Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-31 2024-12-31 false 2024-01-01 1 false No description of principal activity 1 true false 07409511 2024-01-01 2024-12-31 07409511 2023-01-01 2023-12-31 07409511 2024-12-31 07409511 2023-12-31 07409511 c:Director1 2024-01-01 2024-12-31 07409511 c:RegisteredOffice 2024-01-01 2024-12-31 07409511 d:CurrentFinancialInstruments 2024-12-31 07409511 d:CurrentFinancialInstruments 2023-12-31 07409511 d:ShareCapital 2024-12-31 07409511 d:ShareCapital 2023-12-31 07409511 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 07409511 d:RetainedEarningsAccumulatedLosses 2024-12-31 07409511 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07409511 d:RetainedEarningsAccumulatedLosses 2023-12-31 07409511 d:RetainedEarningsAccumulatedLosses 2023-01-01 07409511 c:OrdinaryShareClass1 2024-01-01 2024-12-31 07409511 c:OrdinaryShareClass1 2024-12-31 07409511 c:OrdinaryShareClass1 2023-12-31 07409511 c:FRS102 2024-01-01 2024-12-31 07409511 c:Audited 2024-01-01 2024-12-31 07409511 c:FullAccounts 2024-01-01 2024-12-31 07409511 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07409511 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07409511 SPARK NORTHWEST GP LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
SPARK NORTHWEST GP LIMITED COMPANY INFORMATION
Director | M F D'Abbadie
Registered number | 07409511
Registered office | Suite 6c The Plaza
| 100 Old Hall Street
| Liverpool
| Merseyside
| England
| L3 9QJ
SPARK NORTHWEST GP LIMITED CONTENTS
| Page
Strategic report | 1
Director's report | 2 - 3
Independent auditors' report | 4 - 8
Statement of income and retained earnings | 9
Balance sheet | 10
Analysis of net debt | 11
Notes to the financial statements | 12 - 14
SPARK NORTHWEST GP LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Introduction
The director presents his strategic report for the year ended 31 December 2024.
Business review
The director believes that the company has achieved a satisfactory result for the year under review in the light of prevailing trading conditions. The director plans to continue to develop the existing activities of the company.
Principal risks and uncertainties
The company’s operations expose it to a variety of financial risks. The company seeks to limit the adverse effects on the financial performance of the company by monitoring levels of liquidity and the related finance costs. The company does not use derivative financial instruments and as such, no hedge accounting is applied.
Financial key performance indicators
The company monitors its performance on an ongoing basis and produces comprehensive quarterly management information. Key performance indicators are used on an ongoing basis to manage the business and these include the levels of assets under management, recurring income, new business, costs and EBITDA.
Liquidity risk
The company actively monitors liquidity levels to ensure the company has sufficient available funds for operations and planned expansions.
Regulatory risk
The majority of the company’s activities are regulated by the Financial Conduct Authority (FCA). The director is aware of the risks of non-compliance and ensure adequate resource and personnel are in place to maintain a controlled and fully compliant environment. This report was approved by the board on 17 September 2025 and signed on its behalf.
M F D'Abbadie Director
Page 1
SPARK NORTHWEST GP LIMITED DIRECTOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The director presents his report and the financial statements for the year ended 31 December 2024.
Director's responsibilities statement
The director is responsible for preparing the Strategic report, 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 judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙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 2006. He 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.
Results and dividends
The profit for the year, after taxation, amounted to £NIL (2023 - £NIL).
Director
The director who served during the year was:
M F D'Abbadie
Future developments
Now that the investment period for the biomedical fund of NWBF is over and the realisation period has begun, future management revenues from this fund are expected to fall as exits take place. Page 2
SPARK NORTHWEST GP LIMITED DIRECTOR'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Disclosure of information to auditors
The director at the time when this Director's report is approved has confirmed that: ∙so far as is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙ 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.
Auditors
The auditors, Langtons Professional Services Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 17 September 2025 and signed on its behalf.
M F D'Abbadie Director
Page 3
SPARK NORTHWEST GP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPARK NORTHWEST GP LIMITED
Opinion
We have audited the financial statements of SPARK Northwest GP Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of income and retained earnings, the Balance sheet and the related notes, 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 Financial Reporting Standard 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 2024 and of its result 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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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. Page 4
SPARK NORTHWEST GP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPARK NORTHWEST GP LIMITED (CONTINUED)
Other information
The director is responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' report thereon. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Opinion 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 Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the 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 Strategic report or 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. Page 5
SPARK NORTHWEST GP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPARK NORTHWEST GP LIMITED (CONTINUED)
Responsibilities of directors
As explained more fully in the Director's responsibilities statement set out on page 2, 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 either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Page 6
SPARK NORTHWEST GP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPARK NORTHWEST GP LIMITED (CONTINUED)
Auditors' 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 Auditors' 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. 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: The objectives of our audit, in respect to fraud, are: • to identify and assess the risks of material misstatement of the financial statements due to fraud; • to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and • to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. Our approach was as follows: • We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006), the relevant tax compliance regulations in the UK and the EU General Data Protection Regulation (GDPR). • We understood how the Company is complying with those frameworks by making enquiries of management. Through consideration of the results of our audit procedures we were able to either corroborate or provide contrary evidence which was then followed up. • Based on our understanding we designed our audit procedures to identify non-compliance with laws and regulations. Our procedures involved: enquiries of management; and journal entry testing, with a focus on manual consolidation journals and journals indicating large or unusual transactions based on our understanding of the business. • We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur by meeting with management to understand where it considered there was susceptibility to fraud. We also considered performance targets and their propensity to influence efforts made by management to manage revenue and earnings. Where the risk was considered to be higher, including areas impacting key performance indicators or management remuneration, we performed audit procedures to address each identified fraud risk or other risk of material misstatement. These procedures included those on revenue recognition detailed above, the assessment of items identified by management as non-recurring and testing manual journals and were designed to provide reasonable assurance that the financial statements were free from material fraud or error. Page 7
SPARK NORTHWEST GP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SPARK NORTHWEST GP LIMITED (CONTINUED) 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 Auditors' report.
Use of our 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 Auditors' 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. Eifion Roberts (Senior statutory auditor) for and on behalf of Langtons Professional Services Limited Chartered Accountants and Business Advisors Accountants 11th Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ 17 September 2025 Page 8
SPARK NORTHWEST GP LIMITED STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023
Note | £ | £
Administrative expenses |  | (100,000) | (100,000)
Other operating income | 4 | 100,000 | 100,000
Operating profit |  | - | -
Profit after tax |  | - | -
Retained earnings at the beginning of the year |  | 72 | 72
|  | 72 | 72
Loss for the year |  | - | -
Retained earnings at the end of the year |  | 72 | 72
There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of income and retained earnings.
The notes on pages 12 to 14 form part of these financial statements.
Page 9
SPARK NORTHWEST GP LIMITED REGISTERED NUMBER: 07409511 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 1 |  | 1 |
Cash at bank and in hand | 8 | 72 |  | 72 |
|  | 73 |  | 73 |
Total assets less current liabilities |  |  | 73 |  | 73
Net assets |  |  | 73 |  | 73
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 1 |  | 1
Profit and loss account | 10 |  | 72 |  | 72
|  |  | 73 |  | 73
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 September 2025.
M F D'Abbadie
Director
The notes on pages 12 to 14 form part of these financial statements. Page 10
SPARK NORTHWEST GP LIMITED ANALYSIS OF NET DEBT FOR THE YEAR ENDED 31 DECEMBER 2024
|  | At 1 January 2024 | At 31 December 2024
|  | £ | £
Cash at bank and in hand | 72 | 72
| 72 | 72
The notes on pages 12 to 14 form part of these financial statements.
Page 11
SPARK NORTHWEST GP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales (no.07409511). The address of the registered office is Suite 6c, The Plaza, 100 Old Hall Street, Liverpool, Merseyside, England, L3 9QJ. These financial statements present information about the company as an individual undertaking; it is a wholly owned subsidiary of SPARK Impact Limited. The principal activity of the company is to act as a General Partner for NWF (Biomedical) LP, a venture capital investment fund, focused on making venture equity investments in the biomedical sector in the North West of England. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | 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.
| 2.3 | 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.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
The directors have made judgements relating to deferred income and the likelihood of repayment of project loan advances from NWF (Biomedical) LP. Page 12
SPARK NORTHWEST GP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Other operating income
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other operating income | 100,000 | 100,000
|  | 100,000 | 100,000
5. | Employees
| The average monthly number of employees, including the director, during the year was as follows:
|  |  | 2024 | 2023
|  |  | No. | No.
|  | Directors | 1 | 1
6. | Taxation
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Total current tax | - | -
| Factors affecting tax charge for the year
| There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 19% (2023 - 19%).
7. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | 1 | 1
|  | 1 | 1
Page 13
SPARK NORTHWEST GP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 72 | 72
|  | 72 | 72
9. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2023 - 1) Ordinary share of £1.00 | 1 | 1
10. | Reserves
Profit & loss account Includes all current and prior period retained profits and losses.
11. | Related party transactions
| The company has paid a management charge of £100,000 (2023: £100,000) to its immediate parent company, SPARK Impact Limited.
12. | Controlling party
The company is a wholly owned subsidiary of SPARK Impact Limited, the ultimate parent company. SPARK Impact Limited is a company incorporated in England and Wales (company number 0232340) and its registered office is situated at Suite 6c, The Plaza, 100 Old Hall Street, Liverpool, Merseyside, England, L3 9QJ. Copies of the parent company financial statements may be obtained from Companies House, Cardiff, CF14 3UZ. The company is controlled by M F D'Abbadie and M Borzomato by virtue of their shareholdings.
Page 14