ASCOT_LTD - Accounts

ASCOT LTD - Company Information

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Company Registration No. 04748264 (England and Wales)

ASCOT LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

ASCOT LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ASCOT LTD

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

61,868

57,805

Current assets

Stocks

94,567

149,346

Debtors

1,099,126

897,647

Cash at bank and in hand

793,295

388,007

1,986,988

1,435,000

Creditors: amounts falling due within one year

(1,529,668)

(1,256,594)

Net current assets

457,320

178,406

Total assets less current liabilities

519,188

236,211

Creditors: amounts falling due after more than one year

(17,684)

(22,101)

501,504

214,110

Capital and reserves

Called up share capital

21,686

Profit and loss account

479,818

192,424

Shareholders' funds

501,504

214,110

For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 January 2017

Mr Harpal Sira

Director

Company Registration No. 04748264

ASCOT LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% on reducing balance

Computer equipment

25% on reducing balance

Fixtures, fittings & equipment

25% on reducing balance

Motor vehicles

25% on reducing balance

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 May 2015

30,000

196,565

226,565

Additions

24,685

At 30 April 2016

30,000

221,250

251,250

Depreciation

At 1 May 2015

30,000

138,760

168,760

Charge for the year

20,622

At 30 April 2016

30,000

159,382

189,382

Net book value

At 30 April 2016

61,868

At 30 April 2015

57,805

ASCOT LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

21,686 Ordinary of £1 each

21,686