SPYLAW_LTD - Accounts

SPYLAW LTD - Company Information

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Company Registration No. NI623810 (Northern Ireland)

SPYLAW LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

SPYLAW LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SPYLAW LTD

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

336,000

378,000

Tangible assets

45,896

23,300

381,896

401,300

Current assets

Stocks

22,431

18,539

Debtors

20,333

24,295

Cash at bank and in hand

31,070

25,783

73,834

68,617

Creditors: amounts falling due within one year

(196,592)

(301,484)

Net current liabilities

(122,758)

(232,867)

Total assets less current liabilities

259,138

168,433

Capital and reserves

Called up share capital

Profit and loss account

259,136

168,431

Shareholders' funds

259,138

168,433

For the financial year ended 31 July 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 and authorised for issue on 13 February 2017

Mrs. M Ingram

Director

Company Registration No. NI623810

SPYLAW LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

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) and the UK Statute comprising the companies Act 2006.

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 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:

Fixtures, fittings & equipment

20% straight line

Motor vehicles

25% reducing balance method

1.6

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.7

Stock

Stock is valued at the lower of cost and net realisable value.

1.8

Pensions

The pension costs charged in the financial statements represent the contributions payable by the company during the year. The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employees' service lives on the basis of contributions paid.

1.9

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.

SPYLAW LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 August 2015

420,000

29,184

449,184

Additions

37,681

At 31 July 2016

420,000

66,865

486,865

Depreciation

At 1 August 2015

42,000

5,884

47,884

Charge for the year

42,000

15,085

57,085

At 31 July 2016

84,000

20,969

104,969

Net book value

At 31 July 2016

336,000

45,896

381,896

At 31 July 2015

378,000

23,300

401,300

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary of £1 each