Spongewell Limited - Accounts to registrar (filleted) - small 22.3

Spongewell Limited - Accounts to registrar (filleted) - small 22.3

SPONGEWELL LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v22.3.0.621 09837836 director 1.4.21 31.3.22 31.3.22 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure098378362021-03-31098378362022-03-31098378362021-04-012022-03-31098378362020-03-31098378362020-04-012021-03-31098378362021-03-3109837836ns16:EnglandWales2021-04-012022-03-3109837836ns15:PoundSterling2021-04-012022-03-3109837836ns11:Director12021-04-012022-03-3109837836ns11:PrivateLimitedCompanyLtd2021-04-012022-03-3109837836ns11:SmallEntities2021-04-012022-03-3109837836ns11:AuditExemptWithAccountantsReport2021-04-012022-03-3109837836ns11:SmallCompaniesRegimeForDirectorsReport2021-04-012022-03-3109837836ns11:SmallCompaniesRegimeForAccounts2021-04-012022-03-3109837836ns11:FullAccounts2021-04-012022-03-3109837836ns11:RegisteredOffice2021-04-012022-03-3109837836ns6:CurrentFinancialInstruments2022-03-3109837836ns6:CurrentFinancialInstruments2021-03-3109837836ns6:Non-currentFinancialInstruments2022-03-3109837836ns6:Non-currentFinancialInstruments2021-03-3109837836ns6:ShareCapital2022-03-3109837836ns6:ShareCapital2021-03-3109837836ns6:RetainedEarningsAccumulatedLosses2022-03-3109837836ns6:RetainedEarningsAccumulatedLosses2021-03-3109837836ns6:CostValuation2021-03-3109837836ns6:AdditionsToInvestments2022-03-3109837836ns6:CostValuation2022-03-3109837836ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3109837836ns6:WithinOneYearns6:CurrentFinancialInstruments2021-03-3109837836ns6:AfterOneYearns6:Non-currentFinancialInstruments2022-03-3109837836ns6:AfterOneYearns6:Non-currentFinancialInstruments2021-03-31
REGISTERED NUMBER: 09837836 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

SPONGEWELL LIMITED
SPONGEWELL LIMITED (REGISTERED NUMBER: 09837836)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

SPONGEWELL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: J Moore





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 09837836 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP
Page 1
SPONGEWELL LIMITED (REGISTERED NUMBER: 09837836)

BALANCE SHEET
31 MARCH 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Investments 4 750,519 750,245

CURRENT ASSETS
Debtors 5 225,246 223,364
Cash at bank 136,502 26,790
361,748 250,154
CREDITORS
Amounts falling due within one year 6 582 907
NET CURRENT ASSETS 361,166 249,247
TOTAL ASSETS LESS CURRENT LIABILITIES 1,111,685 999,492

CREDITORS
Amounts falling due after more than one year 7 147,654 150,000
NET ASSETS 964,031 849,492

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 963,931 849,392
964,031 849,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 December 2022 and were signed by:





J Moore - Director


The notes form part of these financial statements

Page 2
SPONGEWELL LIMITED (REGISTERED NUMBER: 09837836)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Spongewell Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Government grants
In accordance with s24 of FRS 102 these are treated using the accruals model and so are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grants are intended to compensate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2021 750,245
Additions 274
At 31 March 2022 750,519
NET BOOK VALUE
At 31 March 2022 750,519
At 31 March 2021 750,245

Page 3 continued...
SPONGEWELL LIMITED (REGISTERED NUMBER: 09837836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

4. FIXED ASSET INVESTMENTS - continued

The fixed asset investments includes the cost of shares held in both Ashdown Hurrey (Solutions) Limited and Ashdown Hurrey (Holdings) Ltd. Mr J Moore is a director of both of these companies.

A capital investment of £650,000 was made in G E Laitwell LLP in 2020, a limited liability partnership in which Mr J Moore is a designated member.

5. DEBTORS
31.3.22 31.3.21
£    £   
Amounts falling due within one year:
Other debtors 125,246 123,364

Amounts falling due after more than one year:
Other debtors 100,000 100,000

Aggregate amounts 225,246 223,364

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Taxation and social security 580 906
Other creditors 2 1
582 907

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.22 31.3.21
£    £   
Other creditors 147,654 150,000

Page 4
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SPONGEWELL LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spongewell Limited for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Spongewell Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Spongewell Limited and state those matters that we have agreed to state to the director of Spongewell Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spongewell Limited and its director for our work or for this report.

It is your duty to ensure that Spongewell Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Spongewell Limited. You consider that Spongewell Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Spongewell Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


12 December 2022

This page does not form part of the statutory financial statements

Page 5