Registered Number SC290071

ACA SPORTS LIMITED

Abbreviated Accounts

30 September 2016

ACA SPORTS LIMITED Registered Number SC290071

Abbreviated Balance Sheet as at 30 September 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 4,050 5,400
Tangible assets 3 31,955 27,427
36,005 32,827
Current assets
Stocks 385,149 395,006
Debtors 67,269 40,854
Cash at bank and in hand 800 800
453,218 436,660
Creditors: amounts falling due within one year 4 (393,448) (302,489)
Net current assets (liabilities) 59,770 134,171
Total assets less current liabilities 95,775 166,998
Creditors: amounts falling due after more than one year 4 (104,962) (125,643)
Provisions for liabilities (1,520) (2,085)
Accruals and deferred income (900) (1,050)
Total net assets (liabilities) (11,607) 38,220
Capital and reserves
Called up share capital 5 1,010 1,010
Profit and loss account (12,617) 37,210
Shareholders' funds (11,607) 38,220
  • For the year ending 30 September 2016 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 5 June 2017

And signed on their behalf by:
Greg Lochrie, Director
Blair Samuel, Director

ACA SPORTS LIMITED Registered Number SC290071

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company’s ordinary activities.

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

Leasehold properties - Straight line over the life of the lease
Plant and machinery - Straight line over two years
Fixtures, fittings
And equipment - 20% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 3 years straight line

Intangible assets amortisation policy
Goodwill

Acquired goodwill is is written off in equal annual instalments over its estimated useful economic life of 10 years.

Other accounting policies
Leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Stock

Stock is valued at the lower of cost and net realisable value.

Pensions

The pension costs charged in the financial statements represent the contributions payable by the company during the year.

Deferred Tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to that extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where , on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacements are sold;

Provision is made for deferred tax that would arise on the remittance of the retained earnings of overseas subsidiaries, associates and joint ventures only to the extent that, at the balance sheet date, dividends have been accrued as receivable;

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on a undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

2Intangible fixed assets
£
Cost
At 1 October 2015 288,500
Additions -
Disposals -
Revaluations -
Transfers -
At 30 September 2016 288,500
Amortisation
At 1 October 2015 283,100
Charge for the year 1,350
On disposals -
At 30 September 2016 284,450
Net book values
At 30 September 2016 4,050
At 30 September 2015 5,400
3Tangible fixed assets
£
Cost
At 1 October 2015 212,167
Additions 20,754
Disposals -
Revaluations -
Transfers -
At 30 September 2016 232,921
Depreciation
At 1 October 2015 184,740
Charge for the year 16,226
On disposals -
At 30 September 2016 200,966
Net book values
At 30 September 2016 31,955
At 30 September 2015 27,427
4Creditors
2016
£
2015
£
Instalment debts due after 5 years 12,757 57,218
5Called Up Share Capital

Ultimate parent undertaking

The ultimate parent company of ACA Sports Limited is AKIT Sports Limited, a company registered in the UK.