GR8 SPORTS LTD - Abbreviated accounts

GR8 SPORTS LTD - Abbreviated accounts


Registered number
07941326
GR8 SPORTS LTD
Abbreviated Accounts
29 February 2016
GR8 SPORTS LTD
Registered number: 07941326
Abbreviated Balance Sheet
as at 29 February 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 14,121 18,615
Current assets
Stocks 9,600 15,000
Debtors 18,954 17,474
Cash at bank and in hand 4,554 12,441
33,108 44,915
Creditors: amounts falling due within one year (40,497) (47,467)
Net current liabilities (7,389) (2,552)
Net assets 6,732 16,063
Capital and reserves
Called up share capital 3 2 2
Profit and loss account 6,730 16,061
Shareholders' funds 6,732 16,063
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Nichola Marr
Director
Approved by the board on 28 November 2016
GR8 SPORTS LTD
Notes to the Abbreviated Accounts
for the year ended 29 February 2016
1 Accounting policies
Basis of preparation
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
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance
2 Tangible fixed assets £
Cost
At 1 March 2015 27,398
Additions 213
At 29 February 2016 27,611
Depreciation
At 1 March 2015 8,783
Charge for the year 4,707
At 29 February 2016 13,490
Net book value
At 29 February 2016 14,121
At 28 February 2015 18,615
3 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 2 2 2
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