Absolute Futbol Ltd - Period Ending 2016-07-31

Absolute Futbol Ltd - Period Ending 2016-07-31


Absolute Futbol Ltd 05887354 false true 2015-08-01 2016-07-31 2016-07-31 05887354 2015-08-01 2016-07-31 05887354 2016-07-31 05887354 uk-bus:OrdinaryShareClass1 2016-07-31 05887354 uk-bus:OrdinaryShareClass2 2016-07-31 05887354 uk-bus:Director1 2015-08-01 2016-07-31 05887354 uk-bus:Director2 2015-08-01 2016-07-31 05887354 uk-bus:OrdinaryShareClass1 2015-08-01 2016-07-31 05887354 uk-bus:OrdinaryShareClass2 2015-08-01 2016-07-31 05887354 uk-gaap:PlantMachinery 2015-08-01 2016-07-31 05887354 2015-07-31 05887354 2015-07-31 05887354 uk-bus:OrdinaryShareClass1 2015-07-31 05887354 uk-bus:OrdinaryShareClass2 2015-07-31 iso4217:GBP xbrli:shares

Registration number: 05887354

Absolute Futbol Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

 

Absolute Futbol Ltd
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 4

 

Absolute Futbol Ltd
(Registration number: 05887354)
Abbreviated Balance Sheet at 31 July 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

139

   

186

 

Current assets

 

             

Stocks

 

   

520

   

200

 

Debtors

 

3

   

6,260

   

-

 

Cash at bank and in hand

 

   

2,848

   

11,322

 
   

   

9,628

   

11,522

 

Creditors: Amounts falling due within one year

 

   

(9,443)

   

(8,870)

 

Net current assets

 

   

185

   

2,652

 

Total assets less current liabilities

 

   

324

   

2,838

 

Creditors: Amounts falling due after more than one year

 

   

-

   

(2,642)

 

Net assets

 

   

324

   

196

 

Capital and reserves

 

             

Called up share capital

 

4

   

10

   

10

 

Profit and loss account

 

   

314

   

186

 

Shareholders' funds

 

   

324

   

196

 

For the year ending 31 July 2016 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 26 April 2017 and signed on its behalf by:

.........................................
Mr Scott James Rogers
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

 

Absolute Futbol Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... 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 January 2015).

Turnover

Turnover represents amounts chargeable in respect of the services performed for customers. during the period.

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

Plant and machinery

25% reducing balance

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.

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.

 

Absolute Futbol Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 August 2015

 

1,578

   

1,578

 

At 31 July 2016

 

1,578

   

1,578

 

Depreciation

           

At 1 August 2015

 

1,392

   

1,392

 

Charge for the year

 

47

   

47

 

At 31 July 2016

 

1,439

   

1,439

 

Net book value

           

At 31 July 2016

 

139

   

139

 

At 31 July 2015

 

186

   

186

 

3

Debtors

Debtors includes £nil (2015 - £nil) receivable after more than one year.

 

4

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

A Ordinary shares of £1 each

 

5

   

5

   

5

   

5

 

B Ordinary shares of £1 each

 

5

   

5

   

5

   

5

 
   

10

   

10

   

10

   

10

 
 

Absolute Futbol Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

5

Related party transactions

Directors' advances and credits

 

2016
Advance/ Credit
£

2016
Repaid
£

2015
Advance/ Credit
£

2015
Repaid
£

Mr Lee Anthony Lysons

During the period an amount of £9,742.35 was advanced to the director.

9,742

-

-

-