A Game Sports Ltd - Period Ending 2016-08-31

Registration number: 08168836

A Game Sports Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

D.J. Reynolds & Co.
Chartered Accountants
15 Alverton Street
Penzance
Cornwall
TR18 2QP

A Game Sports Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

A Game Sports Ltd
(Registration number: 08168836)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016						2015
	£			£			£			£
Fixed assets
Tangible fixed assets								4,780						12,860
Current assets
Stocks					42,500						38,172
Debtors					82,282						45,602
Cash at bank and in hand					51						14,979
					124,833						98,753
Creditors: Amounts falling due within one year					(115,478)						(78,572)
Net current assets								9,355						20,181
Total assets less current liabilities								14,135						33,041
Creditors: Amounts falling due after more than one year								(7,591)						(13,997)
Provisions for liabilities								(956)						(2,572)
Net assets								5,588						16,472
Capital and reserves
Called up share capital		4			1						1
Profit and loss account					5,587						16,471
Shareholders' funds								5,588						16,472

For the year ending 31 August 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

A Game Sports Ltd
(Registration number: 08168836)
Abbreviated Balance Sheet at 31 August 2016
......... continued

Approved by the director on 31 May 2017

.........................................
Mr A D Noott
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

A Game Sports Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Government grants

Capital grants are treated as deferred until the relevant capital purchase is made, at which point they are released to the Profit and Loss Account over the expected life of the asset to which they relate (i.e. under the same rate as the rate of depreciation of that asset).

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% on cost
Website	33% on cost
Motor vehicle	25% on cost
Computer equipment	33% on cost

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

A Game Sports Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2015		40,568			40,568
Additions		1,965			1,965
At 31 August 2016		42,533			42,533
Depreciation
At 1 September 2015		27,708			27,708
Charge for the year		10,045			10,045
At 31 August 2016		37,753			37,753
Net book value
At 31 August 2016		4,780			4,780
At 31 August 2015		12,860			12,860

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		4,335			3,920
Amounts falling due after more than one year		7,591			11,926
Total secured creditors		11,926			15,846

Page 4

A Game Sports Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary share of £1 each		1			1			1			1

Page 5