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Company Registration No. 08888374 (England and Wales)
Gingers Spark Ltd Unaudited accounts for the year ended 28 February 2025
Gingers Spark Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Gingers Spark Ltd Company Information for the year ended 28 February 2025
Director
M P Gillespie
Company Number
08888374 (England and Wales)
Registered Office
Unit 4R Pepper Road Hazel Grove Stockport Cheshire SK7 5BW
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Gingers Spark Ltd Statement of financial position as at 28 February 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
502
274
Current assets
Inventories
42,521
42,835
Debtors
5
77,865
72,960
Cash at bank and in hand
8,101
2,599
128,487
118,394
Creditors: amounts falling due within one year
6
(92,266)
(158,516)
Net current assets/(liabilities)
36,221
(40,122)
Net assets/(liabilities)
36,723
(39,848)
Capital and reserves
Called up share capital
100
100
Profit and loss account
36,623
(39,948)
Shareholders' funds
36,723
(39,848)
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2025 and were signed on its behalf by
M P Gillespie Director Company Registration No. 08888374
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Gingers Spark Ltd Notes to the Accounts for the year ended 28 February 2025
1
Statutory information
Gingers Spark Ltd is a private company, limited by shares, registered in England and Wales, registration number 08888374. The registered office is Unit 4R Pepper Road, Hazel Grove, Stockport, Cheshire, SK7 5BW.
2
Compliance with accounting standards
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company continues to enjoy the support of the director.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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Gingers Spark Ltd Notes to the Accounts for the year ended 28 February 2025
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
25% straight line
Computer equipment
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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Gingers Spark Ltd Notes to the Accounts for the year ended 28 February 2025
Defined contribution plans
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 March 2024
1,165
2,559
3,724
Additions
172
560
732
At 28 February 2025
1,337
3,119
4,456
Depreciation
At 1 March 2024
1,095
2,355
3,450
Charge for the year
113
391
504
At 28 February 2025
1,208
2,746
3,954
Net book value
At 28 February 2025
129
373
502
At 29 February 2024
70
204
274
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
65,610
62,081
Other debtors
12,255
10,879
77,865
72,960
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
26,017
24,816
Taxes and social security
20,467
13,169
Other creditors
45,782
120,531
92,266
158,516
7
Loans to directors
Included in other creditors are loans from the director, Mr M P Gillespie, of £143 (2024: £122). These loans are interest free and repayable on demand.
8
Transactions with related parties
Treeline Consultancy Services Ltd A company in which Mr Gillespie is a shareholder and director. Amount due to the related party at 28.02.25 £43,699 (28.02.24 £117,303). During the period an intercompany balance of £40,000 was written off.
9
Average number of employees
During the year the average number of employees was 3 (2024: 2).
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