Sparkle CS Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07455827 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Sparkle CS Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

T J Ferrer

D H Godfrey

S Armstrong

REGISTERED OFFICE:

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

REGISTERED NUMBER:

07455827 (England and Wales)

ACCOUNTANTS:

Lawrence Grant

Chartered Accountants

and Reporting Accountants

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

FIXED ASSETS

Intangible assets

4

1,900,598

1,509,154

Tangible assets

5

83

363

1,900,681

1,509,517

CURRENT ASSETS

Debtors

6

197,882

194,575

Cash at bank

12,120

12,748

210,002

207,323

CREDITORS

Amounts falling due within one year

7

314,223

172,188

NET CURRENT (LIABILITIES)/ASSETS

(104,221

)

35,135

TOTAL ASSETS LESS CURRENT LIABILITIES

1,796,460

1,544,652

CREDITORS

Amounts falling due after more than one year

8

1,004,881

654,168

NET ASSETS

791,579

890,484

CAPITAL AND RESERVES

Called up share capital

83,099

82,965

Share premium

1,014,152

971,201

Retained earnings

(305,672

)

(163,682

)

SHAREHOLDERS' FUNDS

791,579

890,484

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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18 September 2017 and were signed on its behalf by:

D H Godfrey - Director

1.	STATUTORY INFORMATION

Sparkle CS Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

This is the first year in which the financial statements have been prepared under FRS102 1A.

Turnover

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

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

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 statement of financial position date.

Research and development

Expenditure on research and development is capitalised in the year in which it is incurred.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2015 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Computer

licences

software

Totals

£

£

£

COST

At 1 January 2016

8,000

1,501,154

1,509,154

Additions

40,700

350,744

391,444

At 31 December 2016

48,700

1,851,898

1,900,598

NET BOOK VALUE

At 31 December 2016

48,700

1,851,898

1,900,598

At 31 December 2015

8,000

1,501,154

1,509,154

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2016

and 31 December 2016

1,051

DEPRECIATION

At 1 January 2016

688

Charge for year

280

At 31 December 2016

968

NET BOOK VALUE

At 31 December 2016

83

At 31 December 2015

363

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

10,053

26,012

Other debtors

187,829

168,563

197,882

194,575

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

180,114

111,298

Taxation and social security

37,440

20,275

Other creditors

96,669

40,615

314,223

172,188

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Other creditors

1,004,881

654,168

9.	FINANCIAL INSTRUMENTS

Included in creditors due after one year is Convertible debt of £189,180 which carries interest at 2% and may be

converted into shares at a cost of £0.50 per share within five years. If the debt is repaid, a premium of up to 30%

will apply. £150,000 of this is a debenture secured against the assets of the company.

10.	RELATED PARTY DISCLOSURES

Included in Creditors due after more than one year is a joint loan of £328,143 (2015: £76,790) from D Godfrey

and S Armstrong, who are Directors. The loan is repayable on demand and interest was charged at the rate of

3.5% to the company.