Badminton Horse Trials Ltd - Accounts to registrar (filleted) - small 18.2
Badminton Horse Trials Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
FOR |
BADMINTON HORSE TRIALS LTD |
BADMINTON HORSE TRIALS LTD (REGISTERED NUMBER: 03270324) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BADMINTON HORSE TRIALS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Dean House |
94 Whiteladies Road |
Clifton |
Bristol |
BS8 2QX |
BADMINTON HORSE TRIALS LTD (REGISTERED NUMBER: 03270324) |
BALANCE SHEET |
30 SEPTEMBER 2021 |
30.9.21 | 30.9.20 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
BADMINTON HORSE TRIALS LTD (REGISTERED NUMBER: 03270324) |
BALANCE SHEET - continued |
30 SEPTEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
BADMINTON HORSE TRIALS LTD (REGISTERED NUMBER: 03270324) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
1. | STATUTORY INFORMATION |
Badminton Horse Trials Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
The directors have considered the effects of the current Covid 19 pandemic on the outlook for the business. Whilst the 2020 and 2021 events were cancelled due to the pandemic, the directors are intending to stage the 2022 event in May 2022 which is planned to be open to the public. |
If the event is cancelled for the third year running due to the Covid restrictions, the company will have sufficient funds to pay its creditors and refund ticket and stand holders, but clearly the company's creditors increase as the date of the event approaches and a late cancellation would be more challenging for the business. |
Turnover |
Turnover represents the fair value of ticket sales, services rendered, and commission/sponsorship income receivable excluding value added tax. |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
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. |
BADMINTON HORSE TRIALS LTD (REGISTERED NUMBER: 03270324) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Short | Plant and | Motor | Computer |
leasehold | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2020 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2021 |
DEPRECIATION |
At 1 October 2020 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2021 |
NET BOOK VALUE |
At 30 September 2021 |
At 30 September 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Bank loans |
BADMINTON HORSE TRIALS LTD (REGISTERED NUMBER: 03270324) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
30.9.21 | 30.9.20 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 53,333 | - |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.21 | 30.9.20 |
£ | £ |
Bank loans |
Bank loans are secured by a debenture over the company's assets. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.21 | 30.9.20 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
10. | OTHER FINANCIAL COMMITMENTS |
The company had financial commitments at the balance sheet date of £30,516 (2020 - £43,709). |
11. | RELATED PARTY DISCLOSURES |
The company entered into transactions during the year with The Badminton Estate and with companies held under common control, but the directors believe that these transactions are concluded under normal market conditions, and accordingly, particulars are not required to be disclosed in accordance with FRS102 Section 1a. |