Card Fame Limited - Period Ending 2014-12-31

Registration number: 07638619

Card Fame Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2014
 

Redshield Business Solutions Limited
Chartered Accountants
Suite 3, 1 - 3 Warren Court
Park Road
Crowborough
East Sussex
TN6 2QX

Card Fame Limited
Contents

Company Information 1

Directors' Report 2

Accountants' Report 3

Profit and Loss Account 4

Balance Sheet 5

Notes to the Financial Statements 6 to 7

Card Fame Limited
Company Information

Directors

AW Balcombe G Thomas I P Springett

Company secretary

E Gutsell

Registered office

Mill Cottage Harlequin Lane Crowborough East Sussex TN6 1HU

Accountants

Redshield Business Solutions Limited Chartered Accountants Suite 3, 1 - 3 Warren Court Park Road Crowborough East Sussex TN6 2QX

Page 1

Card Fame Limited
Directors' Report for the Year Ended 31 December 2014

The directors present their report and the unaudited financial statements for the year ended 31 December 2014.

Directors of the company

The directors who held office during the year were as follows:

AW Balcombe

G Thomas

I P Springett

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 24 September 2015 and signed on its behalf by:

.........................................
AW Balcombe
Director

Page 2

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Card Fame Limited
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Card Fame Limited for the year ended 31 December 2014 set out on pages 4 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Card Fame Limited, as a body, in accordance with the terms of our engagement letter dated 21 February 2012. Our work has been undertaken solely to prepare for your approval the accounts of Card Fame Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Card Fame Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Card Fame Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Card Fame Limited. You consider that Card Fame Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Card Fame Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Redshield Business Solutions Limited
Chartered Accountants
Suite 3, 1 - 3 Warren Court
Park Road
Crowborough
East Sussex
TN6 2QX

24 September 2015

Page 3

Card Fame Limited
Profit and Loss Account for the Year Ended 31 December 2014

		Note			2014 £			2013 £
Turnover					-			526
Cost of sales					-			(878)
Gross loss					-			(352)
Administrative expenses					(509)			(22,462)
Operating loss					(509)			(22,814)
Other interest receivable and similar income					1			-
Loss on ordinary activities before taxation					(508)			(22,814)
Loss for the financial year		6			(508)			(22,814)

The notes on pages 6 to 7 form an integral part of these financial statements.
Page 4

Card Fame Limited
(Registration number: 07638619)
Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Current assets
Debtors		2			2,875			2,875
Cash at bank and in hand					-			786
					2,875			3,661
Creditors: Amounts falling due within one year		3			(505)			(918)
Total assets less current liabilities					2,370			2,743
Creditors: Amounts falling due after more than one year		4			(89,135)			(89,000)
Net liabilities					(86,765)			(86,257)
Capital and reserves
Called up share capital		5			1,000			1,000
Profit and loss account		6			(87,765)			(87,257)
Shareholders' deficit					(86,765)			(86,257)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

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.

Approved and authorised for issue by the Board on 24 September 2015 and signed on its behalf by:

.........................................
AW Balcombe
Director

The notes on pages 6 to 7 form an integral part of these financial statements.
Page 5

Card Fame Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

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).

Going concern

The company did not trade during the year. The Directors are intending to sell the software developed by the company to raise funds to reapy the Directors' loans. Therefore the loans continue to be shown as due in the accounts.

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

Debtors

		2014 £			2013 £
Other debtors		2,875			2,875

3	Creditors: Amounts falling due within one year

		2014 £			2013 £
Trade creditors		206			203
Other taxes and social security		-			215
Other creditors		299			500
		505			918

4	Creditors: Amounts falling due after more than one year

		2014 £			2013 £
Other creditors		89,135			89,000

Page 6

Card Fame Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

5	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

6

Reserves

		Profit and loss account £			Total £
At 1 January 2014		(87,257)			(87,257)
Loss for the year		(508)			(508)
At 31 December 2014		(87,765)			(87,765)

7	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

AWB Group Limited ( Connected company )   At the balance sheet date the amount due to AWB Group Limited was £23,135 ( 2013 - £23,000 ) .

A Balcombe ( Director )   At the balance sheet date the amount due to A Balcombe was £22,000 ( 2013 - £22,000 ) .

I Springett ( Director )   At the balance sheet date the amount due to I Springett was £44,000 ( 2013 - £44,000 ) .

G Thomas ( Director )   At the balance sheet date the amount due from G Thomas was £1,500 ( 2013 - £1,500 ) .

8

Control

The company is controlled by the directors who own 100% of the called up share capital.

Page 7