Speedform Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05544709 (England and Wales)

Financial Statements for the Year Ended 31st July 2017

for

Speedform Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C P Barnett

SECRETARY:

REGISTERED OFFICE:

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

REGISTERED NUMBER:

05544709 (England and Wales)

ACCOUNTANTS:

The Richards Sandy Partnership

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

FIXED ASSETS

Intangible assets

4

25,750

35,650

Tangible assets

5

48,638

62,361

74,388

98,011

CURRENT ASSETS

Debtors

89,674

53,540

Cash at bank and in hand

33,050

26,380

122,724

79,920

CREDITORS

Amounts falling due within one year

79,257

69,554

NET CURRENT ASSETS

43,467

10,366

TOTAL ASSETS LESS CURRENT LIABILITIES

117,855

108,377

CREDITORS

Amounts falling due after more than one year

(10,846

)

(22,515

)

PROVISIONS FOR LIABILITIES

(10,322

)

(12,472

)

NET ASSETS

96,687

73,390

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

96,686

73,389

SHAREHOLDERS' FUNDS

96,687

73,390

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st July 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 27th April 2018 and were signed by:

C P Barnett - Director

1.	STATUTORY INFORMATION

Speedform 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.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

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.

TANGIBLE FIXED ASSETS

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

Motor vehicles

-

25% on reducing balance

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st August 2016

and 31st July 2017

50,500

AMORTISATION

At 1st August 2016

14,850

Amortisation for year

9,900

At 31st July 2017

24,750

NET BOOK VALUE

At 31st July 2017

25,750

At 31st July 2016

35,650

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st August 2016

101,416

Additions

11,107

Disposals

(15,000

)

At 31st July 2017

97,523

DEPRECIATION

At 1st August 2016

39,055

Charge for year

14,444

Eliminated on disposal

(4,614

)

At 31st July 2017

48,885

NET BOOK VALUE

At 31st July 2017

48,638

At 31st July 2016

62,361