Stamplay Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 08168198

Stamplay Limited

Filleted Unaudited Financial Statements

31 December 2018

Stamplay Limited

Financial Statements

Year ended 31 December 2018

Contents	Page

Officers and professional advisers	1

Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Stamplay Limited

Officers and Professional Advisers

The board of directors	N B Mattina
	G Iacobelli

Company secretary	Abogado Nominees Limited

Registered office	100 New Bridge Street
	London
	EC4V 6JA

Accountants	Complete Accounting Solutions
	Chartered Certified Accountants
	727-729 High Road
	London
	N12 0BP

Stamplay Limited

Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Stamplay Limited

Year ended 31 December 2018

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2018, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Complete Accounting Solutions Chartered Certified Accountants

727-729 High Road London N12 0BP

Stamplay Limited

Statement of Financial Position

31 December 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		1,004	–

Current assets

Debtors	6	63,477	23,412
Cash at bank and in hand		48,169	42,722
		---------	--------
		111,646	66,134

Creditors: amounts falling due within one year	7	306,693		313,866
		---------		---------
Net current liabilities			195,047	247,732
			---------	---------
Total assets less current liabilities			( 194,043)	( 247,732)
			---------	---------
Net liabilities			( 194,043)	( 247,732)
			---------	---------

Capital and reserves

Called up share capital	2,562	2,562
Share premium account	284,511	284,511
Profit and loss account	( 481,116)	( 534,805)
	---------	---------
Shareholders funds	( 194,043)	( 247,732)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Stamplay Limited

Statement of Financial Position (continued)

31 December 2018

These financial statements were approved by the board of directors and authorised for issue on 29 January 2019 , and are signed on behalf of the board by:

G Iacobelli	S Wahlstrom
Director	Director

Company registration number: 08168198

Stamplay Limited

Notes to the Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 100 New Bridge Street, London, EC4V 6JA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Short-term employee benefits

The company accrues for unused holiday pay for employees at each balance sheet date as and when incurred.

Going concern

In our opinion, on the basis of information and enquiries that are pertinent to the company's circumstances and which we believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular we believe that adequate cash resources will be available to cover the company's requirements for working capital for at least twelve months from the date of signing the financial statements.

Judgements and key sources of estimation uncertainty

No significant judgements have had to be made by the directors in preparing these financial statements .

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	33% straight line
Office Equipment	-	33% straight line

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2017: 5 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2018	–	1,232	1,232
Additions	725	614	1,339
	----	-------	-------
At 31 December 2018	725	1,846	2,571
	----	-------	-------
Depreciation
At 1 January 2018	–	1,232	1,232
Charge for the year	181	154	335
	----	-------	-------
At 31 December 2018	181	1,386	1,567
	----	-------	-------
Carrying amount
At 31 December 2018	544	460	1,004
	----	-------	-------
At 31 December 2017	–	–	–
	----	-------	-------

6. Debtors

	2018	2017
	£	£
Trade debtors	10,697	13,114
Other debtors	52,780	10,298
	--------	--------
	63,477	23,412
	--------	--------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	322	14,966
Social security and other taxes	4,880	1,500
Other creditors	301,491	297,400
	---------	---------
	306,693	313,866
	---------	---------

Included within other creditors above is £278,380 of convertible debt .