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Registered Number: 08682375


 

 

 

ASCOT BRISTOL COMPANY LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 598    264 
598    264 
Current assets      
Stocks 2,727,712    2,170,223 
Debtors: amounts falling due within one year 7,302    6,826 
Cash at bank and in hand 8,125    220,540 
2,743,139    2,397,589 
Creditors: amount falling due within one year (1,066,768)   (888,270)
Net current assets 1,676,371    1,509,319 
 
Total assets less current liabilities 1,676,969    1,509,583 
Creditors: amount falling due after more than one year (389,228)   (183,353)
Net assets 1,287,741    1,326,230 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 1,287,731    1,326,220 
Shareholder's funds 1,287,741    1,326,230 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 05 March 2024 and were signed by:


-------------------------------
Anwar Saeed
Director
1
General Information
ASCOT BRISTOL COMPANY LIMITED is a private company, limited by shares, registered in , registration number 08682375, registration address 10 CAVIE CLOSE, NINE ELMS, SWINDON, SN5 5XD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Cost of sales
In the previous years accounts any acquisition of freehold / leasehold interest and improvement costs have been capitalized as an addition to land and buildings. However due to the fact that the company is involved in buying the land and building, improve them with an intention to sale to the market.  

The directors have therefore decided to transfer the land and building  from fixed assets category to the Stock /Purchase.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20 Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.

Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.

Average number of employees

Average number of employees during the year was 1 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 April 2022 1,007    1,007 
Additions 483    483 
Disposals  
At 31 March 2023 1,490    1,490 
Depreciation
At 01 April 2022 743    743 
Charge for year 149    149 
On disposals  
At 31 March 2023 892    892 
Net book values
Closing balance as at 31 March 2023 598    598 
Opening balance as at 01 April 2022 264    264 


2