Ascot Commerce Limited - Period Ending 2016-09-30

Registration number: 04823373

Ascot Commerce Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Accountax Ltd
Accountants and Tax Advisors
Maple House
Larch Avenue
Sunninghill
Berkshire
SL5 0AW

Ascot Commerce Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Ascot Commerce Limited
(Registration number: 04823373)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1,453			927
Current assets
Debtors					12,539			14,691
Cash at bank and in hand					24,299			19,921
					36,838			34,612
Creditors: Amounts falling due within one year					(33,488)			(72,238)
Net current assets/(liabilities)					3,350			(37,626)
Total assets less current liabilities					4,803			(36,699)
Creditors: Amounts falling due after more than one year					(3,528)			(6,928)
Net assets/(liabilities)					1,275			(43,627)
Capital and reserves
Called up share capital		3			3,260			3,260
Profit and loss account					(1,985)			(46,887)
Shareholders' funds/(deficit)					1,275			(43,627)

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 10 January 2017

.........................................
Mr Clive Andrew Marsden
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Ascot Commerce Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office Equipment	25% reducing balance method
Plant & machinery	25% reducing balance method
FF & Equipment	25% reducing balance method

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Ascot Commerce Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		6,913			6,913
Additions		1,010			1,010
At 30 September 2016		7,923			7,923
Depreciation
At 1 October 2015		5,986			5,986
Charge for the year		484			484
At 30 September 2016		6,470			6,470
Net book value
At 30 September 2016		1,453			1,453
At 30 September 2015		927			927

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
10,000 A Ordinary Shares of £0.01 each		10,000			100			10,000			100
158,000 Class B Shares of £1 each		158,000			158,000			158,000			158,000
		168,000			158,100			168,000			158,100

4	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr Clive Andrew Marsden
Included within other creditors is an amount due to the director C A Marsden	12,679	-	53,465	-

Page 3

Ascot Commerce Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Included within other creditors is an amount due to Mrs J Marsden the wife of the director C A Marsden	4,414	-	4,414	-
	17,093	-	57,879	-

Page 4