Spectrum Facilities Management Svcs Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10363041 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2018

for

Spectrum Facilities Management Services

Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S Mills

Mrs A Mills

REGISTERED OFFICE:

53 Coney Hill Road

Gloucester

Gloucestershire

GL4 4QL

REGISTERED NUMBER:

10363041 (England and Wales)

ACCOUNTANTS:

HATS Gloucester Ltd

The White House

162 Hucclecote Road

Hucclecote

Gloucester

Gloucestershire

GL3 3SH

BANKERS:

National Westminster Bank Plc

21 Eastgate Street

Gloucester

GL1 1NH

FIXED ASSETS

Tangible assets

4

5,775

2,189

CURRENT ASSETS

Stocks

13,637

3,223

Debtors

5

26,501

30,763

Cash at bank and in hand

1,306

11,114

41,444

45,100

CREDITORS

Amounts falling due within one year

6

27,403

31,465

NET CURRENT ASSETS

14,041

13,635

TOTAL ASSETS LESS CURRENT LIABILITIES

19,816

15,824

CREDITORS

Amounts falling due after more than one year

7

(1,222

)

-

PROVISIONS FOR LIABILITIES

(1,097

)

-

NET ASSETS

17,497

15,824

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

17,496

15,823

SHAREHOLDERS' FUNDS

17,497

15,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 2 April 2019 and were signed on its behalf by:

S Mills - Director

1.	STATUTORY INFORMATION

Spectrum Facilities Management Services Ltd is a private company, limited by shares , registered in

England and Wales. The company's registered number and registered office address can be found on

the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

Cost

At 1 October 2017

2,918

-

2,918

Additions

6,770

357

7,127

Disposals

(2,100

)

-

(2,100

)

At 30 September 2018

7,588

357

7,945

Depreciation

At 1 October 2017

729

-

729

Charge for year

1,847

119

1,966

Eliminated on disposal

(525

)

-

(525

)

At 30 September 2018

2,051

119

2,170

Net book value

At 30 September 2018

5,537

238

5,775

At 30 September 2017

2,189

-

2,189

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

Cost

Additions

4,450

At 30 September 2018

4,450

Depreciation

Charge for year

1,113

At 30 September 2018

1,113

Net book value

At 30 September 2018

3,337

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/18

30/9/17

£

£

Trade debtors

26,339

30,763

Other debtors

162

-

26,501

30,763

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/18

30/9/17

£

£

Hire purchase contracts

2,394

-

Trade creditors

8,536

10,852

Taxation and social security

15,146

18,789

Other creditors

1,327

1,824

27,403

31,465

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/9/18

30/9/17

£

£

Hire purchase contracts

1,222

-