Company Registration No. 08214183 (England and Wales)
Sparta Promotions Ltd
Unaudited accounts
for the year ended 30 September 2017
Sparta Promotions Ltd
Unaudited accounts
Contents
Sparta Promotions Ltd
Company Information
for the year ended 30 September 2017
Company Number
08214183 (England and Wales)
Registered Office
CHURCHILL HOUSE, SUITE 301
120 BUNNS LANE
MILL HILL
LONDON
NW7 2AS
Accountants
Platts
Churchill House, Suite 301
120 Bunns Lane
Mill Hill
London
NW7 2AS
Sparta Promotions Ltd
Statement of financial position
as at
30 September 2017
Tangible assets
4,365
5,820
Cash at bank and in hand
5,386,152
3,043,995
Creditors: amounts falling due within one year
(503,896)
(828,554)
Net current assets
4,963,012
2,229,661
Net assets
4,967,379
2,235,481
Called up share capital
86
100
Capital redemption reserve
15
-
Profit and loss account
4,967,278
2,235,381
Shareholders' funds
4,967,379
2,235,481
For the year ending 30 September 2017 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.
Approved by the Board on 12 February 2018.
Mr A O O Joshua
Director
Company Registration No. 08214183
Sparta Promotions Ltd
Notes to the Accounts
for the year ended 30 September 2017
Sparta Promotions Ltd is a private company, limited by shares, registered in England and Wales, registration number 08214183. The registered office is CHURCHILL HOUSE, SUITE 301, 120 BUNNS LANE, MILL HILL, LONDON, NW7 2AS. The principal place of business is 11 Calico Row, Plantation Wharf, Battersea, London, SW11 3YH, United Kingdom.
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.
These financial statements for the year ended
30 September 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note
12 below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The company and its subsidiary undertaking comprise a small group. The company has taken advantage of the exemption provided by s.398 of the Companies Act 2006 not to prepare group accounts. The accounts therefore present information about the company as an individual undertaking and not about its group.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Fixtures & fittings
25% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Investments in shares are included at cost less provision for diminution in value.
Sparta Promotions Ltd
Notes to the Accounts
for the year ended 30 September 2017
4
Intangible fixed assets
Other
5
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
At 30 September 2017
14,528
Charge for the year
1,455
At 30 September 2017
10,163
At 30 September 2017
4,365
At 30 September 2016
5,820
6
Investments
Subsidiary undertakings
Valuation at 1 October 2016
-
Valuation at 30 September 2017
1
Amounts due from group undertakings etc.
80,756
12,623
Sparta Promotions Ltd
Notes to the Accounts
for the year ended 30 September 2017
8
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
503,871
824,554
Loans from directors
25
-
9
Share capital
2017
2016
Allotted, called up and fully paid:
86 Ordinary shares of £1 each
86
100
10
Transactions with related parties
The director, as of 21/08/2017 owns 100% (2016: 85%) of the issued share capital of the company.
During the year, the director was paid dividends in the sum of £1,014,263 (2016 - £199,750).
The amounts owed by group undertakings detailed in note 9 is represented by 258 Marketing Limited in the sum of £80,756 (2016 - £12,623) in which Mr A O O Joshua is a director, and which is interest free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 2 (2016: 1).
12
Reconciliations on adoption of FRS 102
The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.