Company Registration No. 07648597 (England and Wales)
THE BUSINESS OF SPORT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
THE BUSINESS OF SPORT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
THE BUSINESS OF SPORT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Current assets
Debtors
4,435
451
Cash at bank and in hand
8,309
2,978
12,744
3,429
Creditors: amounts falling due within one year
(7,997)
(3,339)
Total assets less current liabilities
4,747
90
Capital and reserves
Called up share capital
2
1,000
1
Profit and loss account
3,747
89
Shareholders' funds
4,747
90
For the financial year ended 31 March 2015 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 and authorised for issue on 23 November 2015
J G Horner
Director
Company Registration No. 07648597
THE BUSINESS OF SPORT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
The company meets its day to day working capital requirements through the support of its directors and shareholder. The nature of the company’s business is such that there can be considerable unpredictable variation in the timing of cash inflows. The Directors consider that the company will continue to operate with the support of its directors. However, the margin of facilities over requirements is not large and, inherently there can be no certainty in relation to these matters. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of the directors and shareholder.
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
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1,000 Ordinary shares of £1 each
1,000
1
During the year
999
ordinary shares of £
1
each were allotted and fully paid at par for cash consideration to provide additional working capital.