Spinnaker Sports & Leisurewear Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03101358 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2018

FOR

SPINNAKER SPORTS & LEISUREWEAR LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr G Reynolds

SECRETARY:

Mr J Jeffrey

REGISTERED OFFICE:

126 Acre Road

Kingston

Surrey

KT2 6EN

REGISTERED NUMBER:

03101358 (England and Wales)

ACCOUNTANTS:

Alex Johnson Limited

Chartered Certified Accountants

344 - 354 Grays Inn Road

London

WC1X 8BP

FIXED ASSETS

Property, plant and equipment

4

4,255

4,852

CURRENT ASSETS

Inventories

3,750

10,985

Debtors

5

25,684

36,635

Cash at bank and in hand

2,762

2,761

32,196

50,381

CREDITORS

Amounts falling due within one year

6

28,901

42,118

NET CURRENT ASSETS

3,295

8,263

TOTAL ASSETS LESS CURRENT LIABILITIES

7,550

13,115

CAPITAL AND RESERVES

Called up share capital

60,000

60,000

Retained earnings

(52,450

)

(46,885

)

SHAREHOLDERS' FUNDS

7,550

13,115

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

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

The director acknowledges his 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 director on 24th June 2019 and were signed by:

Mr G Reynolds - Director

1.	STATUTORY INFORMATION

Spinnaker Sports & Leisurewear Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Revenue 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.

Plant and machinery etc

-

20% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1st October 2017

128,216

Additions

466

At 30th September 2018

128,682

DEPRECIATION

At 1st October 2017

123,364

Charge for year

1,063

At 30th September 2018

124,427

NET BOOK VALUE

At 30th September 2018

4,255

At 30th September 2017

4,852

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

25,684

36,635

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

6,288

7,831

Trade creditors

4,457

10,435

Taxation and social security

4,495

16,352

Other creditors

13,661

7,500

28,901

42,118