The Equestrian Centre Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC456352 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

FOR

THE EQUESTRIAN CENTRE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R H Morris

REGISTERED OFFICE:

147 Ground Floor Right

147 Bath Street

Glasgow

G2 4SQ

REGISTERED NUMBER:

SC456352 (Scotland)

ACCOUNTANTS:

Bannerman Johnstone Maclay

213 St Vincent Street

Glasgow

G2 5QY

FIXED ASSETS

Tangible assets

4

720,501

761,501

CURRENT ASSETS

Debtors

5

495,549

357,920

Cash at bank and in hand

127

27

495,676

357,947

CREDITORS

Amounts falling due within one year

6

1,876,794

1,717,661

NET CURRENT LIABILITIES

(1,381,118

)

(1,359,714

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(660,617

)

(598,213

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(660,618

)

(598,214

)

SHAREHOLDERS' FUNDS

(660,617

)

(598,213

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 profit or loss 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 31 January 2019 and were signed by:

R H Morris - Director

1.	STATUTORY INFORMATION

The Equestrian Centre Ltd is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis due to the continued support offered by

the company's director.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost, 25% on reducing balance, 20% on cost and 10% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2017

778,012

165,928

943,940

Additions

-

1,640

1,640

At 31 August 2018

778,012

167,568

945,580

DEPRECIATION

At 1 September 2017

62,241

120,198

182,439

Charge for year

15,560

27,080

42,640

At 31 August 2018

77,801

147,278

225,079

NET BOOK VALUE

At 31 August 2018

700,211

20,290

720,501

At 31 August 2017

715,771

45,730

761,501

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

25,578

4,195

Amounts owed by related undertakings

469,971

353,725

495,549

357,920

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

56,467

33,661

Amounts owed to related undertakings

1,805,859

1,673,548

Taxation and social security

605

1,877

Other creditors

13,863

8,575

1,876,794

1,717,661