RB Equestrian Ltd - Accounts to registrar - small 16.1.1

REGISTERED NUMBER: 04716728 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

RB EQUESTRIAN LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr EN Boggis

Mrs R Boggis

Mrs K Jaquet

SECRETARY:

Mr EN Boggis

REGISTERED OFFICE:

Lower Rectory Farm

Great Brickhill

Milton Keynes

MK17 9AF

REGISTERED NUMBER:

04716728 (England and Wales)

ACCOUNTANTS:

Jonathan Vowles Chartered Accountants

114 High Street

Cranfield

Bedford

MK43 0DG

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

34,079

35,310

34,079

35,310

CURRENT ASSETS

Stocks

426,266

449,927

Debtors

4

18,161

6,247

Cash at bank and in hand

131,243

88,497

575,670

544,671

CREDITORS

Amounts falling due within one year

5

370,151

385,150

NET CURRENT ASSETS

205,519

159,521

TOTAL ASSETS LESS CURRENT LIABILITIES

239,598

194,831

PROVISIONS FOR LIABILITIES

6

6,090

6,176

NET ASSETS

233,508

188,655

CAPITAL AND RESERVES

Called up share capital

7

93

93

Retained earnings

8

233,415

188,562

SHAREHOLDERS' FUNDS

233,508

188,655

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 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 December 2016 and were signed on its behalf by:

Mr EN Boggis - Director

Mrs R Boggis - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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 and 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 timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the

balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where

material, provisions are calculated on a discounted basis.

2.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2015

and 31 March 2016

60,000

AMORTISATION

At 1 April 2015

and 31 March 2016

60,000

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

3.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

equipment

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2015

38,538

30,916

43,915

32,239

145,608

Additions

-

11,000

1,441

292

12,733

At 31 March 2016

38,538

41,916

45,356

32,531

158,341

DEPRECIATION

At 1 April 2015

21,008

27,700

33,189

28,401

110,298

Charge for year

5,853

3,572

3,311

1,228

13,964

At 31 March 2016

26,861

31,272

36,500

29,629

124,262

NET BOOK VALUE

At 31 March 2016

11,677

10,644

8,856

2,902

34,079

At 31 March 2015

17,530

3,216

10,726

3,838

35,310

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

-

2,522

Provision for bad debts

(2,914

)

-

Other debtors

15,945

3,725

Deposit

5,130

-

18,161

6,247

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

125,593

160,725

Tax

27,987

20,094

Social security and other taxes

2,543

1,411

VAT

30,106

18,057

Other creditors

5,734

4,619

Wages control account

2,960

-

Directors' current accounts

173,978

177,022

Accrued expenses

1,250

3,222

370,151

385,150

6.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax FA allowances

6,090

6,176

Deferred

tax

£

Balance at 1 April 2015

6,176

Accelerated capital allowances

(86

)

Balance at 31 March 2016

6,090

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

90

Ordinary

£1

90

90

1

"A" Ordinary

£1

1

1

1

"B" Ordinary

£1

1

1

1

"C" Ordinary

£1

1

1

93

93

8.

RESERVES

Retained

earnings

£

At 1 April 2015

188,562

Profit for the year

111,603

Dividends

(66,750

)

At 31 March 2016

233,415

9.	ULTIMATE CONTROLLING PARTY

The directors control the company through their shareholding.