Camden Stables Holdings Ltd Company accounts

Camden Stables Holdings Ltd Company accounts

CAMDEN STABLES HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08278742
Camden Stables Holdings Ltd
Unaudited Financial Statements
30 September 2016
Camden Stables Holdings Ltd
Financial Statements
Year ended 30 September 2016
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
The following pages do not form part of the financial statements
Detailed income statement
8
Notes to the detailed income statement
9
Camden Stables Holdings Ltd
Director's Report
Year ended 30 September 2016
The director presents his report and the unaudited financial statements of the company for the year ended 30 September 2016 .
Director
The director who served the company during the year was as follows:
Mr Payne
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 15 June 2017 and signed on behalf of the board by:
Mr Payne
Director
Registered office:
Jubilee House
Townsend Lane
London
UK
NW9 8TZ
Camden Stables Holdings Ltd
Statement of Income and Retained Earnings
Year ended 30 September 2016
Period from
Year to
1 Dec 14 to
30 Sep 16
30 Sep 15
Note
£
£
Turnover
4
6,272
7,458
-------
-------
Gross profit
6,272
7,458
Administrative expenses
3,442
1,001
Gain on impairment or disposal of operations
( 90,000)
–
--------
-------
Operating profit
92,830
6,457
Income from shares in group undertakings
5
–
131,000
--------
---------
Profit on ordinary activities before taxation
92,830
137,457
Tax on profit on ordinary activities
6
18,422
1,292
--------
---------
Profit for the financial year and total comprehensive income
74,408
136,165
--------
---------
Dividends paid and payable
7
( 100,000)
( 131,000)
Retained earnings at the start of the year
8,707
3,542
---------
---------
Retained (losses)/earnings at the end of the year
( 16,885)
8,707
---------
---------
All the activities of the company are from continuing operations.
Camden Stables Holdings Ltd
Statement of Financial Position
30 September 2016
2016
2015
Note
£
£
£
Current assets
Investments
8
–
10,000
Cash at bank and in hand
1,538
–
-------
--------
1,538
10,000
Creditors: amounts falling due within one year
9
18,422
1,292
--------
--------
Net current (liabilities)/assets
( 16,884)
8,708
--------
-------
Total assets less current liabilities
( 16,884)
8,708
--------
-------
Capital and reserves
Called up share capital
10
1
1
Profit and loss account
( 16,885)
8,707
--------
-------
Members (deficit)/funds
( 16,884)
8,708
--------
-------
For the year ending 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of directors and authorised for issue on 15 June 2017 , and are signed on behalf of the board by:
Mr Payne
Director
Company registration number: 08278742
Camden Stables Holdings Ltd
Notes to the Financial Statements
Year ended 30 September 2016
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Jubilee House, Townsend Lane, London, NW9 8TZ, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 December 2014. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 12.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Income from shares in group undertakings
Period from
Year to
1 Dec 14 to
30 Sep 16
30 Sep 15
£
£
Income from group undertakings
–
131,000
----
---------
6. Tax on profit on ordinary activities
Major components of tax expense
Period from
Year to
1 Dec 14 to
30 Sep 16
30 Sep 15
£
£
Current tax:
UK current tax expense
18,422
1,292
--------
-------
Tax on profit on ordinary activities
18,422
1,292
--------
-------
7. Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
2016
2015
£
£
Dividends on equity shares relating to line 1 in the shares issued page of cdb
100,000
131,000
---------
---------
8. Investments
2016
2015
£
£
Other investments
–
10,000
----
--------
9. Creditors: amounts falling due within one year
2016
2015
£
£
Corporation tax
18,422
1,292
--------
-------
10. Called up share capital
Issued, called up and fully paid
2016
2015
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
11. Related party transactions
The company was under the control of Mr Roger Payne during the financial year September 2016. Mr Payne is also director for Long Stables Limited & London Stables Holdings Ltd. Company has charged management fees of £3,100 to Long Stables Ltd & £3,000 to London Stables Holdings Ltd during the financial year September 2016. Camden Stables Holdings Limited is Related party to Long Stables Limited & London Stables Holdings Ltd by virtue of common directorship.
12. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 December 2014.
No transitional adjustments were required in equity or profit or loss for the period.
Camden Stables Holdings Ltd
Management Information
Year ended 30 September 2016
The following pages do not form part of the financial statements.
Camden Stables Holdings Ltd
Detailed Income Statement
Year ended 30 September 2016
Period from
Year to
1 Dec 14 to
30 Sep 16
30 Sep 15
£
£
Turnover
6,272
7,458
-------
-------
Gross profit
6,272
7,458
Overheads
Administrative expenses
3,442
1,001
Gain on impairment or disposal of operations
(90,000)
–
--------
-------
Operating profit
92,830
6,457
Income from shares in group undertakings
–
131,000
--------
---------
Profit on ordinary activities before taxation
92,830
137,457
--------
---------
Camden Stables Holdings Ltd
Notes to the Detailed Income Statement
Year ended 30 September 2016
Period from
Year to
1 Dec 14 to
30 Sep 16
30 Sep 15
£
£
Administrative expenses
Other establishment expenses
4
1
Accountancy fees
3,372
1,000
Bank charges
66
–
-------
-------
3,442
1,001
-------
-------
Income from shares in group undertakings
Income from group undertakings
–
131,000
----
---------