| National Polo Academy Limited (previously Norfolk Polo Club Limited) |
| Registered number: |
06660875 |
| Directors' Report |
|
| The directors present their report and accounts for the year ended 31 December 2016. |
|
| Principal activities |
| The company is dormant and has not traded during the year or subsequent to year end. During the year the company transferred all of its prior year losses to its parent company. |
| The company changed its name to National Polo Academy Limited on 14 February 2017 |
|
| Directors |
| The following persons served as directors during the year: |
|
|
C J W Townsend |
|
R D Townsend |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 24 February 2017 and signed by its order. |
|
|
|
|
|
| J K Stroud |
| Secretary |
|
| National Polo Academy Limited (previously Norfolk Polo Club Limited) |
| Balance Sheet |
| as at 31 December 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Current assets |
| Debtors |
2 |
|
1,000 |
|
|
- |
| Cash at bank and in hand |
|
|
- |
|
|
88 |
|
|
|
1,000 |
|
|
88 |
|
| Creditors: amounts falling due within one year |
3 |
|
- |
|
|
(114,441) |
|
| Net current assets/(liabilities) |
|
|
|
1,000 |
|
|
(114,353) |
|
| Net assets/(liabilities) |
|
|
|
1,000 |
|
|
(114,353) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
1,000 |
|
|
1,000 |
| Profit and loss account |
5 |
|
|
- |
|
|
(115,353) |
|
| Shareholder's funds |
|
|
|
1,000 |
|
|
(114,353) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
|
| C J W Townsend |
| Director |
| Approved by the board on 24 February 2017 |
|
| National Polo Academy Limited (previously Norfolk Polo Club Limited) |
| Notes to the Accounts |
| for the year ended 31 December 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
20% straight line |
|
Motor vehicles |
25% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Leasing and hire purchase commitments |
|
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
| 2 |
Debtors |
2016 |
|
2015 |
| £ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
1,000 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
| £ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
- |
|
114,441 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
1,000 Ordinary shares |
£1 each |
|
1,000 |
|
1,000 |
|
1,000 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Profit and loss account |
2016 |
| £ |
|
|
At 1 January 2016 |
(115,353) |
|
Transfer to parent company |
115,353 |
|
|
At 31 December 2016 |
- |
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
2016 |
|
2015 |
| £ |
£ |
|
Langley Abbey Estates Limited |
|
Parent company |
|
[Amount due from (to) the related party] |
1,000 |
|
(114,411) |
|
Prior year losses transferred to parent company |
115,353 |
|
- |
|
|
| 7 |
Ultimate controlling party |
|
|
The parent company is Langley Abbey Estates Limited. The ultimate controlling party is Mr C J W Townsend |
