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Registered Number: 10796932


 

 

 

HOT SPONGE LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 06 April 2021

End date: 31 December 2021
Director Mr Matthew Edward Lees
Registered Number 10796932
Registered Office 26 BOUNDARIES MANSIONS
BOUNDARIES ROAD LONDON
SW12 8EZ
Accountants Worth Knowing Accountants Ltd
S14, 22.25 Portman Close,
London
W1H6BS
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 December 2021.
Principal activities
Principal activity of the company during the financial period was of Video production activities.
Director

The director who served the company throughout the period was as follows:
Mr Matthew Edward Lees

Statement of director's responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Mr Matthew Edward Lees
Director

Date approved: 07 September 2022
2
Accountants report
You consider that the company is exempt from an audit for the year ended 31 December 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
31 December 2021



....................................................
Worth Knowing Accountants Ltd
S14, 22.25 Portman Close,
London
W1H6BS
07 September 2022
3
 
 
Notes
 
2021
£
  2021
£
Fixed assets      
Tangible fixed assets 3 757    932 
757    932 
Current assets      
Debtors 4 3,294    2,996 
Cash at bank and in hand 1,364    222 
4,658    3,218 
Creditors: amount falling due within one year 5 (4,029)   (3,972)
Net current assets 629    (754)
 
Total assets less current liabilities 1,386    178 
Provisions for liabilities 6 (144)   (177)
Net assets 1,242    1 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 1,241   
Shareholder's funds 1,242    1 
 


For the period ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 07 September 2022 and were signed by:


--------------------------------
Mr Matthew Edward Lees
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 06 April 2020 1  392  393 
Profit for the period 1,247  1,247 
Total comprehensive income for the period 1,247  1,247 
Dividends (1,639) (1,639)
Total investments by and distributions to owners (1,639) (1,639)
At 05 April 2021 1 
At 06 April 2021 1 
Profit for the period 4,241  4,241 
Total comprehensive income for the period 4,241  4,241 
Dividends (3,000) (3,000)
Total investments by and distributions to owners (3,000) (3,000)
At 31 December 2021 1  1,241  1,242 
5
General Information
HOT SPONGE LTD is a private company, limited by shares, registered in , registration number 10796932, registration address 26 BOUNDARIES MANSIONS, BOUNDARIES ROAD LONDON, , SW12 8EZ

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.


Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.


Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
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:
Computer Equipment 33% Straight Line
Fixtures and Fittings 25% Reducing Balance
2.

Average number of employees

Average number of employees during the period was 0 (2021 : 0).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 06 April 2021 1,958    1,794    3,752 
Additions    
Disposals    
At 31 December 2021 1,958    1,794    3,752 
Depreciation
At 06 April 2021 1,026    1,794    2,820 
Charge for period 175      175 
On disposals    
At 31 December 2021 1,201    1,794    2,995 
Net book values
Closing balance as at 31 December 2021 757      757 
Opening balance as at 06 April 2021 932      932 


4.

Debtors: amounts falling due within one year

2021
£
  2021
£
Trade Debtors   150 
Directors' Current Accounts 3,294    2,846 
3,294    2,996 

5.

Creditors: amount falling due within one year

2021
£
  2021
£
Corporation Tax 1,254    2,232 
Accruals and deferred income 900    900 
Other creditors 1,875    1,876 
Halifax Business Credit Card   (1,036)
4,029    3,972 

6.

Provisions for liabilities

2021
£
  2021
£
Deferred Tax 144    177 
144    177 

6