Spaghetti Assets Ltd - Accounts to registrar - small 16.3d
Spaghetti Assets Ltd - Accounts to registrar - small 16.3d
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period 1 September 2016 to 31 March 2017 |
| for |
| Spaghetti Assets Ltd |
| Spaghetti Assets Ltd (Registered number: 08485302) |
| Contents of the Financial Statements |
| for the Period 1 September 2016 to 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Spaghetti Assets Ltd |
| Company Information |
| for the Period 1 September 2016 to 31 March 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANT: |
| Chartered Accountants |
| 63 Bawtry Road |
| Bramley |
| Rotherham |
| South Yorkshire |
| S66 2TN |
| Spaghetti Assets Ltd (Registered number: 08485302) |
| Balance Sheet |
| 31 March 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Spaghetti Assets Ltd (Registered number: 08485302) |
| Balance Sheet - continued |
| 31 March 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| Spaghetti Assets Ltd (Registered number: 08485302) |
| Notes to the Financial Statements |
| for the Period 1 September 2016 to 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Spaghetti Assets Ltd is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Spaghetti Assets Ltd as an individual company and do not |
| contain consolidated financial information as the parent of a group. The company has taken the option under |
| Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| Spaghetti Assets Ltd (Registered number: 08485302) |
| Notes to the Financial Statements - continued |
| for the Period 1 September 2016 to 31 March 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2016 |
| Additions |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 September 2016 |
| Charge for period |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 August 2016 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 September 2016 |
| and 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 August 2016 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| Spaghetti Assets Ltd (Registered number: 08485302) |
| Notes to the Financial Statements - continued |
| for the Period 1 September 2016 to 31 March 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Loans: Connected companies | 161,070 | 165,470 |
| Deferred tax asset |
| Called up share capital not paid |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 11,650 | 10,600 |
| Directors' current accounts | - | 619 |
| Accrued expenses |
| 8. | PROVISIONS FOR LIABILITIES |
| 2017 |
| £ |
| Deferred tax | 5,252 |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2016 | ( |
) |
| Accelerated capital allowances | 5,068 |
| Losses cr fwd | 2,279 |
| Balance at 31 March 2017 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 3 | 3 |
| Spaghetti Assets Ltd (Registered number: 08485302) |
| Notes to the Financial Statements - continued |
| for the Period 1 September 2016 to 31 March 2017 |
| 10. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 September 2016 |
| Profit for the period |
| Dividends | ( |
) |
| At 31 March 2017 |
| 11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the period ended 31 March 2017 and the year |
| ended 31 August 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of period | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of period | ( |
) |
| 12. | RELATED PARTY DISCLOSURES |
| During the period, total dividends of £65,898 (2016 - £56,882) were paid to the director . |
| Spaghetti Assets Ltd (Registered number: 08485302) |
| Notes to the Financial Statements - continued |
| for the Period 1 September 2016 to 31 March 2017 |
| 12. | RELATED PARTY DISCLOSURES - continued |
| Spaghetti Construction Ltd |
| A wholly owned subsidiary of Spaghetti Assets Ltd. |
| The company made sales to Spaghetti Construction Ltd £39,000, (2016: £53,308). |
| There was a trade debtors balance £83,800, (£2016: £48,000). |
| Dividends of £62,739 were received, (2016: £44,000). |
| Monies were loaned between the companies on an interest free basis, the balance owed from Spaghetti |
| Construction Ltd £19,400. |
| At 31st August 2016 Spaghetti Construction Ltd were owed £100. |
| Direct Special Metals Ltd |
| A company in which Mr M Hartley is a shareholder. |
| Monies were loaned between the companies on an interest free basis, the balance owed from Direct Special |
| Metals Ltd £160,000, (2016: £160,000). |
| Big Bush Ltd |
| A company in which Mr M Hartley is a shareholder |
| Big Bush Ltd charged management fees of £10,000, (2016: £23,888). |
| There was a trade creditors balance £12,000, (2016: £Nil). |
| Monies were loaned between the companies on an interest free basis, the balance owed from Big Bush Ltd |
| £1,070, (2016: £1,070). |
| 13. | ULTIMATE CONTROLLING PARTY |
| The controlling party is M Hartley. |