Sparta Ventures Limited - Limited company accounts 16.3

REGISTERED NUMBER: 06084051 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

SPARTA VENTURES LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

M J Cumper

D A Cumper

REGISTERED OFFICE:

Oakhanger

Boughton Hall Avenue

Send

Surrey

GU23 7DF

REGISTERED NUMBER:

06084051 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 31 December 2016.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of property development.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2016 to the date of this

report.

M J Cumper

D A Cumper

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

M J Cumper - Director

22 September 2017

TURNOVER

33,576

102,000

Cost of sales

22,553

89,906

GROSS PROFIT

11,023

12,094

Administrative expenses

7,191

5,733

OPERATING PROFIT

3,832

6,361

Interest receivable and similar income

-

66

PROFIT BEFORE TAXATION

3,832

6,427

Tax on profit

650

1,442

PROFIT FOR THE FINANCIAL YEAR

3,182

4,985

CURRENT ASSETS

Debtors

3

35,063

7,357

Cash at bank

2,113

16,207

37,176

23,564

CREDITORS

Amounts falling due within one year

4

36,646

26,216

NET CURRENT ASSETS/(LIABILITIES)

530

(2,652

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

530

(2,652

)

CAPITAL AND RESERVES

Called up share capital

1,500

Retained earnings

(970

)

(4,152

)

SHAREHOLDERS' FUNDS

530

(2,652

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 September 2017 and were signed on its behalf
by:

M J Cumper - Director

1.	STATUTORY INFORMATION

Sparta Ventures Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

Trade debtors

33,576

-

Other debtors

1,487

7,357

35,063

7,357

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

Taxation and social security

-

5

Other creditors

36,646

26,211

36,646

26,216

5.	RELATED PARTY DISCLOSURES

During the year sales totalling £0 (2015 £102,000) were invoiced to Silverwood Partnership whose partners are

the shareholders of Sparta Ventures Limited.

During the year the company incurred costs of £0 (2015 £87,061) from Bridgewater New Homes Limited, a

company of which M J Cumper is a director.