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 2020

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

2,995

3,455

Investments

5

122,710

118,259

125,705

121,714

Current assets

Debtors

6

87,510

327,459

Cash at bank

544,515

357,272

632,025

684,731

Creditors

Amounts falling due within one year

7

45,126

72,890

Net current assets

586,899

611,841

Total assets less current liabilities

712,604

733,555

Provisions for liabilities

12,454

11,689

Net assets

700,150

721,866

Capital and reserves

Called up share capital

1

1

Other reserves

62,710

58,259

Retained earnings

637,439

663,606

Shareholders' funds

700,150

721,866

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 30 April 2021 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.

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 (2019 - 3 ) .

4.	Tangible fixed assets

Computer

equipment

£

Cost

At 1 January 2020

11,444

Additions

554

At 31 December 2020

11,998

Depreciation

At 1 January 2020

7,989

Charge for year

1,014

At 31 December 2020

9,003

Net book value

At 31 December 2020

2,995

At 31 December 2019

3,455

5.	Fixed asset investments

Investments (neither listed nor unlisted) were as follows:

31.12.20

31.12.19

£

£

Investment bond at valuation

102,445

102,445

Revaluations

20,265

15,814

122,710

118,259

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

31.12.20

31.12.19

£

£

Trade debtors

36,510

276,459

Other debtors

51,000

51,000

87,510

327,459

7.

Creditors: amounts falling due within one year

31.12.20

31.12.19

£

£

Trade creditors

6,338

27,402

Taxation and social security

12,625

34,799

Other creditors

26,163

10,689

45,126

72,890

8.	Related party disclosures

Included within other debtors is a £51,000 loan (2019 : £51,000) 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.