Legend Sports Products Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04773060 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2014

for

Legend Sports Products Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M Spare

M P Durcan

SECRETARY:

M P Durcan

REGISTERED OFFICE:

The SRM Centre

Vulcan Way

Hermitage Industrial Estate

Coalville

Leicestershire

LE67 3AP

REGISTERED NUMBER:

04773060 (England and Wales)

ACCOUNTANTS:

McGregors Business Services

Prince William House

10 Lower Church Street

Ashby de la Zouch

Leicestershire

LE65 1AB

BANKERS:

HSBC

1 St Peters Street

Derby

Derbyshire

DE1 2AE

CURRENT ASSETS

Stocks

1,000

1,050

Debtors

50

50

Cash at bank

1,737

-

2,787

1,100

CREDITORS

Amounts falling due within one year

2

58,911

45,392

NET CURRENT LIABILITIES

(56,124

)

(44,292

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(56,124

)

(44,292

)

CREDITORS

Amounts falling due after more than one year

2

41,713

52,039

NET LIABILITIES

(97,837

)

(96,331

)

CAPITAL AND RESERVES

Called up share capital

3

1,000

1,000

Profit and loss account

(98,837

)

(97,331

)

SHAREHOLDERS' FUNDS

(97,837

)

(96,331

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 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 31 August 2014 and were signed on its behalf by:

M Spare - 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.

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.

Going concern

These accounts have been prepared on a going concern basis which assumes the continuing support of the

company's directors and the company's bankers.

2.

CREDITORS

Creditors include an amount of £ 52,928 (2013 - £ 63,073 ) for which security has been given.

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

2014

2013

£

£

Repayable by instalments

-

5,354

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,000

Ordinary

£1

1,000

1,000