Vale Sports Arena Ltd Filleted accounts for Companies House (small and micro)
Vale Sports Arena Ltd Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
09766305
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FINANCIAL STATEMENTS |
Year ended 30 September 2018
CONTENTS |
PAGES |
Balance sheet |
1 to 2 |
Notes to the financial statements |
3 to 6 |
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BALANCE SHEET |
2018 |
2017 |
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Note |
£ |
£ |
FIXED ASSETS
Tangible assets |
5 |
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CURRENT ASSETS
Stocks |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
6 |
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(
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NET CURRENT LIABILITIES |
(
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(
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TOTAL ASSETS LESS CURRENT LIABILITIES |
(
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CREDITORS: amounts falling due after more than one year |
7 |
(
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NET LIABILITIES |
(
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(
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CAPITAL AND RESERVES
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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BALANCE SHEET (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
17 December 2019
, and are signed on behalf of the board by:
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Director |
Company registration number:
09766305
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NOTES TO THE FINANCIAL STATEMENTS |
Year ended 30 September 2018
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cumbria House, Penarth Road, Penarth, CF64 2WW. The principal place of business is Vale Sports Arena, Penarth Road, Cardiff, CF11 8TW.
2.
STATEMENT OF COMPLIANCE
3.
ACCOUNTING POLICIES
Basis of preparation
Going concern
Turnover
Operating leases
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property |
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over 10 years |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Stocks
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
3
(2017:
3
).
5.
TANGIBLE ASSETS
Long leasehold property |
Plant and machinery |
Fixtures and fittings |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 October 2017 |
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Additions |
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– |
– |
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At 30 September 2018 |
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Depreciation |
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At 1 October 2017 |
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Charge for the year |
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At 30 September 2018 |
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Carrying amount |
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At 30 September 2018 |
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At 30 September 2017 |
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6.
CREDITORS:
amounts falling due within one year
2018 |
2017 |
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£ |
£ |
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Social security and other taxes |
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Other creditors |
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7.
CREDITORS:
amounts falling due after more than one year
2018 |
2017 |
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£ |
£ |
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Other creditors |
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8.
OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2018 |
2017 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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Later than 5 years |
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9.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
Directors' loan balances amounting to £190,712 (2017 - £187,130) are included within creditors due after more than one year. The loans are interest free. The directors have given personal guarantees over the lease on the premises from which the company trades.