Outdoor365 Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06601597 (England and Wales)

Abbreviated Accounts for the Year Ended 31 May 2016

for

Outdoor365 Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R C Tanner

M H Farrar

REGISTERED OFFICE:

63 Osborne Road

Farnborough

Hampshire

GU14 6AP

REGISTERED NUMBER:

06601597 (England and Wales)

ACCOUNTANTS:

Martin & Co Accountants Ltd

63 Osborne Road

Farnborough

Hampshire

GU14 6AP

FIXED ASSETS

Intangible assets

2

2,512

3,140

Tangible assets

3

25,199

19,351

27,711

22,491

CURRENT ASSETS

Stocks

160,178

109,256

Debtors

16,934

12,914

Cash at bank

6,039

11,723

183,151

133,893

CREDITORS

Amounts falling due within one year

107,087

90,086

NET CURRENT ASSETS

76,064

43,807

TOTAL ASSETS LESS CURRENT
LIABILITIES

103,775

66,298

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

103,774

66,297

SHAREHOLDERS' FUNDS

103,775

66,298

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 11 August 2016 and were signed on its behalf by:

R C Tanner - Director

M H Farrar - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 January 2015).

Turnover

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

Intangible assets

Intangible assets is made up of the costs of the website used to sell the products. This is being amortised at 20%

on a reducing balance basis to write it off 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.

Plant and machinery etc

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

11,138

AMORTISATION

At 1 June 2015

7,998

Amortisation for year

628

At 31 May 2016

8,626

NET BOOK VALUE

At 31 May 2016

2,512

At 31 May 2015

3,140

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

41,137

Additions

15,522

Disposals

(1,700

)

At 31 May 2016

54,959

DEPRECIATION

At 1 June 2015

21,786

Charge for year

8,718

Eliminated on disposal

(744

)

At 31 May 2016

29,760

NET BOOK VALUE

At 31 May 2016

25,199

At 31 May 2015

19,351

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

100

Ordinary

£0.01

1

5.	ULTIMATE PARENT COMPANY

Online365 Limited is regarded by the directors as being the company's ultimate parent company.

6.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of the Directors, R Tanner and M Farrar, by virtue of their

shareholding in the parent company Online 365 Limited. R Tanner holds 740 and M Farrer 260 Ordinary £1

shares in Online365 Limited which in turn holds 100% of the issued share capital of Outdoor365 Limited.