The Running Rabbit Ltd. - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03075991 (England and Wales)

The Running Rabbit Ltd.

Unaudited Financial Statements

for the Year Ended 31st August 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

D F Appleyard

J.R. Lucas

A J Mitchell

SECRETARY:

M.C. Brown

REGISTERED OFFICE:

310 Wellingborough Road

Northampton

Northamptonshire

NN1 4EP

BUSINESS ADDRESS:

Chitts Hill

Lexden

Colchester

Essex

CO3 5ST

REGISTERED NUMBER:

03075991 (England and Wales)

ACCOUNTANTS:

Cheney & Co

310 Wellingborough Road

Northampton

NN1 4EP

FIXED ASSETS

Tangible assets

5

117,034

91,005

CURRENT ASSETS

Stocks

1,646

1,548

Debtors

6

34,267

15,795

Cash in hand

376

376

36,289

17,719

CREDITORS

Amounts falling due within one year

7

351,372

248,792

NET CURRENT LIABILITIES

(315,083

)

(231,073

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(198,049

)

(140,068

)

CREDITORS

Amounts falling due after more than one year

8

10,200

72,077

NET LIABILITIES

(208,249

)

(212,145

)

CAPITAL AND RESERVES

Called up share capital

10

99

99

Retained earnings

(208,348

)

(212,244

)

SHAREHOLDERS' FUNDS

(208,249

)

(212,145

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors on 8th March 2018 and were signed on its behalf by:

D F Appleyard - Director

1.	STATUTORY INFORMATION

The Running Rabbit 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal activity of the company in the year under review was that of a sports and leisure club.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31st August 2017 are the first financial statements that comply

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". The date of transition is 1st September 2015.

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

These policies have been consistency applied to all years presented unless otherwise stated.

Turnover

Turnover represents the value, excluding value added tax, of goods and services supplies to customers during

the year.

Tangible fixed assets

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

Leasehold improvements

-

15% on reducing balance and 10% on reducing balance

Fixtures, fittings & equipment

-

50% on reducing balance and 15% on reducing balance

Stocks

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

slow moving items.

In the case of stocks for resale , cost means invoice price on a first in, first out basis. Net realisable value means

estimated selling price.

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.

Going concern

The financial statements have been prepared on the going concern basis as the directors will continue to

support the company.Therefore in the opinion of the directors the company will continue to trade for a period of

twelve months following the approval of these financial statement.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2016 - 13 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures,

Leasehold

fittings

improvements

& equipment

Totals

£

£

£

COST

At 1st September 2016

128,404

194,368

322,772

Additions

-

34,454

34,454

At 31st August 2017

128,404

228,822

357,226

DEPRECIATION

At 1st September 2016

74,568

157,199

231,767

Charge for year

1,937

6,488

8,425

At 31st August 2017

76,505

163,687

240,192

NET BOOK VALUE

At 31st August 2017

51,899

65,135

117,034

At 31st August 2016

53,836

37,169

91,005

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

2,907

653

Other debtors

31,360

15,142

34,267

15,795

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

71,744

74,866

Trade creditors

49,328

34,190

Taxation and social security

724

3,213

Other creditors

229,576

136,523

351,372

248,792

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

10,200

72,077

9.	DEFERRED TAX

£

Balance at 1st September 2016

(12,000

)

Charge to Income Statement during year

3,500

Balance at 31st August 2017

(8,500

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

99

Ordinary

£1

99

99

11.	CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st August 2017 or 31st August 2016.

12.	CAPITAL COMMITMENTS

There were no capital commitments as at 31st August 2017 or 31st August 2016.

13.	RELATED PARTY DISCLOSURES