Driffield Steam Rally Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08698735 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

DRIFFIELD STEAM RALLY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

H Bell

P Stocker

I Holt

REGISTERED OFFICE:

33-35 Exchange Street

Driffield

East Yorkshire

YO25 6LL

REGISTERED NUMBER:

08698735 (England and Wales)

ACCOUNTANTS:

Jackson Robson Licence Limited

33-35 Exchange Street

Driffield

East Yorkshire

YO25 6LL

FIXED ASSETS

Tangible assets

3

187

301

CURRENT ASSETS

Cash at bank

555

12,837

CREDITORS

Amounts falling due within one year

4

2,577

5,561

NET CURRENT (LIABILITIES)/ASSETS

(2,022

)

7,276

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,835

)

7,577

RESERVES

Income and expenditure account

(1,835

)

7,577

(1,835

)

7,577

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 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.

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 24 May 2019 and were signed on its behalf by:

P Stocker - Director

1.	STATUTORY INFORMATION

Driffield Steam Rally Limited is a private company, limited by guarantee , 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.

Turnover

Turnover represents gate receipts and rental income from exhibitors.

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

-

15% on cost

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 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.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 November 2017

and 31 October 2018

757

DEPRECIATION

At 1 November 2017

456

Charge for year

114

At 31 October 2018

570

NET BOOK VALUE

At 31 October 2018

187

At 31 October 2017

301

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

as restated

£

£

Taxation and social security

1,534

4,696

Other creditors

1,043

865

2,577

5,561

5.	RELATED PARTY DISCLOSURES

The company has entered into numerous transactions during the year with East Riding Engine Club, which is a

related party as both entities are under common control. At 31 October 2018 the company owed East Riding Engine

Club £183.

6.	ULTIMATE CONTROLLING PARTY

The company is limited by guarantee and there is no ultimate controlling party.