Spark Venture Management Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02454345 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

SPARK VENTURE MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A D N Betton

Mr A D Duffy

Mr J R Patel

Mr T A Teichman

SECRETARY:

Mr A D N Betton

REGISTERED OFFICE:

62 Dean Street

London

W1D 4QF

REGISTERED NUMBER:

02454345 (England and Wales)

ACCOUNTANTS:

KJG

100 Barbirolli Square

Manchester

M2 3BD

FIXED ASSETS

Tangible assets

4

180

537

Investments

5

28,217

81,143

28,397

81,680

CURRENT ASSETS

Debtors

6

136,654

136,709

Cash at bank

76,476

36,366

213,130

173,075

CREDITORS

Amounts falling due within one year

7

(101,934

)

(123,476

)

NET CURRENT ASSETS

111,196

49,599

TOTAL ASSETS LESS CURRENT LIABILITIES

139,593

131,279

CAPITAL AND RESERVES

Called up share capital

8

150,000

150,000

Retained earnings

(10,407

)

(18,721

)

SHAREHOLDERS' FUNDS

139,593

131,279

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd October 2023 and were signed on its behalf by:

Mr A D N Betton - Director

1.	STATUTORY INFORMATION

Spark Venture Management 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 as modified by the revaluation of certain assets.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

The company's turnover derives from the management and operation of venture capital funds and the provision of management and advisory services to third parties. Revenue is recognised over the agreement for the provision of services.

Other operating income comprises recharges of salaries to associated companies.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investment

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 Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2022

and 31st March 2023

2,289

DEPRECIATION

At 1st April 2022

1,752

Charge for year

357

At 31st March 2023

2,109

NET BOOK VALUE

At 31st March 2023

180

At 31st March 2022

537

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1st April 2022

81,143

Disposals

(66,058

)

Revaluations

13,132

At 31st March 2023

28,217

NET BOOK VALUE

At 31st March 2023

28,217

At 31st March 2022

81,143

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

29,510

63,553

Amounts owed by joint ventures

29

29,184

Other debtors

26

523

Deferred tax

2,645

2,392

VAT

642

-

Prepayments

103,802

41,057

136,654

136,709

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

8,215

16,390

Amounts owed to group undertakings

70,823

76,500

Taxation and social security

7,010

10,724

Other creditors

15,886

19,862

101,934

123,476

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

150,000

Ordinary

1

150,000

150,000

9.	RELATED PARTY DISCLOSURES

At the reporting date TA Teichman, a director of the company was owed £11,680 (2022: £11,680) by the company.

The company owns 20% of Spark China Limited. During the year the company recharged payroll costs to Spark China Limited totalling £115,067 (2022: £116,352). At the reporting date, Spark China Limited owed £29 (2022: £29,184) to the company.

The company is exempt from disclosing other related party transactions as they are with companies that are wholly owned within the group.

10.	ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate parent undertaking is Querist Limited. Querist Limited is incorporated in England and Wales. Copies of the group accounts may be obtained from the secretary, 62 Dean Street, London W1D 4QF.