Spenceram Limited - Period Ending 2016-03-31

Registration number: 07999403

Spenceram Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
S1 1WR

Spenceram 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.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Spenceram Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Spenceram Limited for the year ended 31 March 2016 set out on pages 4 to 9 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 Spenceram 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 Spenceram 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 Spenceram Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Spenceram 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 Spenceram Limited. You consider that Spenceram 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 Spenceram 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.

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

Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
S1 1WR

30 December 2016

Page 1

Spenceram Limited
(Registration number: 07999403)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			547			3,039
Current assets
Debtors					1,225			96,367
Cash at bank and in hand					160,840			121,204
					162,065			217,571
Creditors: Amounts falling due within one year					(234,769)			(161,825)
Net current (liabilities)/assets					(72,704)			55,746
Net (liabilities)/assets					(72,157)			58,785
Capital and reserves
Called up share capital		3			3			3
Share premium account					1,840,000			1,500,000
Profit and loss account					(1,912,160)			(1,441,218)
Shareholders' (deficit)/funds					(72,157)			58,785

For the year ending 31 March 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 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the director on 30 December 2016

.........................................
C S Bowden
Director

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

Spenceram Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 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, with the continued support of the directors and shareholders.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers in respect of international energy consultancy work. Revenue is recognised net of rebates and discounts on the transfer of significant risks and rewards of ownership to the buyer.

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.

Asset class	Depreciation method and rate
Computer equipment	3 years straight line

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.

Page 3

Spenceram Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		10,569			10,569
At 31 March 2016		10,569			10,569
Depreciation
At 1 April 2015		7,530			7,530
Charge for the year		2,492			2,492
At 31 March 2016		10,022			10,022
Net book value
At 31 March 2016		547			547
At 31 March 2015		3,039			3,039

3	Share capital

		2016		2015
	No.	£	No.	£
Allotted, called up and fully paid shares
Ordinary shares of £0.001 each	1,325	1.325	1,000	1
Allotted, partly paid shares
Ordinary shares of £0.001 each	175	0.135	500	0.375
Allotted, called up and fully paid shares
Preference shares of £0.001 each	2,000	2	2,000	2

On 4 September 2013, 500 partly paid Ordinary shares with nominal value of £0.001 each were issued at £4,000 per share. At the year end, 325 of these shares had been fully paid up. Of the remaining 175 partly paid shares, £160,000 is yet to be called up.

Page 4