Spin Brands Limited

Spin Brands Limited

SPIN BRANDS LIMITED - Company Information

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1 March 2020 false No description of principal activity Taxfiler 2021.16 10013007business:PrivateLimitedCompanyLtd2020-03-012021-02-28 100130072020-02-29 100130072020-03-012021-02-28 10013007business:AuditExempt-NoAccountantsReport2020-03-012021-02-28 10013007business:FullAccounts2020-03-012021-02-28 100130072021-02-28 10013007business:Director12020-03-012021-02-28 10013007business:Director22020-03-012021-02-28 10013007business:RegisteredOffice2020-03-012021-02-28 100130072020-02-29 10013007core:WithinOneYear2021-02-28 10013007core:WithinOneYear2020-02-29 10013007core:ShareCapital2021-02-28 10013007core:ShareCapital2020-02-29 10013007core:RetainedEarningsAccumulatedLosses2021-02-28 10013007core:RetainedEarningsAccumulatedLosses2020-02-29 10013007business:SmallEntities2020-03-012021-02-28 10013007countries:EnglandWales2020-03-012021-02-28 10013007core:FurnitureFittings2020-03-012021-02-28 10013007core:ComputerEquipment2020-03-012021-02-28 10013007core:IntangibleAssetsOtherThanGoodwill2020-02-29 10013007core:IntangibleAssetsOtherThanGoodwill2020-03-012021-02-28 10013007core:IntangibleAssetsOtherThanGoodwill2021-02-28 10013007core:PlantMachinery2020-02-29 10013007core:ComputerEquipment2020-02-29 10013007core:PlantMachinery2020-03-012021-02-28 10013007core:PlantMachinery2021-02-28 10013007core:ComputerEquipment2021-02-28 10013007core:AdditionsToInvestments2021-02-28 10013007core:AfterOneYear2021-02-28 10013007core:AfterOneYear2020-02-29 100130072019-03-012020-02-29 iso4217:GBP xbrli:pure
Company Registration No. 10013007 (England and Wales)
Spin Brands Limited Unaudited accounts for the year ended 28 February 2021
Spin Brands Limited Unaudited accounts Contents
Page
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Spin Brands Limited Company Information for the year ended 28 February 2021
Directors
Max Alexander Whicher Alex Bodini
Company Number
10013007 (England and Wales)
Registered Office
Mercury House 117 Waterloo Road Waterloo London SE18UL
Accountants
Enso Accountants Ltd
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Spin Brands Limited Statement of financial position as at 28 February 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
76,382 
51,322 
Tangible assets
5
12,782 
13,351 
Investments
6
26,800 
- 
115,964 
64,673 
Current assets
Debtors
7
229,277 
154,986 
Cash at bank and in hand
132,537 
87,002 
361,814 
241,988 
Creditors: amounts falling due within one year
8
(273,289)
(144,798)
Net current assets
88,525 
97,190 
Net assets
204,489 
161,863 
Capital and reserves
Called up share capital
20 
20 
Profit and loss account
204,469 
161,843 
Shareholders' funds
204,489 
161,863 
For the year ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2021 and were signed on its behalf by
Max Alexander Whicher Director Company Registration No. 10013007
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Spin Brands Limited Notes to the Accounts for the year ended 28 February 2021
1
Statutory information
Spin Brands Limited is a private company, limited by shares, registered in England and Wales, registration number 10013007. The registered office is Mercury House, 117 Waterloo Road, Waterloo, London, SE18UL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
5 Year Straight Line
Computer equipment
3 Year Straight Line
4
Intangible fixed assets
Other 
£ 
Cost
At 1 March 2020
51,322 
Additions
25,060 
At 28 February 2021
76,382 
Amortisation
At 1 March 2020
- 
At 28 February 2021
- 
Net book value
At 28 February 2021
76,382 
At 29 February 2020
51,322 
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Spin Brands Limited Notes to the Accounts for the year ended 28 February 2021
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2020
6,239 
14,247 
20,486 
Additions
270 
5,753 
6,023 
At 28 February 2021
6,509 
20,000 
26,509 
Depreciation
At 1 March 2020
1,889 
5,246 
7,135 
Charge for the year
895 
5,697 
6,592 
At 28 February 2021
2,784 
10,943 
13,727 
Net book value
At 28 February 2021
3,725 
9,057 
12,782 
At 29 February 2020
4,350 
9,001 
13,351 
6
Investments
Other investments 
£ 
Valuation at 1 March 2020
- 
Additions
26,800 
Valuation at 28 February 2021
26,800 
7
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
123,936 
127,070 
Accrued income and prepayments
12,666 
4,403 
Other debtors
28,475 
23,513 
165,077 
154,986 
Debtors: amounts falling due after more than one year
Other debtors
64,200 
- 
8
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
50,000 
- 
VAT
54,988 
35,848 
Trade creditors
15,734 
25,519 
Taxes and social security
99,243 
27,930 
Other creditors
1,823 
- 
Loans from directors
51,501 
51,501 
Accruals
- 
1,200 
Deferred income
- 
2,800 
273,289 
144,798 
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Spin Brands Limited Notes to the Accounts for the year ended 28 February 2021
9
Average number of employees
During the year the average number of employees was 25 (2020: 21).
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