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

REGISTERED NUMBER: SC456352 (Scotland)

FINANCIAL STATEMENTS

FOR THE PERIOD 1 SEPTEMBER 2018 TO 31 JANUARY 2020

FOR

THE EQUESTRIAN CENTRE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R H Morris

REGISTERED OFFICE:

C/O H. Morris & Company Limited

Morris Park

37 Rosyth Road

Glasgow

G5 0YD

REGISTERED NUMBER:

SC456352 (Scotland)

ACCOUNTANTS:

Bannerman Johnstone Maclay

213 St Vincent Street

Glasgow

G2 5QY

FIXED ASSETS

Tangible assets

4

685,326

720,501

CURRENT ASSETS

Debtors

5

117,731

495,549

Cash at bank

1,386

127

119,117

495,676

CREDITORS

Amounts falling due within one year

6

2,495,684

1,876,794

NET CURRENT LIABILITIES

(2,376,567

)

(1,381,118

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,691,241

)

(660,617

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(1,691,242

)

(660,618

)

SHAREHOLDERS' FUNDS

(1,691,241

)

(660,617

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2020 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 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 director and authorised for issue on 26 January 2021 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 period 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 period 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 period was 6 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2018

and 31 January 2020

778,012

167,568

945,580

DEPRECIATION

At 1 September 2018

77,801

147,278

225,079

Charge for period

22,043

13,132

35,175

At 31 January 2020

99,844

160,410

260,254

NET BOOK VALUE

At 31 January 2020

678,168

7,158

685,326

At 31 August 2018

700,211

20,290

720,501

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2018

£

£

Trade debtors

83,815

25,578

Amounts owed by related undertakings

-

469,971

Other debtors

33,916

-

117,731

495,549

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2018

£

£

Trade creditors

66,056

56,467

Amounts owed to related undertakings

2,408,172

1,805,859

Taxation and social security

522

605

Other creditors

20,934

13,863

2,495,684

1,876,794