MAD DOG SPORT LIMITED Accounts filed on 31-10-2015

MAD DOG SPORT LIMITED Accounts filed on 31-10-2015

MAD DOG SPORT C.I.C. - Company Information

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MAD DOG SPORT LIMITED




Company Registration Number:
08729678 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st November 2014

End date: 31st October 2015

SUBMITTED

MAD DOG SPORT LIMITED

Company Information
for the Period Ended 31st October 2015




Director: Mr Lewis Moody MBE
Mrs Annie Moody
Company secretary: Mrs Annie Moody
Registered office: Avonfield House 107 Trowbridge Road
Bradford-On-Avon
Wiltshire
BA15 1EG
Company Registration Number: 08729678 (England and Wales)

MAD DOG SPORT LIMITED

Abbreviated Balance sheet
As at 31st October 2015

Notes 2015
£		 2014
£
Fixed assets
Tangible assets: 5 7,590 3,448
Total fixed assets: 7,590 3,448
Current assets
Stocks: 666 -
Debtors: 6 4,525 1,615
Cash at bank and in hand: 789 9,900
Total current assets: 5,980 11,515
Creditors
Creditors: amounts falling due within one year 7 18,827 6,970
Net current assets (liabilities): ( 12,847 ) 4,545
Total assets less current liabilities: ( 5,257 ) 7,993
Provision for liabilities: 8 1,518 689
Total net assets (liabilities): ( 6,775 ) 7,304

The notes form part of these financial statements

MAD DOG SPORT LIMITED

Abbreviated Balance sheet
As at 31st October 2015
continued

Notes 2015
£		 2014
£
Capital and reserves
Called up share capital: 9 100 100
Profit and Loss account: ( 6,875 ) 7,204
Total shareholders funds: ( 6,775 ) 7,304

For the year ending 31 October 2015 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.

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).

The financial statements were approved by the Board of Directors on 15 July 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Mrs Annie Moody
Status: Director

The notes form part of these financial statements

MAD DOG SPORT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2015

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The accounts have been prepared under the historical cost convention and in accordance with The Financial Reporting Standard for Smaller Entities (effective April 2008).

    Turnover policy

    Turnover is recognised on a receivable basis. Turnover represents invoiced fees due from clients excluding VAT for rugby coaching services provided.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant and machinery 10% straight line Computer equipment 50% straight line Office Equipment 25% straight line

    Other accounting policies

    Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company’s accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.

MAD DOG SPORT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2015

  • 5. Tangible assets

    Total
    Cost £
    At 01st November 2014: 3,831
    Additions: 5,663
    At 31st October 2015: 9,494
    Depreciation
    At 01st November 2014: 383
    Charge for year: 1,521
    At 31st October 2015: 1,904
    Net book value
    At 31st October 2015: 7,590
    At 31st October 2014: 3,448

    Office equipment represents computer equipment, which carried a different depreciation rate.

MAD DOG SPORT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2015

  • 6. Debtors

    2015
    £     		2014
    £
    Trade debtors: 3,355 -
    Other debtors: 1,170 1,615
    Total: 4,525 1,615

MAD DOG SPORT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2015

  • 7. Creditors: amounts falling due within one year

    2015
    £     		2014
    £
    Trade creditors: 1,944 -
    Taxation and social security: - 1,170
    Accruals and deferred income: 800 800
    Other creditors: 16,083 5,000
    Total: 18,827 6,970

MAD DOG SPORT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2015

  • 9. Called up share capital

    Allotted, called up and paid

    Previous period 2014
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1.00
    1.00
    		100
    Total share capital: 100
    Current period 2015
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1.00
    1.00
    		100
    Total share capital: 100

MAD DOG SPORT LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2015

  • 11. Related party disclosures

    Name of the ultimate controlling party during the period: During the year, the company was under the control of the Directors Mr L and Mrs A Moody, whom between them owned 100% of the issued share capital.
    Name of related party: LWM Sporting Consultants Limited
    Relationship: Common control
    Description of the transaction: Commercial Loan
    Balance at 01st November 2014 5,000
    Balance at 31st October 2015 5,000

    At the Balance Sheet date, the Directors had made loans to the Company totalling £11,083 (2014: £1,615 overdrawn). These loans were made to the Company as part of the start-up and to provide working capital thereafter. The loans are non-interest bearing and repayable on demand to the Directors and as such are disclosed within Creditors amounts due within one year on the balance sheet. The Directors have committed to keep these loans in place for as long as the company requires them and as a result, they have adopted the going concern basis of accounting.