Extreme Executive Limited Small abbreviated accounts

EXTREME EXECUTIVE LIMITED - Company Information

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Company Registration Number 06540779

Extreme Executive Limited

Unaudited Abbreviated Accounts

31 March 2016

Extreme Executive Limited

Abbreviated Balance Sheet

31 March 2016

	2016		2015
Note	£	£	£

Fixed Assets	2
Intangible assets		85,000	92,500
Tangible assets		40,147	37,795
		---------	---------
		125,147	130,295
		---------	---------

Current Assets

Stocks		17,500		15,700
Debtors		1,771		4,241
Cash at bank and in hand		15,315		32,928
		--------		--------
		34,586		52,869
Creditors: Amounts Falling due Within One Year	3	( 91,028)		( 116,919)
		--------		---------
Net Current Liabilities			( 56,442)	( 64,050)
			---------	---------
Total Assets Less Current Liabilities			68,705	66,245

Creditors: Amounts Falling due after More than One Year	4		( 57,053)	( 51,492)

Provisions for Liabilities		-	( 3,851)

		--------	--------
		11,652	10,902
		--------	--------

Capital and Reserves

Called up equity share capital	5	100	100
Profit and loss account		11,552	10,802
		--------	--------
Shareholders' Funds		11,652	10,902
		--------	--------

For the year ended 31st March 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 accounts for the year in question in accordance with section 476; and

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

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 30 March 2017 , and are signed on their behalf by:

Mr L Weston

Company Registration Number: 06540779

Extreme Executive Limited

Notes to the Abbreviated Accounts

Year Ended 31st March 2016

1. Accounting Policies

Basis of Accounting

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

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Goodwill

Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. The carrying amount at the date of revision is depreciated over the revised estimate of remaining useful economic life.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill-remaining 20 years

Fixed Assets

All fixed assets are initially recorded at cost .

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold Property-10% Straight line per annum

Fixtures & Fittings-15% Reducing balance per annum

Equipment-15% Reducing balance per annum

Stocks

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

Operating Lease Agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Deferred Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

2. Fixed Assets

Intangible Assets	Tangible Assets	Total
£	£	£

Cost

At 1st April 2015	200,000	91,162	291,162
Additions	–	7,099	7,099
	---------	--------	---------
At 31st March 2016	200,000	98,261	298,261
	---------	--------	---------

Depreciation

At 1st April 2015	107,500	53,367	160,867
Charge for year	7,500	4,747	12,247
	---------	--------	---------
At 31st March 2016	115,000	58,114	173,114
	---------	--------	---------

Net Book Value

At 31st March 2016	85,000	40,147	125,147
	--------	--------	---------

At 31st March 2015	92,500	37,795	130,295
	--------	--------	---------

3. Creditors: Amounts Falling due Within One Year

The following liabilities disclosed under creditors falling due within one year are secured by the company:

	2016	2015
	£	£

Bank loans and overdrafts	28,490	19,172
	--------	--------

4. Creditors: Amounts Falling due after More than One Year

The following liabilities disclosed under creditors falling due after more than one year are secured by the company:

	2016	2015
	£	£

Bank loans and overdrafts	57,053	42,335
	--------	--------

5. Share Capital

Authorised share capital:

	2016	2015
	£	£

100 Ordinary shares of £ 1 each	100	100
	----	----

5. Share Capital (continued)

Allotted, called up and fully paid:

2016		2015
No.	£	No.	£

Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----