Registered Number SC290071
ACA SPORTS LIMITED
Abbreviated Accounts
30 September 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 4 |
( |
( |
Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 4 |
( |
( |
Provisions for liabilities |
( |
( |
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Accruals and deferred income |
( |
( |
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Total net assets (liabilities) |
( |
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Capital and reserves | |||
Called up share capital | 5 |
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Profit and loss account |
( |
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Shareholders' funds |
( |
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Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
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
Acquired goodwill is is written off in equal annual instalments over its estimated useful economic life of 10 years.
Other accounting policies
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.
£ | |
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Cost | |
At 1 October 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 September 2016 |
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Amortisation | |
At 1 October 2015 |
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Charge for the year |
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On disposals |
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At 30 September 2016 |
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Net book values | |
At 30 September 2016 | 4,050 |
At 30 September 2015 | 5,400 |
£ | |
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Cost | |
At 1 October 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 September 2016 |
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Depreciation | |
At 1 October 2015 |
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Charge for the year |
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On disposals |
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At 30 September 2016 |
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Net book values | |
At 30 September 2016 | 31,955 |
At 30 September 2015 | 27,427 |
2016
£ |
2015
£ |
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Instalment debts due after 5 years |
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