Company Registration No. 3290876 (England and Wales)
SPECTRUM TELECOMMUNICATIONS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2015
SPECTRUM TELECOMMUNICATIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
SPECTRUM TELECOMMUNICATIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2015
31 July 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
390,088
398,001
Current assets
Stocks
2,371
-
Debtors
641,096
443,888
Cash at bank and in hand
99,895
188,497
743,362
632,385
Creditors: amounts falling due within one year
3
(632,251)
(685,666)
Net current assets/(liabilities)
111,111
(53,281)
Total assets less current liabilities
501,199
344,720
Creditors: amounts falling due after more than one year
(152,697)
(172,063)
Provisions for liabilities
(2,600)
(4,800)
345,902
167,857
Capital and reserves
Called up share capital
4
100
100
Revaluation reserve
69,573
69,573
Profit and loss account
276,229
98,184
Shareholders' funds
345,902
167,857
SPECTRUM TELECOMMUNICATIONS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2015
31 July 2015
- 2 -
For the financial year ended 31 July 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 19 February 2016
Mr C Money
Director
Company Registration No. 3290876
SPECTRUM TELECOMMUNICATIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
10% reducing balance
Computer equipment
20% straight line
Fixtures, fittings & equipment
20% straight line
Motor vehicles
25% reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
SPECTRUM TELECOMMUNICATIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 August 2014
491,399
Additions
8,997
At 31 July 2015
500,396
Depreciation
At 1 August 2014
93,398
Charge for the year
16,910
At 31 July 2015
110,308
Net book value
At 31 July 2015
390,088
At 31 July 2014
398,001
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £171,901 (2014 - £189,528).
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100