REGISTERED NUMBER: 05812497 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2016

FOR

ELITE SWIM LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs J Copley

Miss N Groom

SECRETARY:

Miss N Groom

REGISTERED OFFICE:

42 Huddersfield Road

Barnsley

South Yorkshire

S75 1DW

REGISTERED NUMBER:

05812497 (England and Wales)

ACCOUNTANTS:

Cameron Alexander Accountants Limited

Chartered Certified Accountants

42 Huddersfield Road

Barnsley

South Yorkshire

S75 1DW

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

4,449

5,932

4,449

5,932

CURRENT ASSETS

Stocks

33,213

47,579

Debtors

29,712

85,640

Cash at bank and in hand

6,661

13,529

69,586

146,748

CREDITORS

Amounts falling due within one year

4

50,811

125,675

NET CURRENT ASSETS

18,775

21,073

TOTAL ASSETS LESS CURRENT LIABILITIES

23,224

27,005

CREDITORS

Amounts falling due after more than one year

4

(21,768

)

(24,152

)

PROVISIONS FOR LIABILITIES

(890

)

(179

)

NET ASSETS

566

2,674

CAPITAL AND RESERVES

Called up share capital

5

2

2

Profit and loss account

564

2,672

SHAREHOLDERS' FUNDS

566

2,674

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

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

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 February 2017 and were signed on its behalf by:

Miss N Groom - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

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

moving items.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

5,500

AMORTISATION

At 1 June 2015

and 31 May 2016

5,500

NET BOOK VALUE

At 31 May 2016

-

At 31 May 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

17,798

DEPRECIATION

At 1 June 2015

11,866

Charge for year

1,483

At 31 May 2016

13,349

NET BOOK VALUE

At 31 May 2016

4,449

At 31 May 2015

5,932

4.

CREDITORS

Creditors include an amount of £ 25,463 (31.5.15 - £ 27,752 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.5.16

31.5.15

£

£

Repayable by instalments

21,768

24,152

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

£

2

Ordinary

£1

2

2

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES