Company Registration No. 03265708 (England and Wales)
Sceptre Networking Limited
Unaudited accounts
for the year ended 30 June 2020
Sceptre Networking Limited
Unaudited accounts
Contents
Sceptre Networking Limited
Statement of financial position
as at
30 June 2020
Tangible assets
304,176
337,812
Inventories
21,819
26,659
Cash at bank and in hand
62,229
126,428
Creditors: amounts falling due within one year
(139,115)
(439,041)
Net current assets
123,203
287,193
Total assets less current liabilities
427,379
625,005
Creditors: amounts falling due after more than one year
(16,611)
(30,264)
Provisions for liabilities
Deferred tax
(16,545)
(20,522)
Net assets
394,223
574,219
Called up share capital
104
104
Share premium
27,980
27,980
Profit and loss account
366,139
546,135
Shareholders' funds
394,223
574,219
For the year ending 30 June 2020 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 directors acknowledge their 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 of Directors and authorised for issue on 18 September 2020 and were signed on its behalf by
D A Benning
Director
Company Registration No. 03265708
Sceptre Networking Limited
Notes to the Accounts
for the year ended 30 June 2020
Sceptre Networking Limited is a private company, limited by shares, registered in England and Wales, registration number 03265708. The registered office is 16 Canvin Court, Somerton Business Park, Somerton, Somerset, TA11 6SB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
50% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Sceptre Networking Limited
Notes to the Accounts
for the year ended 30 June 2020
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
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 July 2019
217,095
83,699
157,188
20,287
42,832
521,101
Additions
-
546
-
-
2,946
3,492
Disposals
-
-
(31,667)
-
-
(31,667)
At 30 June 2020
217,095
84,245
125,521
20,287
45,778
492,926
At 1 July 2019
-
47,037
74,774
20,287
41,191
183,289
Charge for the year
-
10,744
19,767
-
1,554
32,065
On disposals
-
-
(26,604)
-
-
(26,604)
At 30 June 2020
-
57,781
67,937
20,287
42,745
188,750
At 30 June 2020
217,095
26,464
57,584
-
3,033
304,176
At 30 June 2019
217,095
36,662
82,414
-
1,641
337,812
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
36,997
49,329
Raw materials
21,819
26,659
Trade debtors
153,084
556,625
Accrued income and prepayments
20,186
16,522
Sceptre Networking Limited
Notes to the Accounts
for the year ended 30 June 2020
7
Creditors: amounts falling due within one year
2020
2019
Obligations under finance leases and hire purchase contracts
14,257
13,217
Trade creditors
75,773
327,306
Taxes and social security
40,062
66,341
Other creditors
1,313
1,685
The finance leases and hire purchase contracts are secured on the assets concerned.
8
Creditors: amounts falling due after more than one year
2020
2019
Obligations under finance leases and hire purchase contracts
16,611
30,264
The finance leases and hire purchase contracts are secured on the assets concerned.
9
Operating lease commitments
2020
2019
At 30 June 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
-
15,591
10
Average number of employees
During the year the average number of employees was 19 (2019: 23).