SONIC_GAMES_LIMITED - Accounts

SONIC GAMES LIMITED - Company Information

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Company Registration No. 6815088 (England and Wales)

SONIC GAMES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

SONIC GAMES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SONIC GAMES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

25,841

20,470

Current assets

Stocks

250

Debtors

9,575

1,748

Cash at bank and in hand

614

148

10,189

2,146

Creditors: amounts falling due within one year

(28,273)

(21,356)

Net current liabilities

(18,084)

(19,210)

Total assets less current liabilities

7,757

1,260

Provisions for liabilities

(772)

(1,030)

6,985

230

Capital and reserves

Called up share capital

100

Profit and loss account

6,885

130

Shareholders' funds

6,985

230

For the financial year ended 31 May 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 14 February 2017

Mrs J Champion

Mr A P Reeves

Director

Company Registration No. 6815088

SONIC GAMES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 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).

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 other than freehold land 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 Freehold

Not subject to depreciation- see note

Land and buildings Leasehold

Not subject to depreciation- see note

Plant and machinery

25% on reducing balance

Equipment

25% on reducing balance

Fixtures and fittings

25% on reducing balance

The Directors consider that freehold and leasehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.

The Directors perform annual impairment reviews in accordance with the requirements of FRS15 and FRS11 to ensure that the carrying value is not higher than the recoverable amount.

1.5

Stock

Work in progress is valued at the lower of cost and net realisable value.

1.6

Pensions

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

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 profit and loss account.

SONIC GAMES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 June 2015

29,240

Additions

6,661

At 31 May 2016

35,901

Depreciation

At 1 June 2015

8,772

Charge for the year

1,288

At 31 May 2016

10,060

Net book value

At 31 May 2016

25,841

At 31 May 2015

20,470

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100

Related party relationships and transactions

Related Party Disclsures

The company was under the control of Mrs J Champion and Mr A Reeves throughout the period under review.

Mrs Champion and Mr Reeves are both Directors of the company, and together hold all the issued share capital.

The company trades with Topdraw Games Limited, a company of which Mrs J Champion is also a Director. At the year end there was an amount owing to Topdraw Games Ltd of £2,368 (2015: £6,867), reported within Other Creditors.

Also during the year, funds of £9,575 ( 2015: £419) were transferred to Champion and Reeves Limited, a company of which Mrs Champion and Mr Reeves are both Directors and shareholders. This transfer is reported within Other Debtors.