Room of Games Ltd - Accounts to registrar (filleted) - small 18.2
Room of Games Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
| FOR |
| ROOM OF GAMES LTD |
| ROOM OF GAMES LTD (REGISTERED NUMBER: 09063076) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 December 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ROOM OF GAMES LTD |
| COMPANY INFORMATION |
| for the year ended 31 December 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Unit 2 |
| Charnwood Edge Business Park |
| Syston Road |
| Leicester |
| LE7 4UZ |
| ROOM OF GAMES LTD (REGISTERED NUMBER: 09063076) |
| BALANCE SHEET |
| 31 December 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| ROOM OF GAMES LTD (REGISTERED NUMBER: 09063076) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 December 2018 |
| 1. | STATUTORY INFORMATION |
| Room of Games Ltd is a limited company, registered in England and Wales. Its registered office address is Sital |
| House, 3-6 Cattle Market, Loughborough, Leicestershire, LE11 3DL and the registered number is 09063076. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is recognised as the fair value of the consideration received or receivable for goods and services |
| provided in the normal course of business, and is shown net of VAT and other sales related taxes. |
| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods |
| have passed to the customer, the amount of revenue can be measured reliably, it is probable that the economic |
| benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect |
| of the transaction can be measured reliably. |
| Tangible fixed assets |
| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of |
| depreciation and any impairment losses. |
| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their |
| useful lives on the following basis: |
| Fixtures & fittings | 10% straight line |
| Computer equipment | 10% straight line |
| The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds |
| and the carrying value of the asset, and is credited or charged to profit or loss. |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based |
| on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and |
| attributable overheads. |
| At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is |
| reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in |
| profit or loss. |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial |
| assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to |
| related parties and investments in non-puttable ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
| for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
| recognised in profit or loss. |
| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
| enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
| the asset and settle the liability simultaneously. |
| ROOM OF GAMES LTD (REGISTERED NUMBER: 09063076) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 December 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| The tax expense for the year comprises current and deferred tax. |
| Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised |
| as other comprehensive income or to an item recognised directly in equity is also recognised in other |
| comprehensive income or directly in equity respectively. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by |
| the Balance Sheet date, except that: |
| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered |
| against the reversal of deferred tax liabilities or other future taxable profits; and |
| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have |
| been met. |
| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively |
| enacted by the balance sheet date. |
| 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 profit or loss in the period to which they relate. |
| Debtors |
| Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
| arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
| future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost |
| using the effective interest method, less any impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and |
| other short-term highly liquid investments that mature in no more than three months from the date of acquisition |
| and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| Creditors |
| Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related |
| parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, |
| where the debt instrument is measured at the present value of the future payments discounted at a market rate |
| of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less |
| any impairment. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2018 |
| and 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| ROOM OF GAMES LTD (REGISTERED NUMBER: 09063076) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 December 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts due from associated undertakings |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| VAT | - | 10,528 |
| Other creditors |
| Amounts due to associated undertakings | 67,383 | 49,063 |
| Accruals and deferred income |