REGISTERED NUMBER: SC414435 (Scotland)

E-Spark (Scotland) Limited

Previously known as

Entrepreneurial-Spark Limited

Unaudited Financial Statements

for the Period 1 February 2016 to 30 July 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Mann

L Walker

REGISTERED OFFICE:

The Ca'D'Oro

45 Gordon Street

Glasgow

G1 3PE

REGISTERED NUMBER:

SC414435 (Scotland)

FIXED ASSETS

Tangible assets

4

18,198

8,218

Investments

5

1,000

1,000

19,198

9,218

CURRENT ASSETS

Debtors

6

24,527

54,207

Cash at bank

1,688,662

1,856,800

1,713,189

1,911,007

CREDITORS

Amounts falling due within one year

7

(1,615,879

)

(1,824,175

)

NET CURRENT ASSETS

97,310

86,832

TOTAL ASSETS LESS CURRENT LIABILITIES

116,508

96,050

PROVISIONS FOR LIABILITIES

8

(3,458

)

-

NET ASSETS

113,050

96,050

RESERVES

Retained earnings

113,050

96,050

113,050

96,050

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 July 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 July 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26 April 2018 and were signed on its behalf by:

L Walker - Director

1.	STATUTORY INFORMATION

E-Spark (Scotland) Limited is a private company, limited by guarantee, registered in Scotland. The company's registered number and

registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies

and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and

Republic of Ireland ("FRS 102") and the Companies Act 2006. The presentational and functional currency of these financial statements is

sterling. All amounts in the financial statements have been rounded to the nearest £1.

These financial statements for the period ended 31 July 2017 are the first financial statements of E-Spark (Scotland) Limited prepared in

accordance with FRS 102. The date of transition to FRS 102 was 01 Feb 2015. In the transition to FRS 102 from the Financial Reporting

Standard for Smaller Entities (effective January 2015) the company has made adjustments, please see the reconciliation of equity for further

details.

Under FRS 102, Section 1A, the company is exempt from the requirement to prepare consolidated financial statements on the grounds that

it qualifies as a small group. These financial statements present information about the company as an individual undertaking and not about

its group.

Going concern

The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or

support will be more than adequate for the company's needs. In assessing going concern, the Directors have a reasonable expectation that the

company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the

date of approval of these financial statements.

Preparation of consolidated financial statements

The financial statements contain information about E-Spark (Scotland) Limited as an individual company and do not contain consolidated

financial information as the parent of a group. The company has taken the option under section 398 of the Companies Act 2006 not to

prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard

applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies, management are required to make judgements, estimates and assumptions that affect

the amounts reported or assets and liabilities as at the Balance Sheet date and the amounts reported for revenues and expenses during the

period. The estimates and assumptions are based on historical experience and other factors that are considered to be relevant.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period

in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects

both current and future periods.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any impairment losses. Historical cost includes

expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the

manner intended by management.

Depreciation is charged to profit or loss over the estimated useful economic lives, as follows -

Computer equipment - Over 3 years on a straight line basis.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an

indication of a significant change since the last reporting date.

Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount

of the asset is determined, which is the higher of its fair value less costs to sell and its value in use.

Any impairment loss is recognised immediately as an expense within the profit or loss.

Basic financial instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are

recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised

cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing

transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments

discounted at a market rate of instrument for a similar debt instrument.

Investments

Investments in subsidiaries are held at cost less accumulated impairment losses.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of

impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying

amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount

and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Government grants

Grants are accounted for under the accruals model of accounting. Grants relating to expenditure on tangible fixed assets are credited to profit

or loss at the same rate as the depreciation on assets to which the grant relates. The deferred element of grants is included in creditors as

deferred income. Grants of a revenue nature are recognised in profit or loss in the same period as the related expenditure.

Current and deferred taxation

Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in profit or loss except to the extent that it relates

to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other

comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively

enacted at the balance sheet date.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in the financial statements. Deferred tax is not recognised on permanent differences arising because

certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or

smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or

substantively enacted at the balance sheet date.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that is it probable that they will be recovered against the

reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Transactions in foreign currencies are translated to the company's functional currency at the foreign exchange rate ruling at the date of the

transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional

currency at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in profit or loss.

Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company

pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.The

contributions are recognised as an expense in profit or loss in the periods during which services are rendered by employees.

Revenue recognition

Revenue represents amounts receivable for goods and services net of VAT. The total revenue of the company for the year has been derived

from its principal activities.

3.	STAFF NUMBERS

The average number of employees during the period was 40 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 February 2016

8,961

Additions

22,642

At 30 July 2017

31,603

DEPRECIATION

At 1 February 2016

743

Charge for period

12,662

At 30 July 2017

13,405

NET BOOK VALUE

At 30 July 2017

18,198

At 31 January 2016

8,218

5.	FIXED ASSET INVESTMENTS

Investments

in group

undertakings

£

COST

At 1 February 2016

and 30 July 2017

1,000

NET BOOK VALUE

At 30 July 2017

1,000

At 31 January 2016

1,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.7.17

31.1.16

as restated

£

£

Trade debtors

8,400

42

Prepayments and accrued income

16,127

54,165

24,527

54,207

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.7.17

31.1.16

as restated

£

£

Trade creditors

17,092

93,494

Tax

6,554

9,346

Social security and other taxes

277,527

192,807

Other creditors

104,925

19,902

Accruals and deferred income

1,209,781

1,508,626

1,615,879

1,824,175

Included in 'Other creditors' are amounts owed to the pension scheme of £4,527 (2016: £3,766)

8.	PROVISIONS FOR LIABILITIES

30.7.17

31.1.16

as restated

£

£

Deferred tax

3,458

-

Deferred tax

£

Provided during period

3,458

Balance at 30 July 2017

3,458

Deferred tax has been provided for with respect to accelerated capital allowances during the period.