Fansworld Limited - Abbreviated accounts 16.3
Fansworld Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2016 |
| FOR |
| FANSWORLD LIMITED |
| FANSWORLD LIMITED (REGISTERED NUMBER: 06677134) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 AUGUST 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| FANSWORLD LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2016 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| FANSWORLD LIMITED (REGISTERED NUMBER: 06677134) |
| ABBREVIATED BALANCE SHEET |
| 31 AUGUST 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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 financial statements were approved by the director on |
| FANSWORLD LIMITED (REGISTERED NUMBER: 06677134) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 AUGUST 2016 |
| 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 amounts chargeable, net of value added tax, in respect of the sale of sporting |
| memorabilia. |
| TANGIBLE FIXED ASSETS |
| Fixtures and fittings | - |
| STOCKS |
| 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. |
| FOREIGN CURRENCIES |
| Profit and loss transactions in foreign currencies are translated into sterling at the exchange rate |
| ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies |
| are translated into sterling at the closing rates at the balance sheet date and the exchange |
| differences are included in the profit and loss account. |
| HIRE PURCHASE AND LEASING COMMITMENTS |
| 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 September 2015 |
| Additions |
| At 31 August 2016 |
| DEPRECIATION |
| At 1 September 2015 |
| Charge for year |
| At 31 August 2016 |
| NET BOOK VALUE |
| At 31 August 2016 |
| At 31 August 2015 |
| FANSWORLD LIMITED (REGISTERED NUMBER: 06677134) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2016 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | 1 |
| 4. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 August 2016 |
| and 31 August 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| The loan is interest free. |