Baskerville Racing Ltd - Limited company - abbreviated - 11.9
Baskerville Racing Ltd - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 31 July 2015 |
| for |
| Baskerville Racing Ltd |
| Baskerville Racing Ltd (Registered number: 07713050) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 July 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Baskerville Racing Ltd |
| Company Information |
| for the Year Ended 31 July 2015 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Baskerville Racing Ltd (Registered number: 07713050) |
| Abbreviated Balance Sheet |
| 31 July 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| Baskerville Racing Ltd (Registered number: 07713050) |
| Abbreviated Balance Sheet - continued |
| 31 July 2015 |
| The financial statements were approved by the director on |
| Baskerville Racing Ltd (Registered number: 07713050) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 July 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on the going concern basis as the director has undertaken |
| not to call for repayment of the director's loan or the associated company loan until the company's |
| resources and profitability permit. |
| 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 |
| Plant and machinery etc | - |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
| 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 August 2014 |
| and 31 July 2015 |
| DEPRECIATION |
| At 1 August 2014 |
| Charge for year |
| At 31 July 2015 |
| NET BOOK VALUE |
| At 31 July 2015 |
| At 31 July 2014 |
| Baskerville Racing Ltd (Registered number: 07713050) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 July 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| ordinary | £1 |
| 4. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| In the year N C Baskerville , the shareholder and director, incurred costs and expenses on behalf of |
| the company. At 31 July 2015 the company owed N C Baskerville £160,719 which is shown as other |
| creditors in the balance sheet. N C Baskerville has undertaken not to call for repayment of the debt |
| until sales are made and the company's finances improve. |
| 5. | RELATED PARTY DISCLOSURES |
| Baskerville Offshore Limited |
| A company in which N Baskerville is the sole director and shareholder. |
| During the year Baskerville Offshore Limited incurred costs and expenses on behalf of Baskerville |
| Racing Limited totalling £4,231. These expenses have been recharged to Baskerville Racing Limited |
| and at 31 July 2015 Baskerville Racing Limited owed £241,544 to Baskerville Offshore Limited. |
| Baskerville Offshore Limited has agreed not to call for repayment of the debt until the company's |
| financial position improves. |
| 2015 | 2014 |
| £ | £ |
| Amount due from related party at the balance sheet date |
| 6. | ULTIMATE CONTROLLING PARTY |
| The controlling party is |