Sportwise Marketing Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02390410 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2015

for

Sportwise Marketing Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTOR:

D C Morgan

SECRETARY:

Mrs L P Morgan

REGISTERED OFFICE:

17 Prime Parkway

Prime Enterprise Park

Mansfield Road

Derby

Derbyshire

DE1 3QB

REGISTERED NUMBER:

02390410 (England and Wales)

ACCOUNTANTS:

HSKS Greenhalgh

Chartered Accountants

3rd Floor

Butt Dyke House

33 Park Row

Nottingham

NG1 6EE

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

280,566

297,632

Investment property

4

540,000

540,000

820,566

837,632

CURRENT ASSETS

Debtors

406,273

367,204

Cash at bank and in hand

42,395

26,298

448,668

393,502

CREDITORS

Amounts falling due within one year

5

443,665

469,223

NET CURRENT ASSETS/(LIABILITIES)

5,003

(75,721

)

TOTAL ASSETS LESS CURRENT LIABILITIES

825,569

761,911

CREDITORS

Amounts falling due after more than one year

5

(438,358

)

(411,504

)

PROVISIONS FOR LIABILITIES

(3,552

)

-

NET ASSETS

383,659

350,407

CAPITAL AND RESERVES

Called up share capital

6

100

100

Revaluation reserve

300,197

303,461

Profit and loss account

83,362

46,846

SHAREHOLDERS' FUNDS

383,659

350,407

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 31 March 2016 and were signed by:

D C Morgan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Turnover

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

Intangible fixed assets

Amortisation of the cost of the website is provided at 25% per annum on cost in order to write off the

asset over its estimated useful life.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Motor vehicles

-

25% on reducing balance

Property improvements

-

15% on reducing balance

Office equipment

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in market value is transferred to a revaluation reserve.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not

reversed at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Pension costs

The company operates a defined contribution pension scheme in respect of one of the directors and

the pension charge represents the amounts payable by the company to the fund in respect of the year.

Going concern

The company has made a profit for the financial year of £33,252 (2014: loss of £122,630) and the

balance sheet details net current assets of £5,003 (2014:net current liabilities of £75,721). The director

believes that the company has adequate cash resources to finance its trading and other obligations

during the course of the twelve months from the balance sheet sign off date. It is on this basis that the

director considers it appropriate to prepare the financial statements on a going concern basis.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

and 30 June 2015

6,200

AMORTISATION

At 1 July 2014

and 30 June 2015

6,200

NET BOOK VALUE

At 30 June 2015

-

At 30 June 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 July 2014

446,494

Additions

1,994

At 30 June 2015

448,488

DEPRECIATION

At 1 July 2014

148,862

Charge for year

19,060

At 30 June 2015

167,922

NET BOOK VALUE

At 30 June 2015

280,566

At 30 June 2014

297,632

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 July 2014

and 30 June 2015

540,000

NET BOOK VALUE

At 30 June 2015

540,000

At 30 June 2014

540,000

5.

CREDITORS

Creditors include an amount of £ 550,076 (2014 - £ 489,164 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

282,378

306,287

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year D C Morgan, a director and shareholder of the company paid expenses on behalf of

the company and withdrew money from the company. The balance owed to D C Morgan at the year

end was £12,855 (2014: £29,805)

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

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Sportwise Marketing Limited for the year ended 30 June 2015 which comprise the

Profit and Loss Account, the Balance Sheet and the related notes 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 director of Sportwise Marketing Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sportwise Marketing Limited and state those matters that we have agreed to state to the director of Sportwise Marketing Limited 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 the company and its director for our work or for this report.

It is your duty to ensure that Sportwise Marketing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sportwise Marketing Limited. You consider that Sportwise Marketing 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 financial statements of Sportwise

Marketing 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 financial statements.

HSKS Greenhalgh

Chartered Accountants

3rd Floor

Butt Dyke House

33 Park Row

Nottingham

NG1 6EE

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