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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2016 |
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AMT SPORTS LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2016 |
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FOR |
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AMT SPORTS LIMITED |
AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2016 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Profit and Loss Account | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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AMT SPORTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MAY 2016 |
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The directors present their report with the financial statements of the company for the year ended 31 May 2016. |
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DIRECTORS |
The directors set out in the table below have held office during the whole of the period from 1 June 2015 to the date of |
this report. |
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The beneficial interests of the directors holding office at 31 May 2016 in the shares of the company, according to the |
register of directors' interests, were as follows: |
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31.5.16 | 1.6.15 |
Ordinary shares of £1 each |
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50 | 50 |
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50 | 50 |
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These directors did not hold any non-beneficial interests in the shares of the company. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with |
applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors |
have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting |
Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not |
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the |
company and of the profit or loss of the company for that period. In preparing these financial statements, the directors |
are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will
continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for |
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud |
and other irregularities. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021) |
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PROFIT AND LOSS ACCOUNT |
FOR THE YEAR ENDED 31 MAY 2016 |
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2016 | 2015 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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OPERATING PROFIT and |
PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION |
2 |
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Tax on profit on ordinary activities | 3 |
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(LOSS)/PROFIT FOR THE FINANCIAL
YEAR |
( |
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AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021) |
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BALANCE SHEET |
31 MAY 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Profit and loss account | 11 |
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SHAREHOLDERS' FUNDS |
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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. |
AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021) |
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BALANCE SHEET - continued |
31 MAY 2016 |
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The financial statements were approved by the Board of Directors on
by: |
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AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Goodwill |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to the profit and loss account in the period to which they relate. |
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2. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2016 | 2015 |
£ | £ |
Depreciation - owned assets |
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Goodwill amortisation |
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Directors' remuneration |
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The number of directors to whom retirement benefits were accruing was as follows: |
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Money purchase schemes |
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AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
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3. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit on ordinary activities for the year was as follows: |
2016 | 2015 |
£ | £ |
Current tax: |
UK corporation tax |
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Deferred tax | ( |
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Tax on profit on ordinary activities |
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Factors affecting the tax charge |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is |
explained below: |
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2016 | 2015 |
£ | £ |
Profit on ordinary activities before tax |
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Profit on ordinary activities |
multiplied by the standard rate of corporation tax |
in the UK of
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Effects of: |
Expenses not deductible for tax purposes |
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Depreciation in excess of capital allowances |
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Current tax charge |
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4. | DIVIDENDS |
2016 | 2015 |
£ | £ |
Final | 60,000 | 60,000 |
AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 June 2015 |
and 31 May 2016 |
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AMORTISATION |
At 1 June 2015 |
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Amortisation for year |
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At 31 May 2016 |
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NET BOOK VALUE |
At 31 May 2016 |
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At 31 May 2015 |
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6. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 1 June 2015 |
and 31 May 2016 |
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DEPRECIATION |
At 1 June 2015 |
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Charge for year |
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At 31 May 2016 |
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NET BOOK VALUE |
At 31 May 2016 |
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At 31 May 2015 |
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7. | STOCKS |
2016 | 2015 |
£ | £ |
Stocks |
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AMT SPORTS LIMITED (REGISTERED NUMBER: 06265021) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT |
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Directors' current accounts |
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Accrued expenses |
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9. | PROVISIONS FOR LIABILITIES |
2016 | 2015 |
£ | £ |
Deferred tax |
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Deferred |
tax |
£ |
Balance at 1 June 2015 |
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Accelerated capital allowances | ( |
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Balance at 31 May 2016 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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11. | RESERVES |
Profit |
and loss |
account |
£ |
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At 1 June 2015 |
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Deficit for the year | ( |
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Dividends | ( |
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At 31 May 2016 |
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