REGISTERED NUMBER: 04454506

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

for

Academy of Gymnastics Club Limited

(A company limited by guarantee)

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs E C Kincaid

J R Kincaid

SECRETARY:

Mrs E C Kincaid

REGISTERED OFFICE:

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

REGISTERED NUMBER:

04454506

ACCOUNTANTS:

Dunkley's

Chartered Accountants

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Tangible assets

2

61,450

75,280

CURRENT ASSETS

Debtors

9,343

13,842

Cash at bank

34,627

15,773

43,970

29,615

CREDITORS

Amounts falling due within one year

75,214

73,812

NET CURRENT LIABILITIES

(31,244

)

(44,197

)

TOTAL ASSETS LESS CURRENT LIABILITIES

30,206

31,083

PROVISIONS FOR LIABILITIES

1,649

1,787

NET ASSETS

28,557

29,296

RESERVES

Income and expenditure account

28,557

29,296

28,557

29,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 surplus or deficit 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 7 March 2017 and were signed on its behalf by:

Mrs E C Kincaid - 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.

Tangible fixed assets

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

Improvements to property

-

20% on reducing balance

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Deferred tax

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

sheet date.

Grant income

Grant income is recognised in the profit and loss account in the same period as the related expenditure. Grant

income relating to the purchase of fixed assets will be recognised over the life of the asset.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

128,815

Additions

2,541

At 30 June 2016

131,356

DEPRECIATION

At 1 July 2015

53,535

Charge for year

16,371

At 30 June 2016

69,906

NET BOOK VALUE

At 30 June 2016

61,450

At 30 June 2015

75,280

3.	RELATED PARTY DISCLOSURES

Kincaid Academy Limited

A company which shares common directors and shareholders.

The value of loan transactions made during the year to Kincaid Academy Limited amounted to £102,831 (2015 -

£105,645). The loan transactions made by Kincaid Academy Limited during the year amounted to £82,143

(2014 - £99,730).

30.6.16

30.6.15

£

£

Amount due (to)/from related party at the balance sheet date

(19,777

)

912