Hurtwood Park Polo Club Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02966429 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD

1 OCTOBER 2013 TO 31 DECEMBER 2014

FOR

HURTWOOD PARK POLO CLUB LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

K T Jones

REGISTERED OFFICE:

Unit 9b, Wingbury Business Village

Upper Wingbury Farm

Wingrave

Aylesbury

Buckinghamshire

HP22 4LW

REGISTERED NUMBER:

02966429 (England and Wales)

ACCOUNTANTS:

Taylor Roberts

Unit 9b

Upper Wingbury Farm

Wingrave

Aylesbury

Buckinghamshire

HP22 4LW

FIXED ASSETS

Tangible assets

2

5,196

99,269

CURRENT ASSETS

Stocks

2,750

4,200

Debtors

42,298

27,953

Cash in hand

1,467

253

46,515

32,406

CREDITORS

Amounts falling due within one year

158,720

189,002

NET CURRENT LIABILITIES

(112,205

)

(156,596

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(107,009

)

(57,327

)

CREDITORS

Amounts falling due after more than one year

1,040,974

1,095,900

NET LIABILITIES

(1,147,983

)

(1,153,227

)

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

(1,147,985

)

(1,153,229

)

SHAREHOLDERS' FUNDS

(1,147,983

)

(1,153,227

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 28 September 2015 and were signed by:

K T Jones - Director

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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net sales income from the polo club and related equestrian activities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Ground equipment and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% 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 material timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

235,975

Additions

1,440

Disposals

(164,928

)

At 31 December 2014

72,487

DEPRECIATION

At 1 October 2013

136,706

Charge for period

2,152

Eliminated on disposal

(71,567

)

At 31 December 2014

67,291

NET BOOK VALUE

At 31 December 2014

5,196

At 30 September 2013

99,269

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2

4.	ULTIMATE PARENT COMPANY

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within "Other creditors," falling due after more than one year, is an amount owing to the director, K T

Jones, of £1,040,974 (2013 : £1,095,900).

6.	GOING CONCERN

These accounts have been prepared on a going concern basis. The suitability of this basis depends upon the

continued financial support of the director and creditors of the company. The director has pledged his support to

the company. The company entered into a CVA on 7th March 2014.