Deepglobe Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04460461 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2017

for

Deepglobe Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

David Street

SECRETARY:

Alison Jane Street

REGISTERED OFFICE:

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

BUSINESS ADDRESS:

61 South Lane

Clanfield

Waterlooville

Hampshire

PO8 0RX

REGISTERED NUMBER:

04460461 (England and Wales)

ACCOUNTANTS:

KT Accountants Limited

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

FIXED ASSETS

Tangible assets

4

1,835

2,448

CURRENT ASSETS

Debtors

5

5,748

29,501

Cash at bank

231,251

189,792

236,999

219,293

CREDITORS

Amounts falling due within one year

6

105,479

140,044

NET CURRENT ASSETS

131,520

79,249

TOTAL ASSETS LESS CURRENT LIABILITIES

133,355

81,697

PROVISIONS FOR LIABILITIES

360

490

NET ASSETS

132,995

81,207

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

132,895

81,107

SHAREHOLDERS' FUNDS

132,995

81,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 30 April 2018 and were signed by:

David Street - Director

1.	STATUTORY INFORMATION

Deepglobe Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2016

and 31 August 2017

8,788

DEPRECIATION

At 1 September 2016

6,340

Charge for year

613

At 31 August 2017

6,953

NET BOOK VALUE

At 31 August 2017

1,835

At 31 August 2016

2,448

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade debtors

5,748

29,501

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Corporation tax

18,701

20,739

Directors' current accounts

85,217

117,768

Accrued expenses

1,561

1,537

105,479

140,044

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.17

31.8.16

value:

£

£

100

Ordinary

£1

100

100

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 August 2017 and 31 August 2016:

31.8.17

31.8.16

£

£

David Street

Balance outstanding at start of year

117,768

117,559

Amounts repaid

(32,551

)

209

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

85,217

117,768

Included in creditors is an amount due to the director of £85,217 (2016 - £117,768). This

loan is interest free, undated, unsecured and repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is David Street.