Sphere Office Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04609341 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

Sphere Office Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G R Ellis

SECRETARY:

REGISTERED OFFICE:

34 Bettws-y-Coed Road

Cardiff

South Glamorgan

CF23 6PL

REGISTERED NUMBER:

04609341 (England and Wales)

ACCOUNTANTS:

Curtis Bowden & Thomas Limited

Chartered Certified Accountants

101 Dunraven Street

Tonypandy

CF40 1AR

Fixed assets

Tangible assets

4

3,455

226

Investments

5

118,259

102,445

121,714

102,671

Current assets

Debtors

6

327,459

145,152

Cash at bank

357,272

568,809

684,731

713,961

Creditors

Amounts falling due within one year

7

72,890

108,541

Net current assets

611,841

605,420

Total assets less current liabilities

733,555

708,091

Provisions for liabilities

11,689

8,063

Net assets

721,866

700,028

Capital and reserves

Called up share capital

1

1

Other reserves

58,259

42,445

Retained earnings

663,606

657,582

Shareholders' funds

721,866

700,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 29 April 2020 and were signed by:

G R Ellis - Director

1.	STATUTORY INFORMATION

Sphere Office Solutions 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.

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 as modified by the revaluation of certain assets.

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.

Plant and machinery etc

-

33% on reducing balance

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 balance sheet date.

Deferred tax

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

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 3 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

Cost

At 1 January 2019

8,140

Additions

3,304

At 31 December 2019

11,444

Depreciation

At 1 January 2019

7,914

Charge for year

75

At 31 December 2019

7,989

Net book value

At 31 December 2019

3,455

At 31 December 2018

226

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.12.19

31.12.18

£

£

Investment bond at valuation

102,445

164,166

Disposals

-

(50,000

)

Revaluations

15,814

(11,721

)

118,259

102,445

If investments had not been revalued they would have been included at their historic cost of £60,000.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

276,459

97,152

Other debtors

51,000

48,000

327,459

145,152

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

27,402

72,036

Taxation and social security

34,799

26,407

Other creditors

10,689

10,098

72,890

108,541

8.	RELATED PARTY DISCLOSURES

Included within other creditors is an amount of £3,053 (2018 : £2,054) owed to Mr G Ellis sole director of the company.

This loan is interest free and repayable within 1 year.

Included within other debtors is a £51,000 loan (2018 : £48,000) to Backstedt Bike Performance Limited, a company in

which Mr Ellis is a director and Sphere Office Solutions Limited is a 33% shareholder. This loan is interest free and

re-payable on demand.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is G R Ellis.