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REGISTERED NUMBER: 03702432 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Ascot Event Hire Ltd

Ascot Event Hire Ltd (Registered number: 03702432)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ascot Event Hire Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: D J M Owen
G N Thomas





REGISTERED OFFICE: Green Lane
Heythrop
Chipping Norton
Oxfordshire
OX7 5TU





REGISTERED NUMBER: 03702432 (England and Wales)





ACCOUNTANTS: Handleys Chartered Accountants
10 Manor Park
Banbury
Oxfordshire
OX16 3TB

Ascot Event Hire Ltd (Registered number: 03702432)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,475,565 990,385

CURRENT ASSETS
Debtors 5 753,158 502,890
Cash at bank 13,396 9,936
766,554 512,826
CREDITORS
Amounts falling due within one year 6 370,657 217,839
NET CURRENT ASSETS 395,897 294,987
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,871,462

1,285,372

CREDITORS
Amounts falling due after more than
one year

7

(39,139

)

(11,596

)

PROVISIONS FOR LIABILITIES (249,844 ) (150,962 )
NET ASSETS 1,582,479 1,122,814

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 1,582,379 1,122,714
SHAREHOLDERS' FUNDS 1,582,479 1,122,814

Ascot Event Hire Ltd (Registered number: 03702432)

Balance Sheet - continued
31 January 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2023 and were signed on its behalf by:





D J M Owen - Director


Ascot Event Hire Ltd (Registered number: 03702432)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Ascot Event Hire Ltd is a private company, limited by shares , registered in England and Wales. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of value added tax and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. For sales of goods, the turnover is shown net of distribution and carriage charges.

Revenue from sale of goods is recognised when significant risks and rewards of ownership have been transferred to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from sale of services is recognised when the stage of completion of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Office Equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 have been enacted or substantively enacted by the balance sheet date.


Ascot Event Hire Ltd (Registered number: 03702432)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

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.

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 NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery Equipment vehicles Totals
£    £    £    £   
COST
At 1 February 2022 4,065,742 19,880 243,200 4,328,822
Additions 803,703 - 173,664 977,367
At 31 January 2023 4,869,445 19,880 416,864 5,306,189
DEPRECIATION
At 1 February 2022 3,133,784 17,124 187,529 3,338,437
Charge for year 434,164 689 57,334 492,187
At 31 January 2023 3,567,948 17,813 244,863 3,830,624
NET BOOK VALUE
At 31 January 2023 1,301,497 2,067 172,001 1,475,565
At 31 January 2022 931,958 2,756 55,671 990,385

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 150,000 150,000
Other debtors 603,158 352,890
753,158 502,890

Ascot Event Hire Ltd (Registered number: 03702432)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Hire purchase contracts 21,438 22,592
Trade creditors 59,178 115,923
Taxation and social security - 19,723
Other creditors 290,041 59,601
370,657 217,839

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.23 31.1.22
£    £   
Hire purchase contracts 39,139 11,596

8. RESERVES
Retained
earnings
£   

At 1 February 2022 1,122,714
Profit for the year 459,665
At 31 January 2023 1,582,379