The Speakers Circuit Limited - Period Ending 2016-07-31

Registration number: 5182874

The Speakers Circuit Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

Ludlow Painter Limited
Accountants
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN

The Speakers Circuit Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
The Speakers Circuit Limited
for the Year Ended 31 July 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Speakers Circuit Limited for the year ended 31 July 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of The Speakers Circuit 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 The Speakers Circuit Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Speakers Circuit Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Speakers Circuit 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 loss of The Speakers Circuit Limited. You consider that The Speakers Circuit 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 The Speakers Circuit 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.

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

Ludlow Painter Limited
Accountants
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN

3 November 2016

Page 1

The Speakers Circuit Limited
(Registration number: 5182874)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					1,405			2,405
Tangible fixed assets					-			67
					1,405			2,472
Current assets
Cash at bank and in hand					581			1,128
Creditors: Amounts falling due within one year					(28,394)			(23,955)
Net current liabilities					(27,813)			(22,827)
Net liabilities					(26,408)			(20,355)
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(26,410)			(20,357)
Shareholders' deficit					(26,408)			(20,355)

For the year ending 31 July 2016 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 her 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 3 November 2016

.........................................
Ms Laura Beatrice Collins
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

The Speakers Circuit Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... 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 January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of 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	Goodwill is being written off in equal annual instalments over its estimated economic life.

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
Office equipment	20% reducing balance

2	Fixed assets

Page 3

The Speakers Circuit Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 August 2015		25,000			447			25,447
At 31 July 2016		25,000			447			25,447
Depreciation
At 1 August 2015		22,595			380			22,975
Charge for the year		1,000			67			1,067
At 31 July 2016		23,595			447			24,042
Net book value
At 31 July 2016		1,405			-			1,405
At 31 July 2015		2,405			67			2,472

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 4