Physical Activity & Sports Specialists Ltd. - Period Ending 2014-09-30

Registration number: 08709516

Physical Activity & Sports Specialists Ltd.

Unaudited Abbreviated Accounts

for the Period from 27 September 2013 to 30 September 2014

 

Physical Activity & Sports Specialists Ltd.
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Physical Activity & Sports Specialists Ltd.
(Registration number: 08709516)
Abbreviated Balance Sheet at 30 September 2014

		Note			30 September 2014 £
Fixed assets
Tangible fixed assets					746
Current assets
Debtors					30,014
Cash at bank and in hand					22,894
					52,908
Creditors: Amounts falling due within one year					(35,801)
Net current assets					17,107
Net assets					17,853
Capital and reserves
Called up share capital		3			199
Profit and loss account					17,654
Shareholders' funds					17,853

For the year ending 30 September 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 23 July 2015 and signed on its behalf by:

.........................................
J Saunders
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Physical Activity & Sports Specialists Ltd.
Notes to the Abbreviated Accounts for the Period from 27 September 2013 to 30 September 2014
......... continued

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.

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
Office equipment	3 years straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		1,119			1,119
At 30 September 2014		1,119			1,119
Depreciation
Charge for the period		373			373
At 30 September 2014		373			373
Net book value
At 30 September 2014		746			746

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Physical Activity & Sports Specialists Ltd.
Notes to the Abbreviated Accounts for the Period from 27 September 2013 to 30 September 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	30 September 2014
		No.			£
Ordinary of £1 each		99			99
Ordinary A of £1 each		100			100
		199			199

New shares allotted

During the period 99 Ordinary having an aggregate nominal value of £99 were allotted for an aggregate consideration of £99. This was a new issue of share capital on incorporation.

During the period 100 Ordinary A having an aggregate nominal value of £100 were allotted for an aggregate consideration of £100. This was a new issue of share capital on incorporation.

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