Spektrum Interiors Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09919471 (England and Wales)

Financial Statements for the Year Ended 31 December 2017

for

Spektrum Interiors Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C James

REGISTERED OFFICE:

Unit 13 Industrial Estate

Sanders Way

Bromsgrove

Worcestershire

B61 7DG

REGISTERED NUMBER:

09919471 (England and Wales)

ACCOUNTANTS:

Matthew Squire (AFA) & Company

32 The Tything

Worcester

Worcestershire

WR1 1JL

FIXED ASSETS

Property, plant and equipment

5

5,323

6,653

CURRENT ASSETS

Inventories

19,825

12,316

Debtors

6

3,960

4,554

Cash at bank and in hand

13,293

5,086

37,078

21,956

CREDITORS

Amounts falling due within one year

7

(40,864

)

(20,045

)

NET CURRENT (LIABILITIES)/ASSETS

(3,786

)

1,911

TOTAL ASSETS LESS CURRENT LIABILITIES

1,537

8,564

CREDITORS

Amounts falling due after more than one year

8

-

(6,574

)

PROVISIONS FOR LIABILITIES

(1,065

)

(1,331

)

NET ASSETS

472

659

CAPITAL AND RESERVES

Called up share capital

100

2

Retained earnings

372

657

472

659

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 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.

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

The financial statements were approved by the director on 28 September 2018 and were signed by:

C James - Director

1.	STATUTORY INFORMATION

Spektrum Interiors 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.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of section 1a Small Entities of the

Financial Reporting Standard 102 - The financial reporting standard applicable in the UK and Republic Of Ireland,

and the Companies Act 2006. As this is the company's first set of Financial Statements, the company has decided to

early adopt the financial reporting requirements of FRS 102 section 1a, as is acceptable for accounting periods

beginning on or after 1 January 2015, but before 1 January 2016.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Stocks

Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing inventories to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

£

COST

At 1 January 2017

and 31 December 2017

8,317

DEPRECIATION

At 1 January 2017

1,664

Charge for year

1,330

At 31 December 2017

2,994

NET BOOK VALUE

At 31 December 2017

5,323

At 31 December 2016

6,653

6.

DEBTORS

31.12.17

31.12.16

£

£

Amounts falling due within one year:

Prepayments

2,085

2,679

Amounts falling due after more than one year:

Other debtors

1,875

1,875

Aggregate amounts

3,960

4,554

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

22,248

11,822

Tax

8,312

1,959

VAT

5,779

3,843

Other creditors

-

921

Accrued expenses

4,525

1,500

40,864

20,045

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Director's loan

-

6,574