Spacebrand Interiors Ltd - Period Ending 2016-05-31

Registration number: 05825770

Spacebrand Interiors Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

MG Group (Professional Services) Ltd
Chartered Accountants
Audit House
260 Field End Road
Eastcote
Middlesex
HA4 9LT

Spacebrand Interiors Ltd
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 Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Spacebrand Interiors Ltd
for the Year Ended 31 May 2016

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

It is your duty to ensure that Spacebrand Interiors Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Spacebrand Interiors Ltd. You consider that Spacebrand Interiors Ltd 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 Spacebrand Interiors Ltd. 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.

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

MG Group (Professional Services) Ltd
Chartered Accountants
Audit House
260 Field End Road
Eastcote
Middlesex
HA4 9LT

28 February 2017

Page 1

Spacebrand Interiors Ltd
(Registration number: 05825770)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					312			-
Current assets
Debtors					39,555			16,408
Cash at bank and in hand					-			5,835
					39,555			22,243
Creditors: Amounts falling due within one year					(38,519)			(21,113)
Net current assets					1,036			1,130
Net assets					1,348			1,130
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					348			130
Shareholders' funds					1,348			1,130

For the year ending 31 May 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 directors acknowledge their 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 Board on 28 February 2017 and signed on its behalf by:

.........................................
Mr Stuart Edney
Director

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

Spacebrand Interiors Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 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).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

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	25% straight line

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		375			375
At 31 May 2016		375			375
Depreciation
Charge for the year		63			63
At 31 May 2016		63			63
Net book value
At 31 May 2016		312			312

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

Page 3

Spacebrand Interiors Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

4	Related party transactions

Other related party transactions
 
 During the year the company made the following realated party transactions:
Mr Stuart Edney
(Director)
During the year Mr Stuart Edney received loans from the company. Interest was charged at an annual rate of 3%. The maximum amount owed to the company during the year was £31,288. At the balance sheet date the amount due from Mr Stuart Edney was £29,354 ( 2015 - £16,408).

Page 4