Company Registration No. 05133629 (England and Wales)
SPH 268 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019
PAGES FOR FILING WITH REGISTRAR
SPH 268 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SPH 268 LIMITED
BALANCE SHEET
AS AT
31 JULY 2019
31 July 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Investments
2
515,083
515,083
Current assets
Debtors
3
48,052
45,111
Cash at bank and in hand
17,668
20,240
65,720
65,351
Creditors: amounts falling due within one year
4
(2,400)
(3,000)
Net current assets
63,320
62,351
Total assets less current liabilities
578,403
577,434
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
578,402
577,433
Total equity
578,403
577,434
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 16 October 2019 and are signed on its behalf by:
Mr E Ozkan
Mr R Tonin
Director
Director
Company Registration No. 05133629
SPH 268 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019
- 2 -
1
Accounting policies
Company information
SPH 268 Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Unit 1 Tilers Road, Kiln Farm, Milton Keynes, MK11 3LH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 400 of the
Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group
.
SPH 268 Limited is a wholly owned subsidiary of RWDI International Inc and the results of SPH 268 Limited are included in the consolidated financial statements of RWDI International Inc which are available from 600 Southgate Drive, Guelph, ON N1G 4P6, Canada.
1.2
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
SPH 268 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2019
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Fixed asset investments
2019
2018
£
£
Investments
515,083
515,083
SPH 268 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2019
2
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 August 2018 & 31 July 2019
515,083
Carrying amount
At 31 July 2019
515,083
At 31 July 2018
515,083
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
48,052
45,111
4
Creditors: amounts falling due within one year
2019
2018
£
£
Other creditors
2,400
3,000
5
Deferred taxation
At the reporting end date, there is an unrecognised deferred tax asset of £11,704 (2018: £11,888) in respect of tax losses carried forward of £61,598 (2018: £62,567), as it is considered unlikely that the company will be able to utilise these losses in future periods.
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
SPH 268 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2019
- 5 -
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements
,
the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
The senior statutory auditor was Simon Knibbs MA FCA.
The auditor was MHA MacIntyre Hudson.
8
Parent company
The parent company is RWDI International Inc, a company incorporated in Canada. The company is located at 600 Southgate Drive, Guelph, ON N1G 4P6, Canada.