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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
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FNATIC LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
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FOR |
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FNATIC LTD |
FNATIC LTD (REGISTERED NUMBER: 07805670) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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FNATIC LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Management Accountants |
Stapleton House |
Block A, 2nd Floor |
110 Clifton Street |
London |
EC2A 4HT |
FNATIC LTD (REGISTERED NUMBER: 07805670) |
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STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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Investments | 7 |
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CURRENT ASSETS |
Debtors | 8 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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( |
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The director acknowledges his 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. |
FNATIC LTD (REGISTERED NUMBER: 07805670) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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FNATIC LTD (REGISTERED NUMBER: 07805670) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Fnatic Ltd is a
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number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
No significant judgements or estimates have been used in order to arrive at the figures contained within the |
financial statements. |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Sponsorship income |
Sponsorships received in the year are recognised in the profit and loss account so as to match them with the |
expenditure towards which they are intended to contribute. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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FNATIC LTD (REGISTERED NUMBER: 07805670) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Going concern |
The financial statements have been prepared on the going concern basis. The directors have a reasonable |
expectation that the company will continue to trade profitably and have adequate resources to continue in |
operational existence for the foreseeable future. The directors are therefore of the opinion that they should |
continue to adopt the going concern basis in preparing the annual financial statements. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INTANGIBLE FIXED ASSETS |
Trademark |
£ |
COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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AMORTISATION |
At 1 January 2016 |
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Amortisation for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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FNATIC LTD (REGISTERED NUMBER: 07805670) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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7. | FIXED ASSET INVESTMENTS |
Investments |
in |
subsidiary |
undertakings |
£ |
COST |
Additions |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
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Amounts owed by related party |
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Other debtors |
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FNATIC LTD (REGISTERED NUMBER: 07805670) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade creditors |
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Amounts owed to related party |
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Taxation and social security |
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Other creditors |
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10. | RELATED PARTY DISCLOSURES |
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Fnatic PTY Limited |
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Common directorship |
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Loan from the company |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due from related party at the balance sheet date | 198,355 | 214,684 |
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Sannpa Limited |
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Parent company |
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Loan to the company |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due to related party at the balance sheet date | 2,400,481 | 749,521 |
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Fnatic Gear |
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Intercompany |
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Loan from the company |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due from related party at the balance sheet date | 1,214,928 | - |
FNATIC LTD (REGISTERED NUMBER: 07805670) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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10. | RELATED PARTY DISCLOSURES - continued |
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Fnatic GmbH |
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Intercompany |
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Loan from the company |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due from related party at the balance sheet date | 31,165 | - |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Sannpa Limited, a company incorporated in England and Wales, by virtue of its |
shareholdings in the company. |
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12. | SHARE-BASED PAYMENT TRANSACTIONS |
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The company operates an EMI option scheme for eligible employees. At the date of the statement of financial |
position, the company had granted 2,023 options to 2 employees of which 1,280 had been previously exercised. |
All options have a vesting period of 3 years. |
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The expense of the scheme is recognised in this company with the liability being recognised in the company that |
the options have been granted in. |
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13. | FIRST YEAR ADOPTION OF FRS 102 |
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This is the first year that the company has presented its results and financial position in accordance with FRS |
102. The last financial statements under UK GAAP were for the year ended 31 December 2015.The date that the |
company transitioned to FRS 102 was 1 January 2015. |
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The policies applied under the entity's previous accounting framework are not materially different to FRS 102 |
and have no impacted on equity or profit or loss. |