ACT Outdoors Limited - Accounts to registrar (filleted) - small 17.3
ACT Outdoors Limited - Accounts to registrar (filleted) - small 17.3
| ACT Outdoors Limited |
| Financial Statements for the Year Ended 31 July 2017 |
| ACT Outdoors Limited |
| Company Information |
| for the Year Ended 31 July 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Radnor House |
| Greenwood Close |
| Cardiff Gate Business Park |
| Cardiff |
| CF23 8AA |
| BANKERS: |
| Cardiff Business Centre |
| 121 Queen Street |
| Cardiff |
| CF1 4XU |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| ACT Outdoors Limited |
| The following reproduces the text of the report prepared for the directors in respect of the |
| company's annual unaudited financial statements. In accordance with the Companies Act |
| 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the |
| Income Statement and certain other primary statements and the Report of the Directors are |
| not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for |
| your approval the financial statements of ACT Outdoors Limited for the year ended 31 July 2017 |
| which comprise the Income Statement, Balance Sheet and the related notes from the company's |
| accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of ACT Outdoors Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of ACT Outdoors Limited and state those matters that we have agreed to state to the Board of Directors of ACT Outdoors Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ACT Outdoors Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that ACT Outdoors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of ACT Outdoors Limited. You consider that ACT Outdoors Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of ACT Outdoors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| ACT Outdoors Limited (Registered number: 07775180) |
| Balance Sheet |
| 31 July 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non-distributable reserve | 9 | ( |
) | ( |
) |
| Retained earnings | 9 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| ACT Outdoors Limited (Registered number: 07775180) |
| Balance Sheet - continued |
| 31 July 2017 |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on signed on its behalf by: |
| ACT Outdoors Limited (Registered number: 07775180) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2017 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rental income, excluding VAT. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Office Equipment | - |
| Investment property |
| Investment properties have been revalued in accordance with the provisions of FRS 102. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 3. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Office |
| machinery | fittings | vehicles | Equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 August 2016 |
| Additions |
| At 31 July 2017 |
| DEPRECIATION |
| At 1 August 2016 |
| Charge for year |
| At 31 July 2017 |
| NET BOOK VALUE |
| At 31 July 2017 |
| At 31 July 2016 |
| ACT Outdoors Limited (Registered number: 07775180) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2017 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 August 2016 |
| and 31 July 2017 |
| NET BOOK VALUE |
| At 31 July 2017 |
| At 31 July 2016 |
| Fair value at 31 July 2017 is represented by: |
| £ |
| Valuation in 2015 | 51,569 |
| Valuation in 2016 | (75,000 | ) |
| Cost | 373,431 |
| 350,000 |
| The director's are satisfied that the value in the financial statements reflects fair market |
| value. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors & prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loan and overdraft |
| Amounts owed to related party |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| VAT | - |
| Other creditors |
| Directors' loan accounts | - |
| Accrued expenses |
| ACT Outdoors Limited (Registered number: 07775180) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank Loans |
| Other creditors | - | (1 | ) |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loan and overdraft |
| 9. | RESERVES |
| Retained | Non-distributable |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 August 2016 | ( |
) | ( |
) | (200,873 | ) |
| Deficit for the year | ( |
) | ( |
) |
| At 31 July 2017 | ( |
) | ( |
) | (301,278 | ) |