Financial Statements
Company Registration No. 03359376 (England and Wales)
ARCADE ASSOCIATES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
Financial Statements
ARCADE ASSOCIATES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
Financial Statements
ARCADE ASSOCIATES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
7,877
1,960
Current assets
Stocks
6,500
6,500
Debtors
9,089
4,233
Cash at bank and in hand
1,619
17,452
17,208
28,185
Creditors: amounts falling due within one year
(15,105)
(18,421)
Net current assets
2,103
9,764
Total assets less current liabilities
9,980
11,724
Creditors: amounts falling due after more than one year
(12,066)
(14,591)
Provisions for liabilities
(1,575)
(392)
(3,661)
(3,259)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(3,761)
(3,359)
Shareholders' funds
(3,661)
(3,259)
Financial Statements
ARCADE ASSOCIATES LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2016
30 April 2016
- 2 -
For the financial year ended 30 April 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 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 her 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 16 November 2016
Ms Kimberley Giddings
Director
Company Registration No. 03359376
Financial Statements
ARCADE ASSOCIATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
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).
Going Concern
At the balance sheet date the companies liabilities exceeded it’s assets and it’s ability to trade is dependent on the financial support of the current directors and shareholders. Such financial support will continue to be made and these accounts have been prepared on the basis that the company will continue to trade normally.
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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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:
Land and buildings Leasehold
Plant and machinery
25% Reducing Balance
Fixtures, fittings & equipment
25% Reducing Balance
Financial Statements
ARCADE ASSOCIATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 May 2015
25,000
14,342
39,342
Additions
-
8,541
8,541
At 30 April 2016
25,000
22,883
47,883
Depreciation
At 1 May 2015
25,000
12,381
37,381
Charge for the year
-
2,625
2,625
At 30 April 2016
25,000
15,006
40,006
Net book value
At 30 April 2016
-
7,877
7,877
At 30 April 2015
-
1,960
1,960
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100