Spezia Consultants Metals Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04484122 (England and Wales)

SPEZIA CONSULTANTS METALS LIMITED

ABBREVIATED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

J Meys

SECRETARY:

M Shore

REGISTERED OFFICE:

1st Floor

12 Old Bond Street

London

W1S 4PW

REGISTERED NUMBER:

04484122 (England and Wales)

ACCOUNTANTS:

Perrys Accountants Limited

Chartered Accountants

12 Old Bond Street

London

W1S 4PW

CURRENT ASSETS

Debtors

3,802,828

3,179,413

Investments

15,306

111,847

Cash at bank

86,504

949,304

3,904,638

4,240,564

CREDITORS

Amounts falling due within one year

4,831,772

4,545,251

NET CURRENT LIABILITIES

(927,134

)

(304,687

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(927,134

)

(304,687

)

CREDITORS

Amounts falling due after more than one year

84,933

93,246

NET LIABILITIES

(1,012,067

)

(397,933

)

CAPITAL AND RESERVES

Called up share capital

2

1,000

1,000

Profit and loss account

(1,013,067

)

(398,933

)

SHAREHOLDERS' FUNDS

(1,012,067

)

(397,933

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29 September 2014 and were signed by:

J Meys - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Financial instruments

The company uses derivative financial instruments in the form of forward contracts and foreign

exchange options to manage its exposure to commodity price and foreign exchange movements

arising from operating, financing and investing activities. Financial instruments are recognised in the

balance sheet when the company becomes party to the contractual provisions of the instruments. All

financial assets are designated at initial recognition and the company does not hold any derivative

financial instruments for trading purposes. Financial instruments are measured at their fair value using

quoted market prices, with all gains or losses being recognised through the profit and loss account.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

1,000

Ordinary

£1

1,000

1,000

3.	ULTIMATE PARENT COMPANY

The ultimate parent company is Sozacom Luxembourg S.A by virtue of their shareholdings.