Eddies Bookmakers Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07580670 (England and Wales)

EDDIES BOOKMAKERS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

L M Edwards

REGISTERED OFFICE:

2 Market Square

Narberth

Pembrokeshire

SA67 7AU

REGISTERED NUMBER:

07580670 (England and Wales)

ACCOUNTANTS:

Bevan Buckland LLP

Chartered Accountants

45 High Street

Haverfordwest

Pembrokeshire

SA61 2BP

FIXED ASSETS

Tangible assets

4

34,158

37,230

CURRENT ASSETS

Debtors

5

60,510

52,475

Cash at bank and in hand

24,189

19,695

84,699

72,170

CREDITORS

Amounts falling due within one year

6

49,904

54,665

NET CURRENT ASSETS

34,795

17,505

TOTAL ASSETS LESS CURRENT LIABILITIES

68,953

54,735

PROVISIONS FOR LIABILITIES

2,875

2,875

NET ASSETS

66,078

51,860

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

65,978

51,760

66,078

51,860

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 30 September 2019 and were signed by:

L M Edwards - Director

1.	STATUTORY INFORMATION

Eddies Bookmakers Ltd 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.

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.

Tangible fixed assets

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

Property improvements

-

2% on cost

Plant and equipment

-

15% reducing balance

Fixtures and fittings

-

15% reducing balance

Computer equipment

-

Straight line over 4 years

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 statement of financial position date.

Deferred tax

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

the statement of financial position 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Property

Plant and

and

Computer

improvements

equipment

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2018

9,145

55,201

22,786

5,757

92,889

Additions

-

-

1,858

-

1,858

At 31 December 2018

9,145

55,201

24,644

5,757

94,747

DEPRECIATION

At 1 January 2018

316

36,184

13,922

5,237

55,659

Charge for year

183

2,853

1,608

286

4,930

At 31 December 2018

499

39,037

15,530

5,523

60,589

NET BOOK VALUE

At 31 December 2018

8,646

16,164

9,114

234

34,158

At 31 December 2017

8,829

19,017

8,864

520

37,230

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

-

852

Other debtors

60,510

51,623

60,510

52,475

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

221

Trade creditors

9,739

9,741

Amounts owed to participating interests

12,534

29,534

Taxation and social security

7,143

7,818

Other creditors

20,488

7,351

49,904

54,665

At the balance sheet date a fixed and floating charge exists over the company's assets held on all

bank borrowings.

7.	RELATED PARTY DISCLOSURES

The company rents a property jointly from the director and shareholders at a favourable rate.

Rentals of £nil were paid during the year (2017 - £4,317).

At the balance sheet date a loan of £52,875 (2017 - £43,128) was due to the company by one of the

shareholders. Interest at market rate has been charged on this loan.