Goodwood Racehorse Owners Group (22) Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 09272913 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 21 OCTOBER 2014 TO 30 NOVEMBER 2015

FOR

GOODWOOD RACEHORSE OWNERS GROUP (TWENTY

TWO) LIMITED

(A COMPANY LIMITED BY GUARANTEE)

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R J Wright

R N Fabricius

H G Brown

REGISTERED OFFICE:

Goodwood House

Goodwood

Chichester

West Sussex

PO18 0PX

REGISTERED NUMBER:

09272913 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

44 Springfield Road

Horsham

West Sussex

RH12 2PD

CURRENT ASSETS

Stocks

42,000

Debtors

19,774

Cash at bank

153,840

215,614

CREDITORS

Amounts falling due within one year

215,614

TOTAL ASSETS LESS CURRENT LIABILITIES

-

RESERVES

-

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2015 in accordance with Section 476 of the Companies Act 2006.

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 surplus or deficit 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 Board of Directors on 18 July 2016 and were signed on its behalf by:

H G Brown - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The objective of the company is to provide the enjoyment of part ownership of a racehorse to its members. It is

envisaged that the company will carry out its activity for two years and then will be wound up. The financial

statements are prepared on a going concern basis as in the opinion of the directors there is no material difference

between the financial statements drawn up on the going concern basis and on a cessation basis.

Accounting convention

The financial statements have been prepared under the historical cost convention.

Financial reporting standard number 1

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

small company.

Turnover

Turnover comprises prize monies received from the running of the company's horse, income from member's

social events, sponsorship monies and any sundry income from operations excluding value added tax.

Stocks

Stock represents the cost of the racehorse "Goodwood Zodiac".

Member's contributions

The member's contributions are received in advance for the purchase of the racehorse and to cover the related

expenses as they are incurred. The contributions are released into the profit and loss account to cover the

expenses in the year. Once the horse has been sold, any remaining monies in the contributions fund are refunded

back to the members.

2.	MEMBERS ACTIVITIES

Each member contributed £990 towards the acquisition of the horse, Goodwood Zodiac (cost £42,000) and the

running costs for the two seasons. The running costs for the 2015 season were £54,680, net of income.