COMPANY REGISTRATION NUMBER:
06555447
Spot Acre Equestrian Limited
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Filleted Unaudited Abridged Financial Statements
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Spot Acre Equestrian Limited
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Abridged Statement of Financial Position
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31 March 2019
Fixed assets
Intangible assets
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5
|
|
3,000
|
4,000
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Tangible assets
|
6
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45,483
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43,164
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--------
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--------
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48,483
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47,164
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Current assets
Debtors
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13,375
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13,375
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Cash at bank and in hand
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11,151
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3,632
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--------
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--------
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24,526
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17,007
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Creditors: amounts falling due within one year
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1,650
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500
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--------
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--------
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Net current assets
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22,876
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16,507
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--------
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--------
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Total assets less current liabilities
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71,359
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63,671
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Creditors: amounts falling due after more than one year
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65,615
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60,313
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--------
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--------
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Net assets
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5,744
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3,358
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--------
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--------
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Capital and reserves
Called up share capital
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100
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100
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Profit and loss account
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5,644
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3,258
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-------
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-------
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Shareholders funds
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5,744
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3,358
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-------
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-------
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2019 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 abridged 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.
Spot Acre Equestrian Limited
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Abridged Statement of Financial Position (continued)
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31 March 2019
These abridged financial statements were approved by the
board of directors
and authorised for issue on
23 December 2019
, and are signed on behalf of the board by:
Company registration number:
06555447
Spot Acre Equestrian Limited
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Notes to the Abridged Financial Statements
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Year ended 31 March 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Lichfield Street, Stone, Staffordshire ST15 8NA. The company runs its business from Spot Acre Equestrian, Spot Acre, Stone, Staffordshire ST15 8RN.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
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Goodwill
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-
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25% straight line
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fixtures and fittings
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-
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15% reducing balance
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Equipment
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-
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15% reducing balance
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2018:
2
).
5.
Intangible assets
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£
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Cost
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At 1 April 2018 and 31 March 2019
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10,000
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--------
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Amortisation
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At 1 April 2018
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6,000
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Charge for the year
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1,000
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--------
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At 31 March 2019
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7,000
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--------
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Carrying amount
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At 31 March 2019
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3,000
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--------
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At 31 March 2018
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4,000
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--------
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6.
Tangible assets
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£
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Cost
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At 1 April 2018
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44,774
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Additions
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10,345
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--------
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At 31 March 2019
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55,119
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--------
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Depreciation
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At 1 April 2018
|
1,610
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Charge for the year
|
8,026
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--------
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At 31 March 2019
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9,636
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--------
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Carrying amount
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At 31 March 2019
|
45,483
|
|
--------
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At 31 March 2018
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43,164
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--------
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7.
Related party transactions
During the year, the company was under the ultimate control of the directors by virtue of their ability to act in concert in the respect of the operating and financial policies of the company. The company is associated with other companies through the common directorship and control of Mrs JT Plant. The company has used the exemption granted under FRS 102 section 33.1A, being that related party disclosures do not need to be given of transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.
8.
Controlling party
The company is wholly owned by
Plant Group Investments Limited
, a company incorporated in England and Wales and whose financial statements are available at www.companieshouse.gov.uk.