Abbreviated Company Accounts - SEVEN CLUB LIMITED

SEVEN CLUB LIMITED - Company Information

Registered Number 03880568

SEVEN CLUB LIMITED

Abbreviated Accounts

31 December 2014

SEVEN CLUB LIMITED Registered Number 03880568

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	3	533	800
		533	800
Current assets
Stocks		6,753	1,513
Debtors		40,451	36,388
Cash at bank and in hand		108,705	115,004
		155,909	152,905
Creditors: amounts falling due within one year		(78,904)	(75,032)
Net current assets (liabilities)		77,005	77,873
Total assets less current liabilities		77,538	78,673
Total net assets (liabilities)		77,538	78,673
Reserves
Other reserves		74,573	68,758
Income and expenditure account		2,965	9,915
Members' funds		77,538	78,673

For the year ending 31 December 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 27 March 2015

And signed on their behalf by:
Mr A N Chan, Director

SEVEN CLUB LIMITED Registered Number 03880568

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy
Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Events equipment - 33.3% reducing balance
Motor Vehicles - 25% straight line
Office equipment - 25% straight line

Other accounting policies
Stocks

Stocks are valued at the lower of the cost and net realisable value, after making due allowance for obsolete and slow moving items.

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

3Tangible fixed assets

	£
Cost
At 1 January 2014	47,785
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	47,785
Depreciation
At 1 January 2014	46,985
Charge for the year	267
On disposals	-
At 31 December 2014	47,252
Net book values
At 31 December 2014	533
At 31 December 2013	800