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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 2 JUNE 2018 TO 31 MAY 2019 |
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SPARK LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 2 JUNE 2018 TO 31 MAY 2019 |
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FOR |
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SPARK LIMITED |
SPARK LIMITED (REGISTERED NUMBER: 03538276) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JUNE 2018 TO 31 MAY 2019 |
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Page |
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Statement of Financial Position | 1 |
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Notes to the Financial Statements | 2 | to | 5 |
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SPARK LIMITED (REGISTERED NUMBER: 03538276) |
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STATEMENT OF FINANCIAL POSITION |
31 MAY 2019 |
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31.5.19 | 1.6.18 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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SPARK LIMITED (REGISTERED NUMBER: 03538276) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JUNE 2018 TO 31 MAY 2019 |
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1. | STATUTORY INFORMATION |
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SPARK LIMITED is a
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company's registered number and registered office address are as below: |
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Registered number: | 03538276 |
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Registered office: | C/o DPC Accountants |
Stone House |
55 Stone Road Business Park |
Stoke on Trent |
Staffordshire |
ST4 6SR |
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The principal activity of the company is providing information and consultancy services. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the entity. |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and |
assumptions that affect the amounts reported. These estimates and judgements are continually |
reviewed and are based on experience and other factors, including expectations of future events that |
are believed to be reasonable under the circumstances. |
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The judgements that management has made in the process of applying the entity's accounting policies |
and that have the most significant effect on the amounts recognised in the financial statements are as |
follows: |
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Estimated useful lives and residual values of fixed assets |
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As described in the notes of the financial statements, depreciation of tangible fixed assets has been |
based on estimated useful lives and residual values deemed appropriate by the directors. Estimated |
useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into |
account estimated useful lives used by other companies operating in the sector and actual asset lives |
and residual values, as evidenced by disposals during the current and prior accounting periods. |
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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable for goods supplied |
or services rendered, excluding discounts, rebates, value added tax and other sales taxes. |
SPARK LIMITED (REGISTERED NUMBER: 03538276) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JUNE 2018 TO 31 MAY 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
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Computer equipment | - |
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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. |
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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. |
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Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the |
contractual provisions of the instrument. |
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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. |
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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. |
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Debit instruments are measured at amortised cost. |
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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. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of |
Income and Retained Earnings, except to the extent that it relates to items recognised in other |
comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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SPARK LIMITED (REGISTERED NUMBER: 03538276) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JUNE 2018 TO 31 MAY 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the statement of financial position date. |
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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 period end and that |
are expected to apply to the reversal of the timing difference. |
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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. |
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Impairment of fixed assets |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount |
being estimated where such indicators exist. Where the carrying value exceeds the recoverable |
amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at |
each reporting date. |
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For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of |
an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to |
which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that |
includes the asset and generates cash inflows that largely independent of the cash inflows from other |
assets or groups of assets. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 2 June 2018 |
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Additions |
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Disposals | ( |
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At 31 May 2019 |
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DEPRECIATION |
At 2 June 2018 |
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Charge for period |
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Eliminated on disposal | ( |
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At 31 May 2019 |
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NET BOOK VALUE |
At 31 May 2019 |
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At 1 June 2018 |
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SPARK LIMITED (REGISTERED NUMBER: 03538276) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JUNE 2018 TO 31 MAY 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.19 | 1.6.18 |
£ | £ |
Directors' loan accounts | 42,053 | 1,687 |
Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.19 | 1.6.18 |
£ | £ |
Trade creditors |
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Tax |
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VAT | 4,719 | 10,404 |
Accruals and deferred income |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the period ended 31 May 2019 and |
the year ended 1 June 2018: |
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31.5.19 | 1.6.18 |
£ | £ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
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8. | EVENTS AFTER THE END OF THE REPORTING PERIOD |
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There were no significant events up to 29 January 2020, being the date of approval of the financial |
statements by the Board. |