Spike Global Limited - Accounts to registrar (filleted) - small 18.2
Spike Global Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Period 1 October 2018 to 31 December 2019 |
| for |
| Spike Global Limited |
| Spike Global Limited (Registered number: 07783597) |
| Contents of the Financial Statements |
| for the Period 1 October 2018 to 31 December 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Spike Global Limited |
| Company Information |
| for the Period 1 October 2018 to 31 December 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants |
| The Mills |
| Canal Street |
| Derby |
| DE1 2RJ |
| Spike Global Limited (Registered number: 07783597) |
| Balance Sheet |
| 31 December 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium | 9 |
| Retained earnings | 9 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Spike Global Limited (Registered number: 07783597) |
| Notes to the Financial Statements |
| for the Period 1 October 2018 to 31 December 2019 |
| 1. | STATUTORY INFORMATION |
| Spike Global Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared on a going concern basis despite losses continuing to arise after the period end. The company is in its development phase, therefore the directors expect losses to continue over the next few years whilst still in this phase, but with continued support from external investors the directors anticipate they can continue as a going concern. |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax, and is recognised in the period in which the services were provided. |
| Intangible fixed assets |
| Software licences which provide future economic benefits to the company are capitalised and have been amortised evenly over their estimated useful life of 5 years. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Deferred tax |
| Provision is made at current rates for taxation deferred in respect of all material timing differences. |
| A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences and losses can be deducted. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| Spike Global Limited (Registered number: 07783597) |
| Notes to the Financial Statements - continued |
| for the Period 1 October 2018 to 31 December 2019 |
| 4. | INTANGIBLE FIXED ASSETS |
| Licences |
| £ |
| COST |
| At 1 October 2018 |
| and 31 December 2019 |
| AMORTISATION |
| At 1 October 2018 |
| and 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 30 September 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2018 |
| Additions |
| At 31 December 2019 |
| DEPRECIATION |
| At 1 October 2018 |
| Charge for period |
| At 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 30 September 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax |
| Deferred tax asset |
| Prepayments |
| Spike Global Limited (Registered number: 07783597) |
| Notes to the Financial Statements - continued |
| for the Period 1 October 2018 to 31 December 2019 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Debentures |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | - | 2,990 |
| Accrued expenses |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Debentures |
| Debentures are secured by way of a fixed and floating charge on certain assets of the company. |
| 9. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 1 October 2018 | ( |
) | (39,859 | ) |
| Deficit for the period | ( |
) | - | ( |
) |
| Cash share issue | - | 991,702 | 991,702 |
| At 31 December 2019 | ( |
) | (189,738 | ) |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | GOING CONCERN |
| The company's results for both financial periods were a loss and as such the company had net liabilities at the balance sheet date. From a review of the management accounts losses are still being recognised after the period end. Forecasts also indicate that losses will continue for the next few years whilst the company is in its development phase, and forecasts show that a cash deficit will occur three months from the date of the audit report, and will continue to increase without sufficient investments. The company has been successful in recent years in securing investments, including investments being received after the period end, and they are currently seeking further investments. |
| The directors have reviewed the financial results for the year in conjunction with the results after date and are of the opinion that the company will have sufficient resources to continue to trade for at least the next twelve months from the date of the audit report. |
| As a result the going concern basis has been adopted for the preparation of the financial statements. |