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Sprint Property Acquisitions Ltd
For the year ended 31 March 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04769916
2
Contents Page
Sprint Property Acquisitions Ltd
For the year ended 31 March 2015
1
Accountants' Report
2
Balance Sheet
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Notes to the Abbreviated Financial Statements
3
Sprint Property Acquisitions Ltd
Accountants' Report
For the year ended 31 March 2015
As described in the balance sheet you are responsible for the preparation of the financial statements for the year
ended 31 March 2015 and you consider that the company is exempt from an audit under the Companies Act 2006 .
In accordance with your instructions , we have compiled these unaudited financial statements in order to assist you
to fulfil your statutory responsibilities , from the accounting records and information and explanations supplied to us .
John Fallows Accountants Ltd
Certified Practising Accountants
13 Lyndhurst Rd
Burnley
Lancashire
BB10 4ED
29 May 2015
Dated :
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4
Abbreviated Balance Sheet
Sprint Property Acquisitions Ltd
As at 31 March 2015
04769916
Registered Number :
£
£
2015
Notes
2014
Fixed assets
Tangible assets
2
15,127
13,227
15,127
13,227
Current assets
Debtors
7,622
7,725
Cash at bank and in hand
81,966
58,514
89,691
66,136
Creditors : amounts falling due within one year
(18,750)
(11,477)
47,386
78,214
Net current assets
Total assets less current liabilities
93,341
60,613
93,341
Net assets
60,613
Capital and reserves
Called up share capital
100
3
100
Profit and loss account
93,241
60,513
93,341
60,613
Shareholders funds
For the year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Date approved by the board: 29 May 2015
D Saunders Director
Signed on behalf of the board of directors
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Notes to the Abbreviated Financial Statements
Sprint Property Acquisitions Ltd
For the year ended 31 March 2015
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, exclusive of Value Added Tax and net of trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Pension Costs
The company operates a defined contribution pension scheme for the benefit of its directors / and employees .
Contributions payable are charged to the profit and loss account in the period in which they are payable .
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles
25% Reducing balance
Fixtures and Fittings
20% Reducing balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i . e . those contracts where substantially all the risks and
rewards of ownership have passed to the company , are included in the appropriate category of tangible fixed assets
and depreciated over the shorter of the lease term and their estimated expected useful lives .
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods .
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6
Notes to the Abbreviated Financial Statements
Sprint Property Acquisitions Ltd
For the year ended 31 March 2015
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
34,314
At 01 April 2014
5,732
Additions
At 31 March 2015
40,046
Depreciation
21,087
At 01 April 2014
3,832
Charge for year
24,919
At 31 March 2015
Net book values
At 31 March 2015
15,127
13,227
At 31 March 2014
3 Share capital
Allotted called up and fully paid
2015
2014
£
£
100 Ordinary shares of £ 1 . 00 each
100
100
100
100
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