Elite Ice Sports Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07470954 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

ELITE ICE SPORTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Cowley

SECRETARIES:

M Cowley

A P Buxton

REGISTERED OFFICE:

298 Penistone Road

Sheffield

South Yorkshire

S6 2FU

REGISTERED NUMBER:

07470954 (England and Wales)

ACCOUNTANTS:

Jones Thorne Limited

The Masters House

92a Arundel Street

Sheffield

South Yorkshire

S1 4RE

FIXED ASSETS

Tangible assets

4

2,850

4,003

CURRENT ASSETS

Debtors

5

6

16

CREDITORS

Amounts falling due within one year

6

190,630

170,285

NET CURRENT LIABILITIES

(190,624

)

(170,269

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(187,774

)

(166,266

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

(187,776

)

(166,268

)

SHAREHOLDERS' FUNDS

(187,774

)

(166,266

)

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:

M Cowley - Director

1.	STATUTORY INFORMATION

Elite Ice Sports 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.

The financial statements have been prepared on a going concern basis.

The company is supported by the director's. The director's have indicated that they will

continue to support the company until it is able to meet its debts as they fall due. The

financial statements do not include any adjustments which would be required should this

support be withdrawn.

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.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% 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.

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 6 (2017 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 January 2018

2,949

2,601

5,550

Additions

-

366

366

At 31 December 2018

2,949

2,967

5,916

DEPRECIATION

At 1 January 2018

595

952

1,547

Charge for year

585

934

1,519

At 31 December 2018

1,180

1,886

3,066

NET BOOK VALUE

At 31 December 2018

1,769

1,081

2,850

At 31 December 2017

2,354

1,649

4,003

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Other debtors

6

16

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

18,568

18,250

Amounts owed to participating interests

39,725

39,725

Taxation and social security

43,713

35,447

Other creditors

88,624

76,863

190,630

170,285

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.18

31.12.17

£

£

Within one year

94,050

91,200

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

2

Ordinary

1

2

2

9.	ULTIMATE CONTROLLING PARTY

The controlling party is M Cowley.