Athletics Weekly Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07036468 (England and Wales)

Abbreviated Accounts for the Year Ended 30 April 2015

for

Athletics Weekly Limited

Page

Company Information

1

Report of the Accountants

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

M T Hollinshead

E M Wilkins

REGISTERED OFFICE:

Newcastle House

Albany Court

Newcastle Business Park

Newcastle Upon Tyne

NE4 7YB

REGISTERED NUMBER:

07036468 (England and Wales)

ACCOUNTANTS:

Lawrence Johns

202 Northolt Road

South Harrow

Middlesex

HA2 0EX

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to seven)

have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2015 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Lawrence Johns

202 Northolt Road

South Harrow

Middlesex

HA2 0EX

Date: .............................................

FIXED ASSETS

Intangible assets

2

581,537

620,304

Tangible assets

3

9,013

10,329

Investments

4

-

101

590,550

630,734

CURRENT ASSETS

Stocks

2,000

11,999

Debtors

79,367

68,250

81,367

80,249

CREDITORS

Amounts falling due within one year

327,329

828,319

NET CURRENT LIABILITIES

(245,962

)

(748,070

)

TOTAL ASSETS LESS CURRENT LIABILITIES

344,588

(117,336

)

CREDITORS

Amounts falling due after more than one year

-

263,685

NET ASSETS/(LIABILITIES)

344,588

(381,021

)

CAPITAL AND RESERVES

Called up share capital

5

131,288

93

Share premium

621,862

74,898

Profit and loss account

(408,562

)

(456,012

)

SHAREHOLDERS' FUNDS

344,588

(381,021

)

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

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

The directors acknowledge their 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 Board of Directors on 25 January 2016 and were signed on its behalf by:

E M Wilkins - Director

1.	ACCOUNTING POLICIES

Going concern

At the balance sheet date, the company had net assets of £344,588 (2014: net liabilities of £381,021) and its

current liabilities exceeded its current assets by £245,962 (2014: £748,070). The company is dependant on the

support of its creditors, directors and shareholders and in the opinion of the directors the support is expected to

continue for the foreseeable future. Accordingly the financial statements have been prepared on a going concern

basis.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over

its estimated useful life of 20 years.

Tangible fixed assets

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

Computer equipment

-

33% on cost

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Investments

Investments held as fixed assets are shown at cost less provision for impairment.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

and 30 April 2015

775,335

AMORTISATION

At 1 May 2014

155,031

Amortisation for year

38,767

At 30 April 2015

193,798

NET BOOK VALUE

At 30 April 2015

581,537

At 30 April 2014

620,304

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

29,565

Additions

3,911

At 30 April 2015

33,476

DEPRECIATION

At 1 May 2014

19,236

Charge for year

5,227

At 30 April 2015

24,463

NET BOOK VALUE

At 30 April 2015

9,013

At 30 April 2014

10,329

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2014

101

Impairments

(101

)

At 30 April 2015

-

NET BOOK VALUE

At 30 April 2015

-

At 30 April 2014

101

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.15

30.4.14

value:

£

£

262,576

Ordinary A

£0.50

131,288

31

NIL

Ordinary B

£1

-

62

131,288

93

Prior to the year end it was agreed to issue 13 new A ordinary shares and 13 B ordinary shares. The 75 B

ordinary shares where also converted from £1 shares to 150 £0.50 shares, which in turn were consolidated into A

ordinary shares giving 225 A ordinary shares of £0.50 each. Loan stock of £678,140 was then converted into

262,351 A ordinary shares of £0.50 each leaving a share capital of 262,576 A ordinary shares of £0.50 each.

These transaction happened before the year end, however the paperwork was not lodged with Companies House

until 12 May 2015. Due to the fact the substance of the transaction occurred prior to the year end, these changes

to share capital are reflected in these financial statements to 30 April 2015.

The above was triggered by a change in control of the business with each B share being automatically subdivided

into two A shares on the happening of the trigger event. The A shares resulting from the subdivision rank pari

passu in all other respects with the existing issued A shares, namely every shareholder has one vote for every

share of which it is the holder.