SPINNAKER_GLOBAL_LIMITED - Accounts

SPINNAKER GLOBAL LIMITED - Company Information

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Company Registration No. 03307545 (England and Wales)

SPINNAKER GLOBAL LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

LB GROUP

Onslow House

62 Broomfield Road

Chelmsford

Essex

CM1 1SW

SPINNAKER GLOBAL LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SPINNAKER GLOBAL LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

23,079

36,484

Current assets

Debtors

236,482

241,293

Cash at bank and in hand

97,943

28,563

334,425

269,856

Creditors: amounts falling due within one year

(268,461)

(223,652)

Net current assets

65,964

46,204

Total assets less current liabilities

89,043

82,688

Provisions for liabilities

(4,800)

(7,500)

84,243

75,188

Capital and reserves

Called up share capital

8,551

8,502

Share premium account

85,608

76,540

Other reserves

(10,274)

Profit and loss account

358

420

Shareholders' funds

84,243

75,188

For the financial year ended 30 September 2016 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 6 December 2016

Mr Parry

Mr Cox

Director

Company Registration No. 03307545

SPINNAKER GLOBAL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 2 -

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 January 2015).

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

Tangible fixed assets and depreciation

Tangible fixed assets 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:

Leasehold Improvements

20% Straight Line

Office Equipment

20% Reducing Balance

Computer equipment

3 years straight line

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

SPINNAKER GLOBAL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 October 2015

327,038

Additions

4,759

At 30 September 2016

331,797

Depreciation

At 1 October 2015

290,553

Charge for the year

18,165

At 30 September 2016

308,718

Net book value

At 30 September 2016

23,079

At 30 September 2015

36,484

Share capital

2016

2015

Allotted, called up and fully paid

85,490 Ordinary of 10p each

8,549

8,500

1 Ordinary B of £1 each

1 Ordinary C of £1 each

8,551

8,502

During the year the company issued 487 Ordinary shares at nominal value £0.10.