Company Registration No. 9443164 (England and Wales)
PROJECT SPARTAN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
PROJECT SPARTAN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PROJECT SPARTAN LIMITED
BALANCE SHEET
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
63,867
79,725
Current assets
Debtors
4
5,002
8,936
Cash at bank and in hand
3,488
2,398
8,490
11,334
Creditors: amounts falling due within one year
5
(24,636)
(12,056)
Net current liabilities
(16,146)
(722)
Total assets less current liabilities
47,721
79,003
Creditors: amounts falling due after more than one year
6
(3,578)
-
Net assets
44,143
79,003
Capital and reserves
Called up share capital
7
172
172
Share premium account
8
114,898
114,898
Profit and loss reserves
(70,927)
(36,067)
Total equity
44,143
79,003
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PROJECT SPARTAN LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2019
31 March 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 March 2020 and are signed on its behalf by:
Mr B M Griffiths
Director
Company Registration No. 9443164
PROJECT SPARTAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 3 -
1
Accounting policies
Company information
Project Spartan Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
1 Dukes Passage, Brighton, East Sussex, BN1 1BS.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
Plant and equipment
25% on cost
Fixtures and fittings
25% on cost
Computers
25% on cost
1.4
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 4 (2018 - 4).
PROJECT SPARTAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 4 -
3
Tangible fixed assets
Leasehold improve-ments
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 April 2018
52,801
16,657
21,058
404
90,920
Additions
-
1,845
2,971
-
4,816
At 31 March 2019
52,801
18,502
24,029
404
95,736
Depreciation and impairment
At 1 April 2018
-
5,830
5,264
101
11,195
Depreciation charged in the year
13,200
2,707
4,691
76
20,674
At 31 March 2019
13,200
8,537
9,955
177
31,869
Carrying amount
At 31 March 2019
39,601
9,965
14,074
227
63,867
At 31 March 2018
52,801
10,827
15,794
303
79,725
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
2
680
Other debtors
5,000
8,256
5,002
8,936
5
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
21
-
Trade creditors
1,353
(60)
Taxation and social security
11,125
5,972
Other creditors
12,137
6,144
24,636
12,056
6
Creditors: amounts falling due after more than one year
2019
2018
£
£
Other creditors
3,578
-
PROJECT SPARTAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 5 -
7
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
35 Ordinary A of £1 each
35
35
35 Ordinary B of £1 each
35
35
30 Ordinary C of £1 each
30
30
72 Ordinary D of £1 each
72
72
172
172
8
Share premium account
2019
2018
£
£
At the beginning of the year
114,898
9,970
Issue of new shares
-
104,928
At the end of the year
114,898
114,898