Abbreviated Company Accounts - MM SPORTS LIMITED

Registered Number 07005869

MM SPORTS LIMITED

Abbreviated Accounts

31 May 2014

MM SPORTS LIMITED Registered Number 07005869

Abbreviated Balance Sheet as at 31 May 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	285,000	300,000
		285,000	300,000
Current assets
Debtors		76,191	1
Cash at bank and in hand		12,547	58,725
		88,738	58,726
Creditors: amounts falling due within one year		(66,412)	(79,818)
Net current assets (liabilities)		22,326	(21,092)
Total assets less current liabilities		307,326	278,908
Total net assets (liabilities)		307,326	278,908
Capital and reserves
Called up share capital		1	1
Profit and loss account		307,325	278,907
Shareholders' funds		307,326	278,908

For the year ending 31 May 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 13 February 2015

And signed on their behalf by:
M Whitehead, Director

MM SPORTS LIMITED Registered Number 07005869

Notes to the Abbreviated Accounts for the period ended 31 May 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Intangible assets amortisation policy
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 20% straight line

2Intangible fixed assets

	£
Cost
At 1 June 2013	300,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2014	300,000
Amortisation
At 1 June 2013	-
Charge for the year	15,000
On disposals	-
At 31 May 2014	15,000
Net book values
At 31 May 2014	285,000
At 31 May 2013	300,000