Driffield Steam Rally Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08698735 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

DRIFFIELD STEAM RALLY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

BM Ewbank

H Bell

R Smith

REGISTERED OFFICE:

Ripon House

North Road

Lund

Driffield

East Yorkshire

YO25 9TF

REGISTERED NUMBER:

08698735 (England and Wales)

ACCOUNTANTS:

Jackson Robson Licence Limited

33-35 Exchange Street

Driffield

East Yorkshire

YO25 6LL

FIXED ASSETS

Tangible assets

2

415

529

CURRENT ASSETS

Debtors

-

740

Cash at bank

8,638

-

8,638

740

CREDITORS

Amounts falling due within one year

12,893

5,310

NET CURRENT LIABILITIES

(4,255

)

(4,570

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,840

)

(4,041

)

RESERVES

Income and expenditure account

(3,840

)

(4,041

)

(3,840

)

(4,041

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 12 January 2017 and were signed on its behalf by:

BM Ewbank - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2015).

These financial statements have been prepared on a going concern basis which assumes that the company's bankers, creditors,

and directors will provide continued support. It is the opinion of the directors that this support will be given for the foreseeable

future, being at least twelve months from the signing of the accounts.

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date

where transactions or events that result in an obligation to pay more tax in the future or the right to pay less tax in the future

have occurred at the balance sheet date. A net deferred tax asset is regarded as recoverable and therefore recognised only when,

on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from

which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which timing

differences are expected to reverse.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

757

DEPRECIATION

At 1 November 2015

228

Charge for year

114

At 31 October 2016

342

NET BOOK VALUE

At 31 October 2016

415

At 31 October 2015

529