SIMON ICKRINGILL SPORTS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
Company Registration No. 01704962 (England and Wales)
SIMON ICKRINGILL SPORTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SIMON ICKRINGILL SPORTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
99
116
Current assets
Stocks
35,272
32,806
Debtors
1,850
-
Cash at bank and in hand
3,843
1,954
40,965
34,760
Creditors: amounts falling due within one year
(4,870)
(4,812)
Net current assets
36,095
29,948
Total assets less current liabilities
36,194
30,064
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
36,094
29,964
Shareholder's funds
36,194
30,064
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 12 October 2016
Simon Ickringill
Director
Company Registration No. 01704962
SIMON ICKRINGILL SPORTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents the invoiced amount of goods sold and services provided.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
15% per annum (reducing balance)
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2015 & at 31 January 2016
2,490
Depreciation
At 1 February 2015
2,374
Charge for the year
17
At 31 January 2016
2,391
Net book value
At 31 January 2016
99
At 31 January 2015
116
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
Related party relationships and transactions
SIMON ICKRINGILL SPORTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
4
Related party relationships and transactions
(Continued)
- 3 -
Loans from directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Simon Ickringill - Directors Loan
-
2,763
504
-
5,117
(1,850)
2,763
504
-
5,117
(1,850)