Spinnaker London Limited
Unaudited Financial Statements
For the year ended 31 March 2025
Pages for Filing with Registrar
Company Registration No. 11213027 (England and Wales)
Spinnaker London Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
Spinnaker London Limited
Balance Sheet
As at 31 March 2025
Page 1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
17,504
17,714
Current assets
Debtors
4
227,784
202,701
Cash at bank and in hand
306,524
506,293
534,308
708,994
Creditors: amounts falling due within one year
5
(238,390)
(385,545)
Net current assets
295,918
323,449
Net assets
313,422
341,163
Capital and reserves
Called up share capital
6
1,000
1,000
Profit and loss reserves
312,422
340,163
Total equity
313,422
341,163

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Spinnaker London Limited
Balance Sheet (Continued)
As at 31 March 2025
Page 2
The financial statements were approved by the board of directors and authorised for issue on 15 October 2025 and are signed on its behalf by:
R Goldsmith
Director
Company Registration No. 11213027
Spinnaker London Limited
Statement of Changes in Equity
For the year ended 31 March 2025
Page 3
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2023
1,000
211,008
212,008
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
372,449
372,449
Dividends
-
(243,294)
(243,294)
Balance at 31 March 2024
1,000
340,163
341,163
Year ended 31 March 2025:
Profit and total comprehensive income for the year
-
185,527
185,527
Dividends
-
(213,268)
(213,268)
Balance at 31 March 2025
1,000
312,422
313,422
Spinnaker London Limited
Notes to the Financial Statements
For the year ended 31 March 2025
Page 4
1
Accounting policies
Company information

Spinnaker London Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.

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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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

These financial statements are prepared on the going concern basis.true The directors expect the company to have sufficient funds to settle all of its liabilities as they fall due for at least 12 months from signing the accounts.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of trade discounts, VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Spinnaker London Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 5
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Spinnaker London Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 6
1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
17
15
Spinnaker London Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 7
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024
337,778
Additions
8,314
Disposals
(301,506)
At 31 March 2025
44,586
Depreciation and impairment
At 1 April 2024
320,064
Depreciation charged in the year
8,524
Eliminated in respect of disposals
(301,506)
At 31 March 2025
27,082
Carrying amount
At 31 March 2025
17,504
At 31 March 2024
17,714
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
173,705
165,451
Other debtors
34,585
8,029
Prepayments and accrued income
19,494
29,221
227,784
202,701
Spinnaker London Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 8
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
16,516
26,613
Trade creditors
43,985
24,951
Corporation tax
61,289
131,142
Other taxation and social security
23,972
27,574
Other creditors
2,263
32,005
Accruals and deferred income
90,365
143,260
238,390
385,545
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 10p each
9,150
9,150
915
915
Ordinary B shares of 10p each
850
850
85
85
10,000
10,000
1,000
1,000
7
Related party transactions

Dividends totalling £213,268 (2024: £243,294) were paid in the year.

8
Directors' transactions

As at the year end, a balance of £Nil (20 2 4: £29,575) was owed to the directors of the company.

As at the year end, a balance of £2,570 (20 2 4: £Nil) was owed from R Goldsmith, a director of the company.

9
Parent company

The parent company is Spinnaker London (Holdings) Limited, with a registered address of 6th Floor Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.

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