Spriggs Holder Services Limited - Period Ending 2015-07-31

Registration number: 04803544

Spriggs Holder Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2015
 

Blue Spire Limited
Chartered Accountants
Fifth Floor
Intergen House
65-67 Western Road
Hove
East Sussex
BN3 2JQ

Spriggs Holder Services Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Spriggs Holder Services Limited
for the Year Ended 31 July 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Spriggs Holder Services Limited for the year ended 31 July 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Spriggs Holder Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Spriggs Holder Services Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spriggs Holder Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Spriggs Holder Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Spriggs Holder Services Limited. You consider that Spriggs Holder Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Spriggs Holder Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Blue Spire Limited
Chartered Accountants
Fifth Floor
Intergen House
65-67 Western Road
Hove
East Sussex
BN3 2JQ

4 February 2016

Page 1

Spriggs Holder Services Limited
(Registration number: 04803544)
Abbreviated Balance Sheet at 31 July 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					16,205			399
Current assets
Stocks					1,480			200
Debtors					2,631			1,987
Cash at bank and in hand					2,507			9,821
					6,618			12,008
Creditors: Amounts falling due within one year					(10,712)			(9,716)
Net current (liabilities)/assets					(4,094)			2,292
Total assets less current liabilities					12,111			2,691
Creditors: Amounts falling due after more than one year					(4,567)			-
Net assets					7,544			2,691
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					7,444			2,591
Shareholders' funds					7,544			2,691

For the year ending 31 July 2015 the company was entitled to exemption 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 2 February 2016

.........................................
Mr M S Spriggs
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Spriggs Holder Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The directors have considered the foreseeable future of the company and are unable to identify any material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern. As a result they have adopted the going concern basis of accounting.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% straight line basis
Fixtures and fittings	15% straight line basis
Motor vehicles	25% straight line basis

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 3

Spriggs Holder Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 August 2014		14,000			29,247			43,247
Additions		-			21,463			21,463
Disposals		-			(2,750)			(2,750)
At 31 July 2015		14,000			47,960			61,960
Depreciation
At 1 August 2014		14,000			28,848			42,848
Charge for the year		-			5,657			5,657
Eliminated on disposals		-			(2,750)			(2,750)
At 31 July 2015		14,000			31,755			45,755
Net book value
At 31 July 2015		-			16,205			16,205
At 31 July 2014		-			399			399

Page 4

Spriggs Holder Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 5