Registered number
09708798
Sphere Event Management Ltd
Filleted Accounts
31 July 2024
Sphere Event Management Ltd
Registered number: 09708798
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 272 340
272 340
Current assets
Debtors 4 6,850 7,500
Cash at bank and in hand 11 12
6,861 7,512
Creditors: amounts falling due within one year 5 (5,000) (3,547)
Net current assets 1,861 3,965
Total assets less current liabilities 2,133 4,305
Creditors: amounts falling due after more than one year 6 (2,122) (3,322)
Net assets 11 983
Capital and reserves
Called up share capital 100 100
Profit and loss account (89) 883
Shareholder's funds 11 983
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Isobel Roberts
Director
Approved by the board on 24 April 2025
Sphere Event Management Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment 20% Reducing Balance Method
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Unrelieved tax losses 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 tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office Equipment Total
£ £
Cost
At 1 August 2023 1,108 1,108
At 31 July 2024 1,108 1,108
Depreciation
At 1 August 2023 768 768
Charge for the year 68 68
At 31 July 2024 836 836
Net book value
At 31 July 2024 272 272
At 31 July 2023 340 340
4 Debtors 2024 2023
£ £
Other debtors 6,850 7,500
6,850 7,500
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,699 1,990
Taxation and social security costs 1,401 657
Other creditors 900 900
5,000 3,547
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,122 3,322
2,122 3,322
7 Other information
Sphere Event Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
50a Clifford Way
Maidstone
Kent
ME16 8GD
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