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Financial Statements for the Year Ended 31 January 2018 |
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Ascot Developments Group Limited |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 January 2018 |
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for |
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Ascot Developments Group Limited |
Ascot Developments Group Limited (Registered number: 06649522) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Ascot Developments Group Limited |
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Company Information |
for the Year Ended 31 January 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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116 Duke Street |
Liverpool |
Merseyside |
L1 5JW |
Ascot Developments Group Limited (Registered number: 06649522) |
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Balance Sheet |
31 January 2018 |
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31.1.18 | 31.1.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 8 |
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SHAREHOLDERS' FUNDS |
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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 profit or loss 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. |
Ascot Developments Group Limited (Registered number: 06649522) |
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Balance Sheet - continued |
31 January 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Ascot Developments Group Limited (Registered number: 06649522) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2018 |
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1. | STATUTORY INFORMATION |
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Ascot Developments Group Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The company's parent undertaking is Ascot Waterloo Limited. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts |
recognised in the financial statements. |
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Turnover |
Turnover represents the fair value of the consideration of net property sales and rents received. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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Financial instruments |
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are |
measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
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Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective |
evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit |
and loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Ascot Developments Group Limited (Registered number: 06649522) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - 2 ). |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 February 2017 |
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Additions |
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Disposals | ( |
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Revaluations | 122,908 |
At 31 January 2018 |
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NET BOOK VALUE |
At 31 January 2018 |
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At 31 January 2017 |
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Fair value at 31 January 2018 is represented by: |
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Valuation in 2018 | 122,908 |
Cost | 186,541 |
309,449 |
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Investment property was revalued by the director during the year. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.18 | 31.1.17 |
£ | £ |
Trade debtors |
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Amounts owed by participating interests | 166,703 | 166,323 |
Other debtors |
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Ascot Developments Group Limited (Registered number: 06649522) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2018 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.18 | 31.1.17 |
£ | £ |
Trade creditors |
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Amounts owed to participating interests | 348,453 | 570,468 |
Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.1.18 | 31.1.17 |
£ | £ |
Other creditors |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1 February 2017 |
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Profit for the year |
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Dividends | ( |
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At 31 January 2018 |
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Profit and loss account includes all current and prior period retained profit and losses. £99,555 of the profit and |
loss account at 30th April 2018 is non-distributable. The non-distributable element of the profit and loss account |
relates to investment property revaluation gains, net of related deferred taxation. |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The director, T P Riley, operates a current account with the company, to which all transactions of a private |
nature are charged. As at 31st January 2018 an amount of £50,306 (2017 £70,306) is included in other creditors. |
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10. | RELATED PARTY DISCLOSURES |
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T P Riley is also a director of Sharl Limited and EMR Columbus Quay Limited. |
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Included in other debtors as at 31st January 2018 is £1,141 (2017 £1,141) owing from Sharl Limited and |
£114,394 (2017 £114,394) owing from EMR Columbus Quay Limited. |
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L S Riley who is married to the director, T P Riley is a director of Ascot Towers Southport Limited. Included in |
other debtors as at 31st January 2018 is £51,168 (2017 £50,789) owing from Ascot Towers Southport Limited. |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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