Company registration number 05584713 (England and Wales)
SPEARMINT RHINO JSUK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SPEARMINT RHINO JSUK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 5
SPEARMINT RHINO JSUK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
1
1
Current assets
-
-
Creditors: amounts falling due within one year
5
(1)
(1)
Net current liabilities
(1)
(1)
Net assets
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
(1,000)
(1,000)
Total equity
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 3 July 2025 and are signed on its behalf by:
Mr J R Specht
Director
Company Registration No. 05584713
SPEARMINT RHINO JSUK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
1,000
(1,000)
-
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
Balance at 31 December 2023
1,000
(1,000)
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
Balance at 31 December 2024
1,000
(1,000)
SPEARMINT RHINO JSUK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Spearmint Rhino JSUK Limited is a private company, limited by shares, incorporated in England and Wales. The registered office is 64 Hagley Road, Birmingham, United Kingdom, B16 8PF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
After taking into account the economic conditions, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Spearmint Rhino Companies Worldwide continues to be supportive of the company and its business. The company therefore continues to adopt the going concern basis in preparing its financial statements.true
1.3
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.4
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
SPEARMINT RHINO JSUK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
4
Subsidiaries
Details of the company's subsidiaries at 31 December 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Dynamic Leisure Limited
64 Hagley Road, Birmingham, B16 8PF
Ordinary
100.00
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1
1
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Paul Creasey
Statutory Auditor:
Azets Audit Services
7
Financial commitments, guarantees and contingent liabilities
At the year end the company is party to a cross guarantee with the group headed by Spearmint Rhino Ventures (UK) Limited. In the event of the cross-guarantee being enforced the company is therefore contingently liable for the amounts due to the bank at the time. The directors do not expect this liability to crystallise in the foreseeable future.
SPEARMINT RHINO JSUK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
8
Ultimate controlling party
The ultimate controlling party is The Gray Family Trust.
9
Related Party Disclosures
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.