AB Sport Horses Limited Company Accounts

COMPANY REGISTRATION NUMBER: 05830589

AB SPORT HORSES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2017

AB SPORT HORSES LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2017

CONTENTS	PAGES

Statement of financial position	1 to 2

Notes to the financial statements	3 to 4

AB SPORT HORSES LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2017

	2017		2016
Note	£	£	£	£

CURRENT ASSETS

Stocks		33,990	46,632
Debtors	5	94,137	70,637
Cash at bank and in hand		106,129	58,074
		---------	---------
		234,256	175,343

CREDITORS: amounts falling due within one year	6	146,419		122,452
		---------		---------
NET CURRENT ASSETS			87,837		52,891
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			87,837		52,891
			--------		--------
NET ASSETS			87,837		52,891
			--------		--------

CAPITAL AND RESERVES

Called up share capital	1	1
Profit and loss account	87,836	52,890
	--------	--------
SHAREHOLDERS FUNDS	87,837	52,891
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

AB SPORT HORSES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2017

These financial statements were approved by the board of directors and authorised for issue on 19 December 2017 , and are signed on behalf of the board by:

A.J. Bolton
Director

Company registration number: 05830589

AB SPORT HORSES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2017

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 73 Bankside Lane, Bacup, Lancashire, OL13 8HP.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.

(c) Revenue recognition

The turnover shown in the profit and loss account represents the invoice value of goods supplied and services provided during the year, exclusive of Value Added Tax.

(d) Taxation

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

(e) Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

(f) Financial instruments

Basic financial instruments are recognised at amortised cost.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).

5. DEBTORS

	2017	2016
	£	£
Trade debtors	4,124	–
Amounts owed by group undertakings	90,013	68,107
Other debtors	–	2,530
	--------	--------
	94,137	70,637
	--------	--------

6. CREDITORS: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	30,769	2,441
Accruals and deferred income	2,250	2,250
Corporation tax	5,311	4,533
Social security and other taxes	5,090	304
Director loan accounts	102,999	112,924
	---------	---------
	146,419	122,452
	---------	---------

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

There are no transactions with directors that require disclosure under FRS 102.

8. RELATED PARTY TRANSACTIONS

The company was under the control of the director, A.J. Bolton , throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under the provisions of FRS 102 Section 1A.

9. CONTROLLING PARTY

The company is a wholly owned subsidiary of Merecourt Properties Limited, a company registered in England and Wales. At 31 March 2017 the company's ultimate parent company was Merecourt Properties Limited.

10. TRANSITION TO FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.