Racecourse Promoters Association Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02265807 (England and Wales)

Financial Statements

for the Year Ended 31 October 2019

for

Racecourse Promoters Association Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms R E Corden

Mr W A Glass

Mr S J Franklin

Mr J C McKenna

Mr I R Smyth

REGISTERED OFFICE:

Fifth Floor 100 Victoria Street

Bristol

BS1 6HZ

REGISTERED NUMBER:

02265807 (England and Wales)

AUDITORS:

R T Marke & Co Ltd

Statutory Auditors and Chartered Accountants

69 High Street

Bideford

Devon

EX39 2AT

FIXED ASSETS

Tangible assets

5

-

128

CURRENT ASSETS

Debtors

6

204

679

Cash at bank

111,461

105,152

111,665

105,831

CREDITORS

Amounts falling due within one year

7

5,885

6,126

NET CURRENT ASSETS

105,780

99,705

TOTAL ASSETS LESS CURRENT LIABILITIES

105,780

99,833

RESERVES

Income and expenditure account

105,780

99,833

105,780

99,833

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2020 and were signed on its behalf by:

Mr W A Glass - Director

1.	STATUTORY INFORMATION

Racecourse Promoters Association Ltd is a private company, limited by guarantee , 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.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and

remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Income

Income was derived from the company's principal activity which was carried out wholly in the UK and represents

subscriptions from members for the year.

Tangible fixed assets

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

Plant and machinery

-

25% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating

as intended by management.

Financial instruments

Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in

administrative expenses. Loans and borrowings are initially recognised at the transaction price including

transaction costs.

Taxation

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

Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Going concern

Having regard to the company's anticipated future revenues and costs including repayment of debt where

appropriate, together with the expected availability of working capital, the directors consider that it is appropriate

to prepare the financial statements on the going concern basis.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 November 2018

and 31 October 2019

3,814

DEPRECIATION

At 1 November 2018

3,686

Charge for year

128

At 31 October 2019

3,814

NET BOOK VALUE

At 31 October 2019

-

At 31 October 2018

128

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

204

679

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

113

125

Taxation and social security

9

-

Other creditors

5,763

6,001

5,885

6,126

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Sims BSc FCA (Senior Statutory Auditor)

for and on behalf of R T Marke & Co Ltd

9.	MEMBERSHIP

The company is limited by guarantee and does not have any share capital.

In the event of the company being wound up the members of the company are liable to contribute to any

deficiency there may be provided that such contributions shall not exceed £5 per member.

Past members retain their liability for one year after their membership has lapsed.

Total number of members at 31 October 2019 was 18 (2018 - 20).