Premier Tennis Limited - Period Ending 2014-03-31

Registration number: 05392032

Premier Tennis Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

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 2014

		Note			31 March 2014 £			31 March 2013 £
Fixed assets
Tangible fixed assets					6,685			1,752
Current assets
Stocks					13,213			618
Debtors					26,162			4,642
Cash at bank and in hand					12,245			-
					51,620			5,260
Creditors: Amounts falling due within one year					(79,059)			(16,908)
Net current liabilities					(27,439)			(11,648)
Total assets less current liabilities					(20,754)			(9,896)
Creditors: Amounts falling due after more than one year					(83,609)			-
Net liabilities					(104,363)			(9,896)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(104,463)			(9,996)
Shareholders' deficit					(104,363)			(9,896)

For the year ending 31 March 2014 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 23 December 2014 and signed on its behalf by:

.........................................
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 2014
......... 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 holiday tennis camps for 7 to 15 year olds, in addition to private coaching.

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.

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 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2013		2,753			2,753
Additions		7,161			7,161
At 31 March 2014		9,914			9,914
Depreciation
At 1 April 2013		1,001			1,001
Charge for the year		2,228			2,228
At 31 March 2014		3,229			3,229
Net book value
At 31 March 2014		6,685			6,685
At 31 March 2013		1,752			1,752

3	Share capital

Allotted, called up and fully paid shares

	31 March 2014						31 March 2013
		No.			£			No.			£
Authorised of £1 each		100			100			100			100

Page 3