Company Registration No. 05788108 (England and Wales)
SPHERA PHARM LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
SPHERA PHARM LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SPHERA PHARM LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,168
47
Current assets
Debtors
17,726
27,411
Cash at bank and in hand
178,664
145,457
196,390
172,868
Creditors: amounts falling due within one year
(26,198)
(10,398)
Net current assets
170,192
162,470
Total assets less current liabilities
171,360
162,517
Provisions for liabilities
(234)
-
171,126
162,517
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
171,125
162,516
Shareholders' funds
171,126
162,517
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime within Part 15 of the Companies Act 2006.
Approved by the Board for issue on 25 June 2015
K. Hebri
Director
Company Registration No. 05788108
SPHERA PHARM LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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 services net of VAT.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
20% on cost
1.5
Pensions
The company operates a defined contribution scheme for the benefit of the director. Contributions payable are charged to the profit and loss account in the year they are payable.
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.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014
2,357
Additions
1,753
At 31 March 2015
4,110
Depreciation
At 1 April 2014
2,310
Charge for the year
632
At 31 March 2015
2,942
Net book value
At 31 March 2015
1,168
At 31 March 2014
47
SPHERA PHARM LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1 Ordinary shares of £1 each
1
1
4
Related party relationships and transactions
Loans to directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
K. Hebri
11,373
76,772
-
(90,445)
(2,300)
11,373
76,772
-
(90,445)
(2,300)