report.
- 4 -

 
SPRYKER SYSTEMS LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPRYKER SYSTEMS LTD
 

Responsibilities of Director

As explained more fully in the Director's Responsibilities Statement set out on page 1, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director intends either to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
 
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
 
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 

Based on our understanding of the Company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation, anti-money laundering regulation.

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:
Inquiring of management and, where appropriate, those charged with governance, as to whether the company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;
Inspecting correspondence, if any, with relevant licensing or regulatory authorities;
Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and
Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.  

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation, pension legislation, the Companies Act 2006. 
- 5 -

 
SPRYKER SYSTEMS LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPRYKER SYSTEMS LTD
 

In addition, we evaluated the director's and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of override of controls, and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to revenue recognition.

Our audit procedures in relation to fraud included but were not limited to:
Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
Gaining an understanding of the internal controls established to mitigate risks related to fraud;
Discussing amongst the engagement team the risks of fraud; and
Addressing the risks of fraud through management override of controls by performing journal entry testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of the audit report

This report is made solely to the Company's members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body for our audit work, for this report, or for the opinions we have formed.




Alex Lazarus (Senior statutory auditor)

  
for and on behalf of Pricewaterhouse Coopers LLP
Chartered Accountants and Statutory Auditor 
1 Embankment Place
London
WC2N 6RH



10 April 2025
- 6 -

 
SPRYKER SYSTEMS LTD
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
£
£

  

Turnover
  
4,617,208
6,797,190

Gross profit
  
4,617,208
6,797,190

Administrative expenses
  
(4,454,679)
(6,492,494)

Other operating income
  
11,838
-

Operating profit and profit before tax
  
174,367
304,696

Other finance expenses
  
(1,275)
(10,340)

Profit before tax
  
173,092
294,356

Tax on profit
  
(48,861)
(77,271)

Profit for the financial year
  
124,231
217,085

Other comprehensive income
  
-
-

Total comprehensive income for the year
  
124,231
217,085

The Statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

The notes on pages 10 to 16 form part of these financial statements.
- 7 -

 
SPRYKER SYSTEMS LTD
REGISTERED NUMBER: 12229516

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
22,733
42,595

  
22,733
42,595

Current assets
  

Debtors: amounts falling due within one year
 5 
2,409,009
1,512,906

Cash at bank and in hand
  
370,506
131,683

  
2,779,515
1,644,589

Creditors: amounts falling due within one year
 6 
(2,313,504)
(1,312,022)

Net current assets
  
 
 
466,011
 
 
332,567

Total assets less current liabilities
  
488,744
375,162

Provisions for liabilities
  

Deferred tax
 7 
-
(10,649)

  
 
 
-
 
 
(10,649)

Net assets
  
488,744
364,513


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
488,644
364,413

Total equity
  
488,744
364,513


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 were approved and authorised for issue by the board and were signed on its behalf by: 




Boris Lokschin
Director

Date: 10 April 2025

The notes on pages 10 to 16 form part of these financial statements.
- 8 -

 
SPRYKER SYSTEMS LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
100
147,328
147,428


Comprehensive income for the year

Profit for the year
-
217,085
217,085



At 1 January 2023 and 31 December 2022
100
364,413
364,513


Comprehensive income for the year

Profit for the year
-
124,231
124,231


At 31 December 2023
100
488,644
488,744


The notes on pages 10 to 16 form part of these financial statements.
- 9 -

 
SPRYKER SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Spryker Systems Ltd (the 'Company') is a company limited by shares, incorporated in England in Wales. The Company's registered number is 12229516. The address of its registered office address is Fifth floor, Suite 23, 63/66 Hatton Garden, London, United Kingdom, EC1N 8LE.

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 financial statements have been presented in Pounds Sterling as this is the currency of the primary economic environment in which the Company operates and is rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements are prepared on a going concern basis. The company remains assured of the financial support provided by the parent company. The directors have received confirmation that the parent company will continue to support the company and provide it with adequate funds when necessary to enable it to meet its debts as they fall due for a period of at least twelve months from the date of these financial statements. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The company has net assets of £488,744 in comparison to net assets of £364,513 in the prior year.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentation 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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'administrative expenses'.

- 10 -

 
SPRYKER SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

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 has only one customer, which is its parent company - Spryker Systems GmbH. Turnover is based on all transactions with the parent company recharging costs incurred.

The company recognises revenue when:
The amount of revenue can be reliaby 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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
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 other creditors as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

- 11 -

 
SPRYKER SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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 and mobile phones
-
36 months
Office equipment
-
12 months

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.

- 12 -

 
SPRYKER SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

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.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.


3.


Employees

The average monthly number of employees, including the director, during the year was 23 (2022: 32).

- 13 -

 
SPRYKER SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible assets





Computer and mobile phones
Office equipment
Total

£
£
£



Cost


At 1 January 2023
68,248
11,558
79,806


Additions
3,625
-
3,625



At 31 December 2023

71,873
11,558
83,431



Depreciation


At 1 January 2023
25,653
11,558
37,211


Charge for the year
23,487
-
23,487



At 31 December 2023

49,140
11,558
60,698



Net book value



At 31 December 2023
22,733
-
22,733



At 31 December 2022
42,595
-
42,595


5.


Debtors: amounts falling due within one year

2023
2022
£
£


Amounts owed by group companies
2,312,651
1,396,420

Other debtors
70,803
116,486

Prepayments and accrued income
25,555
-

2,409,009
1,512,906


Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are payable on demand.

- 14 -

 
SPRYKER SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans and overdrafts
798,733
749,800

Trade creditors
58,298
77,613

Amounts owed to group undertakings
1,095,435
-

Other taxation and social security
96,681
74,786

Other creditors
-
275

Corporation tax
79,032
57,342

Accruals and deferred income
185,325
352,206

2,313,504
1,312,022


Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.


7.


Deferred tax




2023


£






At beginning of year
(10,649)


Charged to profit or loss
10,649



At end of year
-

The deferred taxation balance is made up as follows:

2023
2022
£
£


Other
-
(10,649)

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SPRYKER SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Called up share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022: 100) ordinary shares of £1 each
100
100

The Company has one class of ordinary shares; each share carries one voting right per share but no right to fixed income.



9.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. At the balance sheet date the amount payable to the scheme was £86,675 (2022: £36,960). This amount is included within other taxation and social security.


10.


Related party transactions

The Company has taken advantage of the exemption from disclosing related party transactions undertaken between wholly owned members of the group that have been concluded under normal market conditions.


11.


Post balance sheet events

There have been no significant events affecting the Company since the year end.


12.


Controlling party

The immediate parent undertaking is Spryker Systems GmbH, incorporated in Germany, which owns 100% of the issued share capital.
The smallest and the largest group which produces consolidated financial statements in which the company is included is Spryker Systems GmbH. These financial statements are available upon request from Spitalerstraße 3. 20095 Hamburg, Germany.
The directors do not consider there to be an ultimate controlling party.

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