Registered Number 07347318

JUNCTION GAMES LIMITED

Abbreviated Accounts

31 August 2012

JUNCTION GAMES LIMITED Registered Number 07347318

Abbreviated Balance Sheet as at 31 August 2012

Notes 2012 2011
£ £
Fixed assets
Intangible assets 2 30,000 30,000
Tangible assets 3 1,080 1,350
31,080 31,350
Current assets
Cash at bank and in hand 1,373 14,692
1,373 14,692
Creditors: amounts falling due within one year 4 (39,176) (53,227)
Net current assets (liabilities) (37,803) (38,535)
Total assets less current liabilities (6,723) (7,185)
Total net assets (liabilities) (6,723) (7,185)
Capital and reserves
Called up share capital 5 1 1
Profit and loss account (6,724) (7,186)
Shareholders' funds (6,723) (7,185)
  • For the year ending 31 August 2012 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 20 May 2013

And signed on their behalf by:
MALICK MOHAMED IQBAL RAHMAN, Director

JUNCTION GAMES LIMITED Registered Number 07347318

Notes to the Abbreviated Accounts for the period ended 31 August 2012

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 April 2008.

Turnover policy
INCOME
Income represents gross commission received from providing card services and Licence fee relating to the business at 16 Moreton Avenue, Isleworth, Middlesex, TW7 4NW.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 20% on reducing balance.

Other accounting policies
OPERATING LEASE AGREEMENTS
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2 Intangible fixed assets
£
Cost
At 1 September 2011 30,000
Additions 0
Disposals -
Revaluations -
Transfers -
At 31 August 2012 30,000
Amortisation
At 1 September 2011 0
Charge for the year 0
On disposals -
At 31 August 2012 0
Net book values
At 31 August 2012 30,000
At 31 August 2011 30,000

GOODWILL
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its estimated useful life up to a maximum of 20
years. This length of time is presumed to be the maximum useful life of purchased goodwill because it is difficult to make projections beyond this period. Goodwill is reviewed for
impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable.

All Fixed assets are initially recorded at cost.

3 Tangible fixed assets
£
Cost
At 1 September 2011 1,500
Additions 0
Disposals -
Revaluations -
Transfers -
At 31 August 2012 1,500
Depreciation
At 1 September 2011 150
Charge for the year 270
On disposals -
At 31 August 2012 420
Net book values
At 31 August 2012 1,080
At 31 August 2011 1,350

DEPRECIATION
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 20% on reducing balance.

4 Creditors
2012
£
2011
£
Secured Debts 39,176 53,227
5 Called Up Share Capital
Allotted, called up and fully paid:
2012
£
2011
£
1 Ordinary shares of £1 each 1 1

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