SPINNAKER_LIMITED - Accounts

SPINNAKER_LIMITED - Accounts

SPINNAKER LIMITED - Company Information

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Company Registration No. 03289488 (England and Wales)
SPINNAKER LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2015
SPINNAKER LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
SPINNAKER LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2015
31 October 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
12,050
18,075
Tangible assets
2
680,669
738,194
Investments
2
1
1
692,720
756,270
Current assets
Stocks
5,000
5,000
Debtors
309,216
229,729
Cash at bank and in hand
86,098
68,055
400,314
302,784
Creditors: amounts falling due within one year
(72,959)
(75,645)
Net current assets
327,355
227,139
Total assets less current liabilities
1,020,075
983,409
Creditors: amounts falling due after more than one year
(124,000)
(200,000)
Provisions for liabilities
(36,811)
(45,139)
859,264
738,270
Capital and reserves
Called up share capital
3
300
300
Profit and loss account
858,964
737,970
Shareholders'  funds
859,264
738,270
SPINNAKER LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2015
31 October 2015
- 2 -
For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 4 July 2016
Mr R Hearth
Mr M Hearth
Director
Director
Company Registration No. 03289488
SPINNAKER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
- 3 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
2% straight line
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25%reducing balance
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
SPINNAKER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Investments
Total
£
£
£
£
Cost
At 1 November 2014
120,500
1,227,903
1
1,348,404
Additions
-
18,887
-
18,887
Disposals
-
(45,975)
-
(45,975)
At 31 October 2015
120,500
1,200,815
1
1,321,316
Depreciation
At 1 November 2014
102,425
489,709
-
592,134
On disposals
-
(20,397)
-
(20,397)
Charge for the year
6,025
50,834
-
56,859
At 31 October 2015
108,450
520,146
-
628,596
Net book value
At 31 October 2015
12,050
680,669
1
692,720
At 31 October 2014
18,075
738,194
1
756,270
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Heaven Sent Productions Ltd
Great  Britain
Ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
Heaven Sent Productions Ltd
Producing television and video material in the entertainment industry.
(497,129)
(23,299)
SPINNAKER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2015
- 5 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
200 Ordinary of £1 each
200
200
100 Ordinary A of £1 each
100
100
300
300
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