Paddy Campbell Racing Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03851760

PADDY CAMPBELL RACING LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M M Campbell

SECRETARY:

P F C Sabine

REGISTERED OFFICE:

Gladstone House

77-79 High Street

Egham

Surrey

TW20 9HY

REGISTERED NUMBER:

03851760

FIXED ASSETS

Intangible assets

2

318,137

301,052

Tangible assets

3

5,282

4,352

323,419

305,404

CURRENT ASSETS

Cash at bank and in hand

43,144

23,225

CREDITORS

Amounts falling due within one year

(132,288

)

(151,312

)

NET CURRENT LIABILITIES

(89,144

)

(128,087

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

234,275

177,317

CREDITORS

Amounts falling due after more than one
year

4

(226,628

)

(198,530

)

PROVISIONS FOR LIABILITIES

(707

)

(350

)

NET ASSETS/(LIABILITIES)

6,940

(21,563

)

CAPITAL AND RESERVES

Called up share capital

5

2

Profit and loss account

6,938

(21,565

)

SHAREHOLDERS' FUNDS

6,940

(21,563

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 12 December 2016 and were signed by:

M M Campbell - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis which is dependent on the continued

support of the director. The director has indicated his intention to provide financial support for a period of not

less than 12 months from the date of signing the accounts. On this basis, the director considers it

appropriate to prepare the financial statements on a going concern basis. The financial statements do not

include any adjustments that would result from a withdrawal of such financial support.

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).

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 is the total amount received by the company for on course bets less the total winnings paid out.

In the opinion of the director, treating net takings as turnover will enable the users of these financial

statements to gain a better understanding of the actual income of the company.

Intangible fixed assets

The racecourse pitches are valued at cost and amortised on a straight-line basis over their useful economic

life of 15 years. The useful economic life is then reviewed regularly.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Deferred tax

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

balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

509,827

Additions

80,500

Disposals

(42,000

)

At 31 March 2016

548,327

AMORTISATION

At 1 April 2015

208,775

Amortisation for year

36,936

Eliminated on disposal

(15,521

)

At 31 March 2016

230,190

NET BOOK VALUE

At 31 March 2016

318,137

At 31 March 2015

301,052

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

30,060

Additions

2,695

At 31 March 2016

32,755

DEPRECIATION

At 1 April 2015

25,708

Charge for year

1,765

At 31 March 2016

27,473

NET BOOK VALUE

At 31 March 2016

5,282

At 31 March 2015

4,352

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

2016

2015

£

Repayable by instalments

195,595

163,300

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2