Company Registration No. 06009269 (England and Wales)
POWERPLAY GOLF HOLDINGS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
POWERPLAY GOLF HOLDINGS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
POWERPLAY GOLF HOLDINGS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
1,524
12,848
Current assets
Debtors
39,928
39,928
Creditors: amounts falling due within one year
(825,390)
(825,390)
Net current liabilities
(785,462)
(785,462)
Total assets less current liabilities
(783,938)
(772,614)
Capital and reserves
Called up share capital
3
2,143
2,143
Share premium account
2,154,384
2,154,384
Profit and loss account
(2,940,465)
(2,929,141)
Shareholders' funds
(783,938)
(772,614)
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 6 March 2017
P McEvoy
Director
Company Registration No. 06009269
POWERPLAY GOLF HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 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).
The financial statements have been prepared on a going concern basis, which assumes the continued support of the shareholders.
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
Patents
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives of five years.
2
Fixed assets
Intangible assets
£
Cost
At 1 July 2015 & at 30 June 2016
56,607
Depreciation
At 1 July 2015
43,759
Charge for the year
11,324
At 30 June 2016
55,083
Net book value
At 30 June 2016
1,524
At 30 June 2015
12,848
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
214,300 Ordinary shares of 1p each
2,143
2,143
4
Related party relationships and transactions
Other transactions
At the year end there were amounts owing by the company to the following directors, D Hardy £43,500 (2015: £43,500), P McEvoy £98,433 (2015: £98,433) and K Schofield £35,000 (2015: £35,000).