Sparta Insurance Services Group Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11048674 (England and Wales)

SPARTA INSURANCE SERVICES GROUP LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Hunter

A P Doidge

SECRETARY:

REGISTERED OFFICE:

167 Turners Hill

Cheshunt

Hertfordshire

EN8 9BH

REGISTERED NUMBER:

11048674 (England and Wales)

ACCOUNTANTS:

Brindley Jacob

Chartered Accountants

167 Turners Hill

Cheshunt

Hertfordshire

EN8 9BH

FIXED ASSETS

Intangible assets

4

35,841

44,895

Investments

5

100

100

35,941

44,995

CURRENT ASSETS

Debtors

6

193,004

288,007

Cash at bank

233,882

47,547

426,886

335,554

CREDITORS

Amounts falling due within one year

7

231,836

380,558

NET CURRENT ASSETS/(LIABILITIES)

195,050

(45,004

)

TOTAL ASSETS LESS CURRENT LIABILITIES

230,991

(9

)

CREDITORS

Amounts falling due after more than one year

8

973,602

350,000

NET LIABILITIES

(742,611

)

(350,009

)

CAPITAL AND RESERVES

Called up share capital

1,176

1,176

Retained earnings

(743,787

)

(351,185

)

(742,611

)

(350,009

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 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 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 Board of Directors and authorised for issue on 27 July 2020 and were signed on its behalf by:

J Hunter - Director

A P Doidge - Director

1.	STATUTORY INFORMATION

Sparta Insurance Services Group 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 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortization and any impairment losses.

Computer software is being amortized evenly over its estimated useful life of five years.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 9 (2018 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 December 2018

and 30 November 2019

45,270

AMORTISATION

At 1 December 2018

375

Amortisation for year

9,054

At 30 November 2019

9,429

NET BOOK VALUE

At 30 November 2019

35,841

At 30 November 2018

44,895

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 December 2018

and 30 November 2019

100

NET BOOK VALUE

At 30 November 2019

100

At 30 November 2018

100

Sparta Broker Solutions Limited is a 100% subsidiary of the company.

This company has not traded as yet.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Trade debtors

190,233

267,687

Other debtors

1,176

20,320

Prepayments

1,595

-

193,004

288,007

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Trade creditors

188,710

126,097

Social security and other taxes

17,071

15,740

Other creditors

1,278

948

Accruals and deferred income

24,777

237,773

231,836

380,558

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.19

30.11.18

£

£

Daly Holdings Limited

970,000

350,000

Advent Solutions Management

Limited

3,602

-

973,602

350,000