Company Registration No. 9570034 (England and Wales)
CHAMPION & REEVES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2016
CHAMPION & REEVES LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CHAMPION & REEVES LTD
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
Notes
£
£
Fixed assets
Tangible assets
2
27,675
Current assets
Stocks
10,000
Debtors
17,248
Cash at bank and in hand
57,392
84,640
Creditors: amounts falling due within one year
(25,965)
Net current assets
58,675
Total assets less current liabilities
86,350
Capital and reserves
Called up share capital
3
25,831
Share premium account
120,480
Profit and loss account
(59,961)
Shareholders' funds
86,350
For the financial Period ended 30 April 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 Period 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 31 January 2017
Mrs J Champion
Mr A Reeves
Director
Director
Company Registration No. 9570034
CHAMPION & REEVES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 APRIL 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 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:
Plant and machinery
25% on reducing balance
Fixtures and fittings
25% on Reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 30 April 2015
-
Additions
37,002
At 30 April 2016
37,002
Depreciation
At 30 April 2015
-
Charge for the period
9,327
At 30 April 2016
9,327
Net book value
At 30 April 2016
27,675
CHAMPION & REEVES LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2016
- 3 -
3
Share capital
2016
£
Allotted, called up and fully paid
2,530,400 A Ordinary of 1p each
25,304
52,700 B Investment of 1p each
527
25,831
4
Related party relationships and transactions
The company was under the control of Mr A Reeves and Mrs J Champion throughout the period. Mr Reeves and Mrs Champion are the Managing Directors, and together control the majority of the issued share capital.
Mr Reeves and Mrs Champion are the Managing Directors, and together control the majority of the issued share capital.
At the year end, an amount of £7,754 was owing to Sonic Games Limited, a company under common control. This is reflected within Other Creditors.
Also at the year end, an amount of £ 9,615 was due to the company from Top Draw Games Limited, another company under common control. This is reflected within Other Debtors.