Company Registration No. 07651046 (England and Wales)
SPICE PROPERTY CONSULTANTS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2015
SPICE PROPERTY CONSULTANTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SPICE PROPERTY CONSULTANTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2015
30 June 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,117
1,496
Current assets
Debtors
35,131
58,095
Cash at bank and in hand
21,568
6,247
56,699
64,342
Creditors: amounts falling due within one year
(26,436)
(42,749)
Net current assets
30,263
21,593
Total assets less current liabilities
31,380
23,089
Provisions for liabilities
(223)
(299)
31,157
22,790
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
31,156
22,789
Shareholders' funds
31,157
22,790
For the financial year ended 30 June 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 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 director acknowledges his 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 for issue on 15 November 2015
Mr J Spice
Director
Company Registration No. 07651046
SPICE PROPERTY CONSULTANTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 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 goods and services net of VAT and trade discounts.
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:
Computer equipment
3 years straight line
Fixtures, fittings & equipment
25% reducing balance
1.5
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 July 2014
7,174
Additions
589
Disposals
(870)
At 30 June 2015
6,893
Depreciation
At 1 July 2014
5,678
On disposals
(503)
Charge for the year
601
At 30 June 2015
5,776
Net book value
At 30 June 2015
1,117
At 30 June 2014
1,496
SPICE PROPERTY CONSULTANTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1
4
Related party relationships and transactions
The following director had an interest free loan during the year. The movement on this loan was as follows:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Directors Loan Account
-
6,500
26,269
-
6,498
26,271
6,500
26,269
-
6,498
26,271
The balance has been cleared subsequent to the year end.