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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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Interweb Spark Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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Interweb Spark Limited |
Interweb Spark Limited (Registered number: 03401937) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Interweb Spark Limited |
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Company Information |
for the Year Ended 31 March 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
50 Osmaston Road |
Derby |
DE1 2HU |
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BANKERS: |
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Business Services |
Leicester |
Leicestershire |
LE87 2BB |
Interweb Spark Limited (Registered number: 03401937) |
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Balance Sheet |
31 March 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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Investment property | 7 |
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CURRENT ASSETS |
Stocks |
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Debtors | 8 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
10 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 12 |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 |
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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. |
Interweb Spark Limited (Registered number: 03401937) |
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Balance Sheet - continued |
31 March 2019 |
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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
its behalf by: |
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Interweb Spark Limited (Registered number: 03401937) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Interweb Spark Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment |
losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit or loss. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are |
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
account in administrative expenses. |
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Interweb Spark Limited (Registered number: 03401937) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year 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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet 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 year 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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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. |
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Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at |
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's |
cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount |
exceeds its recoverable amount, an impairment loss is recognised in profit or loss. |
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Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result |
of a past event, it is probable that the outflow of economic benefits will be required in settlement and |
the amount can be reliably estimated. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Interweb Spark Limited (Registered number: 03401937) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
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AMORTISATION |
At 1 April 2018 |
and 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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Included in cost of land and buildings is freehold land of £ 67,500 (2018 - £ 67,500 ) which is not |
depreciated. |
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7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2018 |
and 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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The directors consider the value of the investment property to be the same as its original cost. |
Interweb Spark Limited (Registered number: 03401937) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Corporation tax |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Directors' loan accounts | 57,930 | 40,792 |
Accruals |
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10. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Bank loans due in 1-2 years |
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Bank loans due in 2-5 years |
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Bank loans due after 5 years |
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Other loans - 1-2 years |
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Other loans - 2-5 years |
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Other loans more 5yrs |
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Directors' loan accounts | 2,373 | 9,261 |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans due after 5 years | 246,091 | 270,432 |
Other loans more 5yrs | 41,710 | 50,293 |
287,801 | 320,725 |
Interweb Spark Limited (Registered number: 03401937) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank loans |
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The bank loans are secured against the property to which they relate. |
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12. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary A | 1p | 80 | 80 |
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Ordinary B | 1p | - | - |
80 | 80 |