Scandinavian Press Agency Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04305590 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

Scandinavian Press Agency Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

T Sorvaag

SECRETARY:

Wilshers Associates

REGISTERED OFFICE:

1 Castle Row

Horticultural Place

London

W4 4JQ

REGISTERED NUMBER:

04305590 (England and Wales)

ACCOUNTANTS:

WILSHERS & CO

1 Castle Row

Horticultural Place

London

W4 4JQ

FIXED ASSETS

Intangible assets

2

-

5,000

Tangible assets

3

-

-

-

5,000

CURRENT ASSETS

Debtors

5,554

6,070

Cash at bank

287

1,252

5,841

7,322

CREDITORS

Amounts falling due within one year

32,961

31,222

NET CURRENT LIABILITIES

(27,120

)

(23,900

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(27,120

)

(18,900

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(27,121

)

(18,901

)

SHAREHOLDERS' FUNDS

(27,120

)

(18,900

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 19 December 2014 and were signed by:

T Sorvaag - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of nine years.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost and 10% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

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

the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

45,000

AMORTISATION

At 1 April 2013

40,000

Amortisation for year

5,000

At 31 March 2014

45,000

NET BOOK VALUE

At 31 March 2014

-

At 31 March 2013

5,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

17,068

DEPRECIATION

At 1 April 2013

and 31 March 2014

17,068

NET BOOK VALUE

At 31 March 2014

-

At 31 March 2013

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary shares

£1

1

1