Rampage Event Management Ltd. - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02358281 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

RAMPAGE EVENT MANAGEMENT LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M E Rimmer

REGISTERED OFFICE:

Holt Lodge

Kintbury

HUNGERFORD

Berkshire

RG17 9SX

REGISTERED NUMBER:

02358281 (England and Wales)

ACCOUNTANTS:

Wilkins Kennedy LLP

Griffins Court

24-32 London Road

Newbury

Berkshire

RG14 1JX

FIXED ASSETS

Tangible assets

4

130,226

122,388

CURRENT ASSETS

Stocks

2,089

1,078

Debtors

5

131,687

205,203

Cash at bank and in hand

98,975

78,045

232,751

284,326

CREDITORS

Amounts falling due within one year

6

212,940

219,592

NET CURRENT ASSETS

19,811

64,734

TOTAL ASSETS LESS CURRENT LIABILITIES

150,037

187,122

CREDITORS

Amounts falling due after more than one year

7

6,072

-

NET ASSETS

143,965

187,122

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

143,865

187,022

SHAREHOLDERS' FUNDS

143,965

187,122

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 20 April 2017 and were signed by:

M E Rimmer - Director

1.	STATUTORY INFORMATION

Rampage Event Management Ltd. is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the

nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies

have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that

affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues

and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those

estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts

recognised in the financial statements.

Revenue recognition

The key judgements made by management in respect of revenue is the point at which that revenue should be recognised.

Management consider the underlying contract terms and conclude upon the most appropriate point of the cycle at which

to recognise revenue based upon the these terms and in particular where the risks and rewards of ownership transfer.

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The

actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual

value assessment consider issues such as the remaining life of the asset and the projected disposal value.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover relates to the sales within the UK market. The policies adopted for the recognition of turnover are as follows:

Sales of goods

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the

amount of turnover can be measured reliable, it is probable that the economic benefits associated with the transaction will

flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliable. This

is usually on dispatch of the goods.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the rendering of services is recognised as the

service is performed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

not provided

Event Equipment

-

25% on cost

Furniture & office equipment

-

20% on cost

Marine Equipment

-

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Impairments

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet

date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and

compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is

recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation

decrease.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the report date as a result of a past

event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be

reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Short-term employee benefits

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction

price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Improvements

Furniture

to

Event

& office

property

Equipment

equipment

£

£

£

COST

At 1 January 2016

30,383

140,480

7,039

Additions

-

-

808

At 31 December 2016

30,383

140,480

7,847

DEPRECIATION

At 1 January 2016

-

135,120

5,380

Charge for year

-

2,614

827

At 31 December 2016

-

137,734

6,207

NET BOOK VALUE

At 31 December 2016

30,383

2,746

1,640

At 31 December 2015

30,383

5,360

1,659

Motor

Marine

vehicles

Equipment

Totals

£

£

£

COST

At 1 January 2016

220,339

11,288

409,529

Additions

24,667

-

25,475

At 31 December 2016

245,006

11,288

435,004

DEPRECIATION

At 1 January 2016

136,669

9,972

287,141

Charge for year

13,068

1,128

17,637

At 31 December 2016

149,737

11,100

304,778

NET BOOK VALUE

At 31 December 2016

95,269

188

130,226

At 31 December 2015

83,670

1,316

122,388

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Trade debtors

11,146

77,848

Directors' current accounts

110,669

114,418

Prepayments

9,872

12,937

131,687

205,203

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Other loans

46,254

8,856

Hire purchase contracts

6,706

4,892

Trade creditors

96,836

98,668

Tax

18,087

19,834

Social security and other taxes

1,397

8,211

VAT

30,612

54,284

Other creditors

1,581

13,881

Accrued expenses

11,467

10,966

212,940

219,592

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/16

31/12/15

£

£

Hire purchase contracts

6,072

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/16

31/12/15

£

£

Hire purchase contracts

12,778

-

The debts are secured against the assets to which they relate.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/16

31/12/15

value:

£

£

100

Ordinary shares

£1

100

100

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

31/12/16

31/12/15

£

£

M E Rimmer

Balance outstanding at start of year

114,418

68,521

Amounts advanced

110,669

115,897

Amounts repaid

(114,418

)

(70,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

110,669

114,418

The Directors Loan balance at 31st December 2016 was repaid in full on 20th April 2017.

11.	RELATED PARTY DISCLOSURES

During the year total dividends of £114,500 (2015 - £70,000) were paid to the shareholders.

Remuneration to key management personnel in the year totalled £45,440 (2015 - £43,722).