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Registered number: 08451970 (England & Wales)
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DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
30 APRIL 2025
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Pages for Filing with Registrar
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CONTENTS
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Notes to the Financial Statements
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COMPANY INFORMATION
- 1 -
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Registered number: 08451970 (England & Wales)
SPINK PARTNER CO LIMITED
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BALANCE SHEET
AS AT 30 APRIL 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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- 2 -
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Registered number: 08451970 (England & Wales)
SPINK PARTNER CO LIMITED
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BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2025
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and the member has not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the Director's Report and the Profit and Loss Account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the director:
The notes on pages 4 to 9 form part of these financial statements.
- 3 -
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Spink Partner Co Limited is a private company limited by share capital, incorporated in England & Wales, registered number 08451970. The address of the registered office is 40 Queen Anne Street, London W1G 9EL.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention and in accordance with Section 1A - small entities of Financial Reporting Standard 102, 'the Financial Reporting Standard applicable in the UK and the Republic of Ireland' ('FRS 102') and the Companies Act 2006.
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Exemption from preparing consolidated financial statements
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The company, and the group headed by it, qualify as small as set out in Section 383 of the Companies Act 2006 and therefore are exempt from the requirement to prepare consolidated financial statements. These financial statements present the informaiton for the parent on a stand alone basis.
At the balance sheet date the company had net current liabilities. The shareholder has indicated that he will continue to provide financial support to the company for a period of at least twelve months from the date of approval of the financial statements and will not demand repayment of any amounts due to him if this could put into jeopardy the going concern basis of the company. Accordingly, the shareholder believes that the financial statements should be prepared on a going concern basis.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of turnover can be measured reliably;
∙it is probable that the company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Interest income is recognised in the Profit and Loss Account using the effective interest method.
- 4 -
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 balance sheet 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 balance sheet date.
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.
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:
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 the Profit and Loss Account.
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the Profit and Loss Account.
- 5 -
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Short-term debtors are measured at the transaction price, less any impairment.
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Cash and cash equivalents
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Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.
Short-term creditors are measured at the transaction price.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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The average monthly number of employees, including the director, during the year was 1 (2024 - 1).
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- 6 -
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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Loans to subsidiary companies
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- 7 -
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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Freehold investment property
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Creditors: amounts falling due within one year
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Taxation and other social security
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Allotted, called up and fully paid
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1 (2024 - 1) Ordinary share of £1.00
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- 8 -
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
The company has entered into an agreement to sell the shares in a subsidiary with a target date of 27 February 2026; though the agreement may be extended. The value of the investment in subsidiary as at the year end was £26,900,001 (2024: £14,000,001). The company's investment in the subsidiary was pledged as security to the buyer for the performance of the obligations under the share purchase agreement.
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Related party transactions
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At the year end the balance due to the director-shareholder was £26,564,709 (2024 - £23,243,372).
The company has taken advantage of the exemption provided by FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.
The company is not required to disclose transactions with entities under common ownership, in accordance with FRS 102, Section 1A.
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- 9 -
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