South Coast Amusements Limited - Period Ending 2014-08-31

Company No. 05990938

South Coast Amusements Limited

Abbreviated Accounts

Year Ended

31 August 2014
 

Brett Pittwood

Chartered Accountants

South Coast Amusements Limited   Accounts Year Ended 31 August 2014

INDEX Page

Abbreviated balance sheet 1

Notes to the abbreviated accounts 2 - 3

South Coast Amusements Limited Abbreviated balance sheet at 31 August 2014

page 787878787 Company No. 05990938

		Note			2014						2013
Fixed assets
Intangible fixed assets								-						155,115
Tangible fixed assets								-						11,322
								-						166,437
Current assets
Stocks					-						100
Debtors					6,070						10,234
Bank and cash balances					6,541						30,142
					12,611						40,476
CREDITORS: amounts falling due within one year					(1,460)						(9,650)
Net current assets								11,151						30,826
Total assets less current liabilities								11,151						197,263
CREDITORS: amounts falling due after more than one year								(940,625)						(870,625)
Net liabilities								(£929,474)						(£673,362)
Capital and reserves
Called up share capital		3			100						100
Profit and loss account					(929,574)						(673,462)
								(£929,474)						(£673,362)

For the year ending 31 August 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 15 May 2015 and signed on its behalf by:

M E Willson
Director

South Coast Amusements Limited Notes to the abbreviated accounts   Year Ended 31 August 2014

page 787878787

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised over it's useful economic life.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	20 years straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and equipment	25% on reducing balance
Arcade machines	33% on reducing balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

South Coast Amusements Limited Notes to the abbreviated accounts   Year Ended 31 August 2014

page 787878787

2	Fixed assets

		Intangible assets			Tangible assets			Total
Cost
At 1 September 2013		229,800			101,888			331,688
Disposals		(229,800)			(101,888)			(331,688)
At 31 August 2014		-			-			-
Amortisation
At 1 September 2013		74,685			90,566			165,251
Eliminated on disposals		(74,685)			(90,566)			(165,251)
At 31 August 2014		-			-			-
Net book value
At 31 August 2014		-			-			-
At 31 August 2013		£155,115			£11,322			£166,437

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100