NEWCASTLE_EAGLES_(BASKETB - Accounts

NEWCASTLE EAGLES (BASKETBALL) LIMITED - Company Information

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Company Registration No. 03041174 (England and Wales)

NEWCASTLE EAGLES (BASKETBALL) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

NEWCASTLE EAGLES (BASKETBALL) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

NEWCASTLE EAGLES (BASKETBALL) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

6,594

10,334

Investments

6,612

10,334

Current assets

Stocks

5,932

376

Debtors

134,495

84,500

140,427

84,876

Creditors: amounts falling due within one year

(143,620)

(93,627)

Net current liabilities

(3,193)

(8,751)

Total assets less current liabilities

3,419

1,583

Capital and reserves

Called up share capital

100

Profit and loss account

3,319

1,483

Shareholders' funds

3,419

1,583

For the financial year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 May 2017

P Blake

Director

Company Registration No. 03041174

NEWCASTLE EAGLES (BASKETBALL) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

50% straight line

Fixtures, fittings and equipment

10 - 20% straight line

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 August 2015

93,547

Additions

1,230

1,248

At 31 July 2016

94,777

94,795

Depreciation

At 1 August 2015

83,213

Charge for the year

4,970

At 31 July 2016

88,183

Net book value

At 31 July 2016

6,594

6,612

At 31 July 2015

10,334

NEWCASTLE EAGLES (BASKETBALL) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

100 ordinary shares of £1 each

100

NEWCASTLE EAGLES (BASKETBALL) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 4 -

Related party relationships and transactions

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

P Blake

16,742

65,953

(73)

33,944

48,678

16,742

65,953

(73)

33,944

48,678