Company Registration No. 02772146 (England and Wales)
PERCENTAGE SPORTS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
PERCENTAGE SPORTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PERCENTAGE SPORTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2015
31 January 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
6,059
6,747
Current assets
Stocks
19,750
22,250
Debtors
3,572
-
Cash at bank and in hand
33,160
39,039
56,482
61,289
Creditors: amounts falling due within one year
(53,491)
(59,214)
Net current assets
2,991
2,075
Total assets less current liabilities
9,050
8,822
Capital and reserves
Called up share capital
3
5
5
Profit and loss account
9,045
8,817
Shareholders' funds
9,050
8,822
For the financial year ended 31 January 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have 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 1 September 2015
Louise Harris
Director
Company Registration No. 02772146
PERCENTAGE SPORTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
- 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 April 2008).
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 amounts receivable for goods and services net of VAT and trade discounts.
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:
Computer equipment
Fixtures, fittings & equipment
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2014
28,906
Additions
2,098
Disposals
(1,012)
At 31 January 2015
29,992
Depreciation
At 1 February 2014
22,159
On disposals
(443)
Charge for the year
2,217
At 31 January 2015
23,933
Net book value
At 31 January 2015
6,059
At 31 January 2014
6,747
PERCENTAGE SPORTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
4 Ordinary of £1 each
4
4
1 Ordinary B of £1 each
1
1
5
5