Border Ice Rink Limited - Accounts to registrar (filleted) - small 17.3
Border Ice Rink Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Border Ice Rink Limited |
| Financial Statements |
| for the Year Ended 31st July 2017 |
| Border Ice Rink Limited (Registered number: SC039323) |
| Contents of the Financial Statements |
| for the year ended 31st July 2017 |
| Page |
| Company information | 1 |
| Balance sheet | 2 | to | 3 |
| Notes to the financial statements | 4 | to | 6 |
| Border Ice Rink Limited |
| Company Information |
| for the year ended 31st July 2017 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Academy House |
| Shedden Park Road |
| Kelso |
| Roxburghshire |
| TD5 7AL |
| Border Ice Rink Limited (Registered number: SC039323) |
| Balance Sheet |
| 31st July 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 3 |
| Current assets |
| Debtors | 4 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 5 |
| Net current assets |
| Total assets less current liabilities |
| Provisions for liabilities | ( |
) | ( |
) |
| Accruals and deferred income | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| Shareholders' funds |
| Border Ice Rink Limited (Registered number: SC039323) |
| Balance Sheet - continued |
| 31st July 2017 |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on on its behalf by: |
| Border Ice Rink Limited (Registered number: SC039323) |
| Notes to the Financial Statements |
| for the year ended 31st July 2017 |
| 1. | Statutory information |
| Border Ice Rink Limited is a |
| 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 |
| Changes in accounting policies |
| The principal accounting policies adopted in the preparation of the financial statements are set out |
| below. |
| The financial statements for the year ended 31st July 2017 are the first financial statements that |
| comply with FRS102 Section 1A for small entities. The date of transition is 1st August 2015. |
| There has been no impact to the financial statements on the transition date. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents |
| amounts receivable for services rendered, stated net of discounts and of Value Added Tax. |
| Tangible fixed assets |
| Land, buildings and improvements:- |
| Land and improvements | - 1% on cost |
| Refurbishment (1996) | - 4% on cost |
| Improvements | - 10% on cost |
| Plant and machinery | - 10% on cost |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment |
| losses. |
| Financial instruments |
| The following assets and liabilities are classified as financial instruments - trade debtors and trade |
| creditors. |
| Trade debtors and trade creditors are measured at the undiscounted amount of the cash or other |
| consideration expected to be paid or received. |
| 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 the Statement of Income and Retained Earnings. |
| 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. |
| Border Ice Rink Limited (Registered number: SC039323) |
| Notes to the Financial Statements - continued |
| for the year ended 31st July 2017 |
| 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. |
| Government grants |
| Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit |
| and loss account over the expected useful life of the assets. Grants towards revenue expenditure are |
| released to the profit and loss account as the related expenditure is incurred. |
| Provisions |
| Provisions are set up only where it is probable that a present obligation exists as a result of an event |
| prior to the balance sheet date and that a payment will be required in settlement that can be estimated |
| reliably. Where material, provisions are calculated on a discounted basis. |
| Going concern |
| The directors have considered the company's financial position for a period of 12 months from the date |
| of signing these financial statements and have reasonable expectation that the company has adequate |
| resources to continue in operational existence for the foreseeable future. Accordingly, they continue to |
| adopt the going concern basis in preparing these financial statements. |
| Sundry income |
| Included within sundry income is an amount for old dividends that have never been paid which have |
| been written off in the year. |
| Employees and directors |
| There have been no employees during the year (2016 - nil). |
| 3. | Tangible fixed assets |
| Land, |
| buildings |
| and | Plant and |
| improvements | machinery | Totals |
| £ | £ | £ |
| Cost |
| At 1st August 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31st July 2017 |
| Depreciation |
| At 1st August 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31st July 2017 |
| Net book value |
| At 31st July 2017 |
| At 31st July 2016 |
| Border Ice Rink Limited (Registered number: SC039323) |
| Notes to the Financial Statements - continued |
| for the year ended 31st July 2017 |
| 4. | Debtors: amounts falling due within one year |
| 2017 | 2016 |
| £ | £ |
| Other debtors |
| 5. | Creditors: amounts falling due within one year |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 6. | Secured debts |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Grants | 8,574 | 10,715 |
| The Scottish Sports Council have standard security over the property. |
| 7. | Related party disclosures |
| During the year the company received management charges and rent of £40,000 (2016 - £40,000) |
| from Border Ice Rink Club. At the year end Border Ice Rink Limited were due Border Ice Rink Club £67 |
| (2016 - (£10,719)). |