Company Registration No. 08214183 (England and Wales)
Sparta Promotions Ltd
Unaudited accounts
for the period from 1 October 2017 to 28 February 2019
Sparta Promotions Ltd
Unaudited accounts
Contents
Sparta Promotions Ltd
Company Information
for the period from 1 October 2017 to 28 February 2019
Company Number
08214183 (England and Wales)
Registered Office
Churchill House, Suite 112
120 Bunns Lane
Mill Hill
London
NW7 2AS
Accountants
Platts
Churchill House, Suite 112
120 Bunns Lane
Mill Hill
London
NW7 2AS
Sparta Promotions Ltd
Statement of financial position
as at
28 February 2019
Tangible assets
3,274
4,365
Debtors
10,128,030
80,756
Cash at bank and in hand
28,843,481
5,386,152
Creditors: amounts falling due within one year
(2,081,374)
(503,896)
Net current assets
36,890,137
4,963,012
Net assets
36,893,413
4,967,379
Called up share capital
86
86
Capital redemption reserve
15
15
Profit and loss account
36,893,312
4,967,278
Shareholders' funds
36,893,413
4,967,379
For the period ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 12 October 2019.
Mr A O O Joshua
Director
Company Registration No. 08214183
Sparta Promotions Ltd
Notes to the Accounts
for the period from 1 October 2017 to 28 February 2019
Sparta Promotions Ltd is a private company, limited by shares, registered in England and Wales, registration number 08214183. The registered office is Churchill House, Suite 112, 120 Bunns Lane, Mill Hill, London, NW7 2AS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The company and its subsidiary undertaking comprise a small group. The company has taken advantage of the exemption provided by s.398 of the Companies Act 2006 not to prepare group accounts. The accounts therefore present information about the company as an individual undertaking and not about its group.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Investments in shares are included at cost less provision for diminution in value.
Sparta Promotions Ltd
Notes to the Accounts
for the period from 1 October 2017 to 28 February 2019
4
Intangible fixed assets
Other
5
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
At 28 February 2019
14,528
Charge for the period
1,091
At 28 February 2019
11,254
At 28 February 2019
3,274
At 30 September 2017
4,365
6
Investments
Subsidiary undertakings
Valuation at 1 October 2017
1
Valuation at 28 February 2019
1
Amounts due from group undertakings etc.
10,128,030
80,756
8
Creditors: amounts falling due within one year
2019
2017
Taxes and social security
2,081,317
503,871
Loans from directors
57
25
Sparta Promotions Ltd
Notes to the Accounts
for the period from 1 October 2017 to 28 February 2019
9
Share capital
2019
2017
Allotted, called up and fully paid:
86 Ordinary shares of £1 each
86
86
10
Transactions with related parties
During the year, the director was paid dividends in the sum of £1,075,000 (2017 - £1,014,263).
The amounts owed by group undertakings detailed in the notes is represented by the company's subsidiary undertaking in the sum of £128,030 (2017 - £80,756) in which Mr A O O Joshua is a director and a related company in the sum of £10,000,000 (2017 - Nil) in which Mr A O O Joshua is a director and shareholder, and which are interest free and repayable on demand.
11
Average number of employees
During the period the average number of employees was 2 (2017: 2).