Crossfields Bloodstock Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06207595 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2016

FOR

CROSSFIELDS BLOODSTOCK LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

T. Bullock

M G Bullock

SECRETARY:

T. Bullock

REGISTERED OFFICE:

85/87 High Street West

Glossop

Derbyshire

SK13 8AZ

REGISTERED NUMBER:

06207595 (England and Wales)

ACCOUNTANTS:

Crossfields

Chartered Accountants

85/87 High Street West

Glossop

Derbyshire

SK13 8AZ

CURRENT ASSETS

Stocks

858,342

752,360

Debtors

2,978

-

Cash at bank

16,481

87,284

877,801

839,644

CREDITORS

Amounts falling due within one year

1,701,868

1,369,917

NET CURRENT LIABILITIES

(824,067

)

(530,273

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(824,067

)

(530,273

)

CAPITAL AND RESERVES

Called up share capital

2

Profit and loss account

(824,069

)

(530,275

)

SHAREHOLDERS' FUNDS

(824,067

)

(530,273

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 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 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 Board of Directors on 11 October 2016 and were signed on its behalf by:

M G Bullock - 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 January 2015).

Turnover

Turnover represents the sale of thoroughbred horses, excluding value added tax.

Stocks

Stocks are valued at the lower of cost and net realisable value.

Deferred tax

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

sheet date.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

3.	RELATED PARTY DISCLOSURES

Ultimate control of the company lies with the directors.

As at 31 January 2016, £1,364,489 (2015: £1,117,965) was owed by the company to Crossfields Limited, a

company controlled by the same directors, representing transfers between the two companies. This amount is

included in other creditors in note 5 to the accounts.

As at 31 January 2016, £293,856 (2015: £226,278) was owed by the company to the directors, representing

monies introduced by the directors personally. This amount is included in other creditors in note 5 to the

accounts.

Apart from those noted above, there were no material transactions with related parties during the financial year.