SERIOUS_SPORT_GROUP_LIMIT - Accounts

SERIOUS SPORT GROUP LIMITED - Company Information

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Company Registration No. 05619229 (England and Wales)

SERIOUS SPORT GROUP LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

SERIOUS SPORT GROUP LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

SERIOUS SPORT GROUP LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

143,356

143,604

Investments

400

143,356

144,004

Current assets

Stocks

328,822

293,668

Debtors

37,205

58,996

Cash at bank and in hand

40,983

27,200

407,010

379,864

Creditors: amounts falling due within one year

(268,360)

(403,556)

Net current assets/(liabilities)

138,650

(23,692)

Total assets less current liabilities

282,006

120,312

Creditors: amounts falling due after more than one year

(81,111)

(82,416)

200,895

37,896

Capital and reserves

Called up share capital

381

Share premium account

35,019

Profit and loss account

165,495

2,496

Shareholders' funds

200,895

37,896

SERIOUS SPORT GROUP LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 NOVEMBER 2015

- 2 -

For the financial year ended 30 November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 August 2016

Mr Neil Rider

Director

Company Registration No. 05619229

SERIOUS SPORT GROUP LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

10% on cost

Computer and office equipment

15% reducing balance

Fixtures, fittings & equipment

15% reducing balance

Website

20% on cost

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Fixed assets

Tangible assets

Cost

At 1 December 2014

143,604

Additions

30,567

At 30 November 2015

174,171

Depreciation

At 1 December 2014

Charge for the year

30,815

At 30 November 2015

30,815

Net book value

At 30 November 2015

143,356

At 30 November 2014

144,004

SERIOUS SPORT GROUP LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 4 -

Share capital

2015

2014

Allotted, called up and fully paid

3,810 Ordinary shares of 10p each

381