Speed 9295 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04510176 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

SPEED 9295 LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTORS:

C J Royden

K A Lishman-Royden

SECRETARY:

B Royden

REGISTERED OFFICE:

Polsue Farm

Tregony

Truro

Cornwall

TR2 5SW

REGISTERED NUMBER:

04510176 (England and Wales)

ACCOUNTANTS:

Kelsall Steele Ltd

Chartered Accountants

Woodlands Court

Truro Business Park

Truro

Cornwall

TR4 9NH

CURRENT ASSETS

Debtors

4

52,127

-

CREDITORS

Amounts falling due within one year

5

(162,557

)

(66,551

)

NET CURRENT LIABILITIES

(110,430

)

(66,551

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(110,430

)

(66,551

)

PROVISIONS FOR LIABILITIES

(115,000

)

-

NET LIABILITIES

(225,430

)

(66,551

)

CAPITAL AND RESERVES

Called up share capital

6

945

945

Capital redemption reserve

55

55

Retained earnings

(226,430

)

(67,551

)

SHAREHOLDERS' FUNDS

(225,430

)

(66,551

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 1 September 2018 and were signed on its behalf by:

C J Royden - Director

1.	COMPANY INFORMATION

Speed 9295 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

The financial statements have been prepared in accordance with Financial Reporting Standard 102

Section 1A "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.

The financial statements are prepared in sterling which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest pound sterling.

Going concern

At the period end, the company balance sheet shows a net current liability and a deficiency of asset

position. However, the directors of the company pledge their ongoing support for the company for the

foreseeable future. Accordingly, the accounts have been prepared on a going concern basis.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and

Section 12 "Other Financial Instruments" of FRS102 to all of its financial instruments.

Financial assets and liabilities are recognised in the company's statement of financial position when

the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are classified into specified categories. The classification depends on

the nature and purpose of the financial asset or liability and is determined at the time of recognition.

Basic financial assets, which include trade and other receivables and cash and bank balances, are

initially measured at transaction price including transaction costs and are subsequently carried at

amortised cost using the effective interest method, unless the arrangement constitute a financing

transaction, where the transaction is measure at the present value of the future receipts discounted at

a market rate of interest.

Basic financial liabilities, which include trade and other payables are initially measured at transaction

price, unless the arrangement constitutes a financing transaction, where the debt instrument is

measured at the present value of the future payments discounted at a market rate of interest.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Inter-company Loan

7,650

-

Other debtors

44,477

-

52,127

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

327

-

Trade creditors

3,969

3,279

Taxation and social security

8,357

8,357

Other creditors

149,904

54,915

162,557

66,551

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

502

Ordinary A

£1

502

502

443

Ordinary B

£1

443

443

945

945

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Seaview (South West) Limited, a company incorporated

in England and Wales. The director, C J Royden is the ultimate controlling party by virtue of his

controlling interest in the parent company.