Sportscover Direct Limited
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For the period ended 29 February 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 02586372
Sportscover Direct Limited
For the period ended 29 February 2016
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
Abbreviated Balance Sheet
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Sportscover Direct Limited
2016
2015
2
226,713
199,094
226,713
199,094
49,575
-
401,731
243,876
401,731
293,451
Creditors
:
amounts falling due within one year
|
(301,162)
(366,699)
(7,711)
35,032
Net current assets
Total assets less current liabilities
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261,745
191,383
261,745
Net assets
191,383
100
3
100
261,645
191,283
261,745
191,383
Shareholders funds
For the period ended 29 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476;
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2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
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Date approved by the board: 11 August 2016
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Signed on behalf of the board of directors
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Notes to the Abbreviated Financial Statements
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Sportscover Direct Limited
For the period ended 29 February 2016
The financial statements are 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange
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ruling at the balance sheet date
.
Transactions in foreign currencies are recorded at the rate ruling at the date of the
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transaction
.
All foreign exchange differences are included to the profit and loss account
.
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Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
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by the shareholders prior to the balance sheet date
.
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Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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Land and Buildings
Plant and Machinery
2 of 3
Notes to the Abbreviated Financial Statements
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Sportscover Direct Limited
For the period ended 29 February 2016
351,393
91,894
443,287
152,299
64,275
Charge for period
216,574
226,713
199,094
Allotted called up and fully paid
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2016
2015
100
Ordinary shares of £
1
.
00
each
|
100
100
100
100
3 of 3