Premier Tennis Limited - Period Ending 2015-03-31

Registration number: 05392032

Premier Tennis Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Premier Tennis Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Premier Tennis Limited
(Registration number: 05392032)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					28,260			6,685
Current assets
Stocks					13,213			13,213
Debtors					42,828			26,162
Cash at bank and in hand					21,556			12,245
					77,597			51,620
Creditors: Amounts falling due within one year					(43,722)			(79,059)
Net current assets/(liabilities)					33,875			(27,439)
Total assets less current liabilities					62,135			(20,754)
Creditors: Amounts falling due after more than one year					(162,061)			(83,609)
Net liabilities					(99,926)			(104,363)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(100,026)			(104,463)
Shareholders' deficit					(99,926)			(104,363)

For the year ending 31 March 2015 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 director acknowledges his 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 director on 23 December 2015

.........................................
Mr Jeffrey Hunter
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Premier Tennis Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents income earned from the provision of tennis coaching and camps for adult and junior players in parks, clubs and schools.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance
Other tangible assets	2 years straight-line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Premier Tennis Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		9,914			9,914
Additions		26,300			26,300
At 31 March 2015		36,214			36,214
Depreciation
At 1 April 2014		3,229			3,229
Charge for the year		4,725			4,725
At 31 March 2015		7,954			7,954
Net book value
At 31 March 2015		28,260			28,260
At 31 March 2014		6,685			6,685

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Authorised of £1 each		100			100			100			100

Page 3