Eight Investment Holdings Limited - Period Ending 2019-12-31
Eight Investment Holdings Limited - Period Ending 2019-12-31
Registration number:
Eight Investment Holdings Limited
for the Period from 1 April 2019 to 31 December 2019
Eight Investment Holdings Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Eight Investment Holdings Limited
Company Information
Director |
Mr Ian Riggs |
Company secretary |
Ms Laura Willard |
Registered office |
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Accountants |
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Eight Investment Holdings Limited
(Registration number: 09881425)
Balance Sheet as at 31 December 2019
Note |
2019 |
31 March |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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( |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' deficit |
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For the financial period ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
Eight Investment Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 1 April 2019 to 31 December 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency of the financial statements is British Pound £, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are round to the nearest £.
Going concern
The financial statements for the period ended 31 December 2019 have been prepared on a going concern basis. In making this going concern assessment, all available information about the foreseeable future has been taken into account. The company is currently being funded by The Eight Wealth Group Limited and will continue to do so in the near future.
Revenue recognition
Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Eight Investment Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 1 April 2019 to 31 December 2019
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Racehorse |
33.3% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Eight Investment Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 1 April 2019 to 31 December 2019
Tangible assets |
Racehorses |
Total |
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Cost or valuation |
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At 1 April 2019 |
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Disposals |
( |
( |
At 31 December 2019 |
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Depreciation |
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At 1 April 2019 |
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Charge for the period |
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Eliminated on disposal |
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At 31 December 2019 |
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Carrying amount |
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At 31 December 2019 |
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At 31 March 2019 |
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Investments |
2019 |
2019 |
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Interest in other participating interests |
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Syndicates |
£ |
Cost |
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At 1 April 2019 |
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Additions |
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Disposals |
( |
At 31 December 2019 |
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Carrying amount |
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At 31 December 2019 |
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At 31 March 2019 |
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Eight Investment Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 1 April 2019 to 31 December 2019
Debtors |
2019 |
2019 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2019 |
2019 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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