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Registration number: 02853229

Anspear Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Anspear Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Anspear Limited

Company Information

Directors

Mr Mark Anthony Pearson

Mr Stephen Charles Richard Munday

Mr George Alexander Pearson

Mr Charles Alexander Pearson

Mr Edward George Pearson

Company secretary

Mr Pieter Thomas van Beesten

Registered office

10 Hills Road
Cambridge
Cambridgeshire
CB2 1JT

Accountants

Tayabali & White 5 High Green
Great Shelford
Cambridge
CB22 5EG

 

Anspear Limited

(Registration number: 02853229)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

262

350

Investments

6

12,002

12,002

 

12,264

12,352

Current assets

 

Debtors

7

657,424

393,851

Cash at bank and in hand

 

20,190

77,437

 

677,614

471,288

Creditors: Amounts falling due within one year

8

(338,278)

(253,875)

Net current assets

 

339,336

217,413

Total assets less current liabilities

 

351,600

229,765

Creditors: Amounts falling due after more than one year

8

(656,413)

(694,663)

Net liabilities

 

(304,813)

(464,898)

Capital and reserves

 

Called up share capital

9

1,376

1,376

Share premium reserve

728,064

728,064

Retained earnings

(1,034,253)

(1,194,338)

Shareholders' deficit

 

(304,813)

(464,898)

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Anspear Limited

(Registration number: 02853229)
Balance Sheet as at 31 July 2024

Approved and authorised by the Board on 25 April 2025 and signed on its behalf by:
 

.........................................
Mr George Alexander Pearson
Director

 

Anspear Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The company's registered number is 02853229.

The address of its registered office is:
10 Hills Road
Cambridge
Cambridgeshire
CB2 1JT
England

These financial statements were authorised for issue by the Board on 25 April 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.

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.

 

Anspear Limited

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

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.

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:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Anspear Limited

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

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Anspear Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 15).

 

Anspear Limited

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

4

Intangible assets

Goodwill
 £

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 August 2023

130,000

7,512

137,512

At 31 July 2024

130,000

7,512

137,512

Amortisation

At 1 August 2023

130,000

7,512

137,512

At 31 July 2024

130,000

7,512

137,512

Carrying amount

At 31 July 2024

-

-

-

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2023

15,904

31,246

47,150

At 31 July 2024

15,904

31,246

47,150

Depreciation

At 1 August 2023

15,705

31,095

46,800

Charge for the year

50

38

88

At 31 July 2024

15,755

31,133

46,888

Carrying amount

At 31 July 2024

149

113

262

At 31 July 2023

199

151

350

 

Anspear Limited

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

6

Investments

2024
£

2023
£

Investments in associates

12,002

12,002

Associates

£

Cost

At 1 August 2023

12,002

Provision

Carrying amount

At 31 July 2024

12,002

At 31 July 2023

12,002

7

Debtors

Current

2024
£

2023
£

Trade debtors

593,590

329,542

Prepayments

63,834

55,256

Other debtors

-

9,053

 

657,424

393,851

 

Anspear Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

49,783

28,646

Taxation and social security

122,091

68,431

Accruals and deferred income

166,404

156,798

338,278

253,875

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

656,413

694,663

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £0.00 each

1,376,261

1,376

1,376,261

1,376

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

656,413

694,663

 

Anspear Limited

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

11

Related party transactions

At the balance sheet date the company owed the directors the following:

G A Pearson £450 (2023: £20,200)


In addition the company owed the Hanford Dairy Farm partnership £655,963 (2023: £674,463). Interest is being charged on this loan at a variable interest rate above the Bank of England base rate.

The directors, G A Pearson and M A Pearson are partners in Handford Dairy Farm, each holding 50%.