Funky Monkeys Softplay Newport Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: NI619517 (Northern Ireland)

Abbreviated Accounts for the Year Ended 31 May 2016

for

Funky Monkeys Softplay Newport Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs A Simpson

M Simpson

H Moore

REGISTERED OFFICE:

10 Carnany Road

Mayobridge

Co. Down

BT34 2HF

REGISTERED NUMBER:

NI619517 (Northern Ireland)

ACCOUNTANTS:

Farrell & Farrell

35 Main St

Hilltown

Newry

Co. Down

BT34 5UJ

FIXED ASSETS

Tangible assets

2

182,245

206,809

CURRENT ASSETS

Stocks

3,635

3,689

Debtors

6,383

24,236

Cash at bank and in hand

13,875

9,550

23,893

37,475

CREDITORS

Amounts falling due within one year

3

124,577

147,042

NET CURRENT LIABILITIES

(100,684

)

(109,567

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

81,561

97,242

CREDITORS

Amounts falling due after more than one
year

3

(48,810

)

(77,646

)

PROVISIONS FOR LIABILITIES

(14,719

)

(15,202

)

NET ASSETS

18,032

4,394

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

17,932

4,294

SHAREHOLDERS' FUNDS

18,032

4,394

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 6 January 2017 and were signed on its behalf by:

Mrs A Simpson - Director

M Simpson - 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 January 2015).

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

262,637

Additions

7,869

At 31 May 2016

270,506

DEPRECIATION

At 1 June 2015

55,828

Charge for year

32,433

At 31 May 2016

88,261

NET BOOK VALUE

At 31 May 2016

182,245

At 31 May 2015

206,809

3.

CREDITORS

Creditors include an amount of £ 72,121 (2015 - £ 113,322 ) for which security has been given.

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

2016

2015

£

Repayable by instalments

-

5,952

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary Share Capital

£1

100

5.	ULTIMATE PARENT COMPANY

Funky Monkeys Playcentres Ltd is regarded by the directors as being the company's ultimate parent company.