Team Ascot Limited - Limited company - abbreviated - 11.6

Team Ascot Limited - Limited company - abbreviated - 11.6

TEAM ASCOT LIMITED - Company Information

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REGISTERED NUMBER: 04564660 (England and Wales)















Abbreviated Accounts for the Year Ended 31 October 2014

for

Team Ascot Limited

Team Ascot Limited (Registered number: 04564660)






Contents of the Abbreviated Accounts
for the Year Ended 31 October 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Team Ascot Limited

Company Information
for the Year Ended 31 October 2014







DIRECTOR: T P Riley





SECRETARY: Mrs L S Riley





REGISTERED OFFICE: 122 South Road
Waterloo
Liverpool
Merseyside
L22 OND





REGISTERED NUMBER: 04564660 (England and Wales)





ACCOUNTANTS: Cobham Murphy Limited
116 Duke Street
Liverpool
Merseyside
L1 5JW
Page 1
Team Ascot Limited (Registered number: 04564660)

Abbreviated Balance Sheet
31 October 2014

31.10.14 31.10.13
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 63,836 193,710

CURRENT ASSETS
Stocks 1,807 1,753
Debtors 74,464 -
Cash at bank 2,867 2,629
79,138 4,382
CREDITORS
Amounts falling due within one year 30,878 86,721
NET CURRENT ASSETS/(LIABILITIES) 48,260 (82,339 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
112,096
111,371

CAPITAL AND RESERVES
Called up share capital 3 100,002 100,002
Profit and loss account 12,094 11,369
SHAREHOLDERS' FUNDS 112,096 111,371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 30 July 2015 and were signed by:





T P Riley - Director


The notes form part of these abbreviated accounts

Page 2
Team Ascot Limited (Registered number: 04564660)

Notes to the Abbreviated Accounts
for the Year Ended 31 October 2014

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

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

Freehold property - No depreciation charged
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 November 2013 207,596
Additions 725
Disposals (129,746 )
At 31 October 2014 78,575
DEPRECIATION
At 1 November 2013 13,886
Charge for year 853
At 31 October 2014 14,739
NET BOOK VALUE
At 31 October 2014 63,836
At 31 October 2013 193,710

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.14 31.10.13
value: £    £   
100,002 Ordinary £1 100,002 100,002

Page 3 continued...
Team Ascot Limited (Registered number: 04564660)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 October 2014

4. RELATED PARTY DISCLOSURES

T P Riley

The director, T P Riley, operates a current account with the company to which all transactions of a private nature
are charged. At 31 October 2014 there was a balance on this account of £519 which is included in other creditors
(2013 £519).

Ascot Properties UK Limited

A company in which Mr T P Riley is a director.


At the year end, Team Ascot Limited was owed £74,464 from Ascot Properties UK Limited (2013 Team Ascot
Limited owed Ascot Properties UK Limited £54,110).

During the year Team Ascot Limited sold freehold property to Ascot Property UK Limited at a value of
£130,000.

Ascot Leisure Limited

A company in which Mr T P Riley is a director.


At the year end, Team Ascot Limited owed Ascot Leisure Limited £160 (2013 £160).

5. ULTIMATE CONTROLLING PARTY

The controlling party is T P Riley.


Page 4