INSTANT_WIN_GAMING_LIMITE - Accounts

INSTANT WIN GAMING LIMITED - Company Information

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Company Registration No. 07852508 (England and Wales)

INSTANT WIN GAMING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

INSTANT WIN GAMING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

INSTANT WIN GAMING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

175,878

7,612

Current assets

Debtors

254,725

109,719

Cash at bank and in hand

170,354

61,202

425,079

170,921

Creditors: amounts falling due within one year

(179,504)

(61,091)

Net current assets

245,575

109,830

Total assets less current liabilities

421,453

117,442

Creditors: amounts falling due after more than one year

(142,188)

279,265

117,442

Capital and reserves

Called up share capital

2,000

Profit and loss account

277,265

115,442

Shareholders' funds

279,265

117,442

For the financial year ended 30 April 2016 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 31 January 2017

R Fisher

Director

Company Registration No. 07852508

INSTANT WIN GAMING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 2 -

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 January 2015).

The company has sufficient financial resources and the directors believe it is well placed to manage its business risks successfully. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

1.2

Turnover

Turnover represents amounts receivable for services net of VAT.

1.3

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:

Computer equipment

33.33% straight line

Fixtures, fittings & equipment

25% - 50% straight line

Motor vehicles

25% reducing balance

1.4

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.

INSTANT WIN GAMING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 May 2015

10,815

Additions

188,282

At 30 April 2016

199,097

Depreciation

At 1 May 2015

3,203

Charge for the year

20,016

At 30 April 2016

23,219

Net book value

At 30 April 2016

175,878

At 30 April 2015

7,612

Share capital

2016

2015

Allotted, called up and fully paid

2,000 ordinary shares of £1 each

2,000