Fairways Sports Promotions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC282427 (Scotland)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

FAIRWAYS SPORTS PROMOTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G A Hunter

Mrs Y I Hunter

SECRETARY:

R W Bothwell

REGISTERED OFFICE:

71 Charleston Road North

Cove

Aberdeen

AB12 3SZ

REGISTERED NUMBER:

SC282427 (Scotland)

ACCOUNTANTS:

Bon Accord Accountancy Limited

71 Charleston Road North

Cove

Aberdeen

Aberdeenshire

AB12 3SZ

FIXED ASSETS

Tangible assets

4

268

505

CURRENT ASSETS

Debtors

5

17,471

7,827

Cash at bank

12,983

33,399

30,454

41,226

CREDITORS

Amounts falling due within one year

6

9,758

10,707

NET CURRENT ASSETS

20,696

30,519

TOTAL ASSETS LESS CURRENT LIABILITIES

20,964

31,024

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

20,962

31,022

SHAREHOLDERS' FUNDS

20,964

31,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 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 Board of Directors and authorised for issue on 20 August 2020 and were signed on its behalf by:

G A Hunter - Director

1.	STATUTORY INFORMATION

Fairways Sports Promotions Ltd is a private company, limited by shares , 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

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.

Plant and machinery etc

-

33% on cost and 25% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

4,735

DEPRECIATION

At 1 April 2019

4,230

Charge for year

237

At 31 March 2020

4,467

NET BOOK VALUE

At 31 March 2020

268

At 31 March 2019

505

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

716

330

Other debtors

16,755

7,497

17,471

7,827

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

7,575

3,599

Taxation and social security

1,161

6,092

Other creditors

1,022

1,016

9,758

10,707