Ascot Developments Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06649522 (England and Wales)

Financial Statements for the Year Ended 31 January 2019

for

Ascot Developments Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T P Riley

Mrs L S Riley

REGISTERED OFFICE:

122 South Road

Waterloo

Liverpool

Merseyside

L22 0ND

REGISTERED NUMBER:

06649522 (England and Wales)

ACCOUNTANTS:

Cobham Murphy

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Investment property

3

309,449

309,449

CURRENT ASSETS

Stocks

143,401

157,601

Debtors

4

3,039,586

636,709

Cash at bank

2,950,688

3,924,927

6,133,675

4,719,237

CREDITORS

Amounts falling due within one year

5

2,777,857

1,205,420

NET CURRENT ASSETS

3,355,818

3,513,817

TOTAL ASSETS LESS CURRENT LIABILITIES

3,665,267

3,823,266

CREDITORS

Amounts falling due after more than one year

6

(249,000

)

(249,000

)

PROVISIONS FOR LIABILITIES

(23,353

)

(23,353

)

NET ASSETS

3,392,914

3,550,913

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

3,392,912

3,550,911

SHAREHOLDERS' FUNDS

3,392,914

3,550,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 13 September 2019 and were signed on its behalf by:

T P Riley - Director

1.	STATUTORY INFORMATION

Ascot Developments Group Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

There are no judgements (apart from those involving estimates) that have had a significant effect on amounts

recognised in the financial statements.

Turnover

Turnover represents the fair value of the consideration of net property sales and rents received. Turnover is

recognised in the period that it relates to.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are

measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit

and loss.

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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2018

and 31 January 2019

309,449

NET BOOK VALUE

At 31 January 2019

309,449

At 31 January 2018

309,449

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade debtors

-

470,006

Amounts owed by participating interests

3,039,586

166,703

3,039,586

636,709

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade creditors

3,000

18,982

Amounts owed to participating interests

2,238,598

348,453

Taxation and social security

488,203

776,928

Other creditors

48,056

61,057

2,777,857

1,205,420

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.19

31.1.18

£

£

Other creditors

249,000

249,000

7.	RELATED PARTY DISCLOSURES