Amusement World Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 00786733 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

AMUSEMENT WORLD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

5

Chartered Accountants' Report

10

DIRECTOR:

J T Crole

SECRETARY:

L J Crole

REGISTERED OFFICE:

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 0LT

REGISTERED NUMBER:

00786733 (England and Wales)

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

FIXED ASSETS

Intangible assets

4

41,300

47,200

Tangible assets

5

1,082,171

1,043,950

1,123,471

1,091,150

CURRENT ASSETS

Stocks

9,752

9,000

Debtors

6

8,538

8,146

Prepayments and accrued income

12,034

11,235

Cash at bank and in hand

242,447

171,710

272,771

200,091

CREDITORS

Amounts falling due within one year

7

562,747

518,546

NET CURRENT LIABILITIES

(289,976

)

(318,455

)

TOTAL ASSETS LESS CURRENT LIABILITIES

833,495

772,695

CREDITORS

Amounts falling due after more than one year

8

(301,304

)

(328,771

)

PROVISIONS FOR LIABILITIES

10

(59,131

)

(48,498

)

NET ASSETS

473,060

395,426

CAPITAL AND RESERVES

Called up share capital

11

5,004

5,004

Capital redemption reserve

12

1,125

1,125

Retained earnings

12

466,931

389,297

SHAREHOLDERS' FUNDS

473,060

395,426

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 4 July 2017 and were signed by:

J T Crole - Director

1.	STATUTORY INFORMATION

Amusement World Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents gaming receipts in the year, stated net of value added tax and is all derived from the

company's principal activity.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Over lease term

Improvements to property

-

5% on cost and Straight line over 15 years

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

No depreciation is provided in respect of freehold property. This is not in accordance with FRS No.15 'Tangible

Fixed Assets'. In the opinion of the company's directors the open market value of the company's freehold

properties is in excess of their original cost. However, in the absence of a professional valuation the directors are

unable to quantify the excess. The properties are maintained so as their open market value does not fall below

their original cost. The maintenance costs are written off to the company's profit and loss account in the period

that they are incurred.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Investment properties

Investment properties are revalued annually by the directors or professional advisers in accordance with SSAP 19

and the aggregate surplus or deficit where appropriate is transferred to the investment revaluation reserve. No

depreciation is provided in respect of these properties, this is a departure from FRS 15 which requires that assets

be depreciated over their estimated useful lives and is necessary for the accounts to show a true and fair view.

Depreciation is only one of many factors reflected in the annual valuation and the amounts which might otherwise

have been shown cannot be separately identified and quantified.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

59,000

AMORTISATION

At 1 January 2016

11,800

Amortisation for year

5,900

At 31 December 2016

17,700

NET BOOK VALUE

At 31 December 2016

41,300

At 31 December 2015

47,200

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Short

to

property

leasehold

property

£

£

£

COST

At 1 January 2016

399,956

5,152

416,274

At 31 December 2016

399,956

5,152

416,274

DEPRECIATION

At 1 January 2016

-

1,030

58,715

Charge for year

-

1,031

4,190

Eliminated on disposal

-

-

-

At 31 December 2016

-

2,061

62,905

NET BOOK VALUE

At 31 December 2016

399,956

3,091

353,369

At 31 December 2015

399,956

4,122

357,559

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2016

905,064

10,654

1,737,100

Additions

96,084

-

96,084

Disposals

(3,114

)

-

(3,114

)

At 31 December 2016

998,034

10,654

1,830,070

DEPRECIATION

At 1 January 2016

630,742

2,663

693,150

Charge for year

48,394

1,998

55,613

Eliminated on disposal

(864

)

-

(864

)

At 31 December 2016

678,272

4,661

747,899

NET BOOK VALUE

At 31 December 2016

319,762

5,993

1,082,171

At 31 December 2015

274,322

7,991

1,043,950

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

192

-

Other debtors

8,346

8,146

8,538

8,146

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

27,468

26,061

Trade creditors

1,076

8,327

Tax

7,837

-

Social security and other taxes

8,684

20,229

Other creditors

100,173

97,033

Amount due to related entity

385,462

223,981

Directors' current accounts

5,392

7,145

Accrued expenses

26,655

135,770

562,747

518,546

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans - 1-2 years

49,270

27,468

Bank loans - 2-5 years

58,000

89,706

Bank loans more 5 yr by instal

194,034

211,597

301,304

328,771

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

194,034

211,597

9.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank loans

328,772

354,832

10.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

Capital allowances in excess of depreciation

59,131

48,498

Deferred

tax

£

Balance at 1 January 2016

48,498

Increase in provision

10,633

Balance at 31 December 2016

59,131

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

5,000

Ordinary A

1

5,000

5,000

4

Ordinary B-Z

1

4

4

5,004

5,004

12.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 January 2016

389,297

1,125

390,422

Profit for the year

98,634

98,634

Dividends

(21,000

)

(21,000

)

At 31 December 2016

466,931

1,125

468,056

13.	RELATED PARTY DISCLOSURES

The director Mr J.T. Crole is a director of Escal Investments Limited. As at 31 December 2016 Escal

Investments Limited was owed £373,737 (2015 - £212,256) from Amusement World Limited.

Mr J. T. Crole is also a director of Croles Amusements Limited, an amount of £11,725 (2015 - £11,725) is owed

at the balance sheet date to this company.

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J. T. Crole.

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Amusement World Limited for the year ended 31 December 2016 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Amusement World Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Amusement World Limited and state those matters that we have agreed to state to the director of Amusement World Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Amusement World Limited director for our work or for this report.

It is your duty to ensure that Amusement World Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Amusement World Limited. You consider that Amusement World Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Amusement World Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

4 July 2017