Direct Sports Limited - Limited company - abbreviated

REGISTERED NUMBER: 04648702 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30TH APRIL 2015

FOR

DIRECT SPORTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr Mark Watson

SECRETARY:

Mr Mark Watson

REGISTERED OFFICE:

Evolution

Wynyard Business Park

Billingham

Cleveland

TS22 5TB

REGISTERED NUMBER:

04648702 (England and Wales)

ACCOUNTANTS:

White Rose Partnership LLP

Holly Barn

Carlton Miniott

Thirsk

North Yorkshire

YO7 4NJ

FIXED ASSETS

Tangible assets

2

54,240

64,645

CURRENT ASSETS

Stocks

1,406,946

1,181,663

Debtors

43,323

68,978

Cash at bank

291,797

212,284

1,742,066

1,462,925

CREDITORS

Amounts falling due within one year

516,977

553,064

NET CURRENT ASSETS

1,225,089

909,861

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,279,329

974,506

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

1,279,325

974,502

SHAREHOLDERS' FUNDS

1,279,329

974,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 15th September 2015 and were signed by:

Mr Mark Watson - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2014

96,690

Additions

534

At 30th April 2015

97,224

DEPRECIATION

At 1st May 2014

32,045

Charge for year

10,939

At 30th April 2015

42,984

NET BOOK VALUE

At 30th April 2015

54,240

At 30th April 2014

64,645

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

4

Ordinary

1

4

Direct Sports Limited - Limited company - abbreviated - 11.6

Direct Sports Limited - Limited company - abbreviated - 11.6