The Highland Pony Society - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: SC154683 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

THE HIGHLAND PONY SOCIETY

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DIRECTORS:

G M Baird

Mrs M A Comrie-Bryant

Mrs J B W Connell

J Dykes

Mrs G M McMurray

C McQuattie

Mrs M Osborne

Mrs J M Ralston

Mrs S P Wardrop

Mrs HSD Brooks

Mrs VJ Fletcher

Mrs C Lackie

Miss AJ Payne

WJ Ralston

Miss J A Allan

Mrs C Bassett

Mrs R B Chalmers

H M Duncan

Mrs S Ormiston

SECRETARY:

Mrs S M Robertson

REGISTERED OFFICE:

Grosvenor House

Shore Road

Perth

PH2 8BD

REGISTERED NUMBER:

SC154683 (Scotland)

ACCOUNTANTS:

Curle & Co

Chartered Accountants

22 Backbrae Street

Kilsyth

G65 0NH

BANKERS:

The Royal Bank of Scotland

Perth Chief Office

12 Dunkeld Road

Perth

PH1 5RB

FIXED ASSETS

Tangible assets

4

587

698

Investments

5

73

85

660

783

CURRENT ASSETS

Stocks

8,057

7,808

Debtors

3,767

1,956

Cash at bank and in hand

284,255

280,203

296,079

289,967

CREDITORS

Amounts falling due within one year

4,589

5,932

NET CURRENT ASSETS

291,490

284,035

TOTAL ASSETS LESS CURRENT LIABILITIES

292,150

284,818

RESERVES

Revaluation reserve

6

(1,765

)

(1,752

)

Other reserves

20,000

20,000

Income and expenditure account

273,915

266,570

292,150

284,818

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 surplus or deficit 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18 July 2017 and were signed on its behalf by:

Mrs G M McMurray - Director

1.	STATUTORY INFORMATION

The Highland Pony Society is a private company, limited by guarantee , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover and revenue recognition

Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when

goods and services are provided to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

and 31 December 2016

11,557

DEPRECIATION

At 1 January 2016

10,859

Charge for year

111

At 31 December 2016

10,970

NET BOOK VALUE

At 31 December 2016

587

At 31 December 2015

698

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 January 2016

85

Revaluations

(12

)

At 31 December 2016

73

NET BOOK VALUE

At 31 December 2016

73

At 31 December 2015

85

Listed

Investment

£

Market Value at January 2016

85

Change in value in the year

(12

)

----------------

Market value at 31 December 2016

73

6.

RESERVES

Revaluation

reserve

£

At 1 January 2016

(1,752

)

Investment Loss

(13

)

At 31 December 2016

(1,765

)

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of The Highland Pony Society for the year ended 31 December 2016 which comprise the Income

Statement, Abridged Balance Sheet, and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of The Highland Pony Society, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Highland Pony Society and state those matters that we have agreed to state to the Board of Directors of The Highland Pony Society, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Highland Pony Society has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Highland Pony Society. You consider that The Highland Pony Society is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Highland Pony Society. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Curle & Co

Chartered Accountants

22 Backbrae Street

Kilsyth

G65 0NH

Date: .............................................