Adrenaline Proshop Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08756546 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

ADRENALINE PROSHOP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L Nash

L G Nash

REGISTERED OFFICE:

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

REGISTERED NUMBER:

08756546 (England and Wales)

ACCOUNTANTS:

d&t

Chartered Accountants

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

FIXED ASSETS

Intangible assets

4

490

1,253

Tangible assets

5

1,290

1,553

1,780

2,806

CURRENT ASSETS

Stocks

2,745

8,793

Debtors

6

3,340

-

Cash at bank

174

503

6,259

9,296

CREDITORS

Amounts falling due within one year

7

7,133

11,109

NET CURRENT LIABILITIES

(874

)

(1,813

)

TOTAL ASSETS LESS CURRENT LIABILITIES

906

993

PROVISIONS FOR LIABILITIES

295

533

NET ASSETS

611

460

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8

511

360

SHAREHOLDERS' FUNDS

611

460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 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 30 May 2019 and were signed on its behalf by:

L Nash - Director

1.	STATUTORY INFORMATION

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

TURNOVER

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

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

COMPUTER SOFTWARE

Computer software purchased in 2016 is being amortised over 3 years

TANGIBLE FIXED ASSETS

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

Plant and machinery etc

-

25% straight line basis

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 November 2017

and 31 October 2018

2,314

AMORTISATION

At 1 November 2017

1,061

Charge for year

763

At 31 October 2018

1,824

NET BOOK VALUE

At 31 October 2018

490

At 31 October 2017

1,253

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2017

1,955

Additions

265

At 31 October 2018

2,220

DEPRECIATION

At 1 November 2017

402

Charge for year

528

At 31 October 2018

930

NET BOOK VALUE

At 31 October 2018

1,290

At 31 October 2017

1,553

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

3,340

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

3,036

1,933

Other creditors

4,097

9,176

7,133

11,109

8.

RESERVES

Retained

earnings

£

At 1 November 2017

360

Profit for the year

3,651

Dividends

(3,500

)

At 31 October 2018

511

9.	RELATED PARTY DISCLOSURES

Unless otherwise disclosed, all related party transactions have been conducted under normal market

conditions, including dividend payments to it's shareholders.

10.	LOANS WITH PARTICIPATORS

During the year, one of the directors was advanced £1,750, and they repaid £8,290.