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Unaudited Financial Statements for the Year Ended 31 October 2016 |
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Pitch and Track Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 October 2016 |
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for |
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Pitch and Track Ltd |
Pitch and Track Ltd (Registered number: 06412542) |
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Contents of the Financial Statements |
for the Year Ended 31 October 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Pitch and Track Ltd |
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Company Information |
for the Year Ended 31 October 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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Pitch and Track Ltd (Registered number: 06412542) |
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Balance Sheet |
31 October 2016 |
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31.10.16 | 31.10.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors | 3 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 5 | ( |
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PROVISIONS FOR LIABILITIES | 8 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Profit and loss account | 10 |
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SHAREHOLDERS' FUNDS |
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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
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(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. |
Pitch and Track Ltd (Registered number: 06412542) |
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Balance Sheet - continued |
31 October 2016 |
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The financial statements were approved by the Board of Directors on
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Pitch and Track Ltd (Registered number: 06412542) |
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Notes to the Financial Statements |
for the Year Ended 31 October 2016 |
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1. | ACCOUNTING POLICIES |
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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). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
date. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital |
element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme |
are charged to the profit and loss account in the period to which they relate. |
Pitch and Track Ltd (Registered number: 06412542) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2016 |
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2. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 November 2015 |
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Additions |
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Disposals | ( |
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At 31 October 2016 |
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DEPRECIATION |
At 1 November 2015 |
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Charge for year |
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Eliminated on disposal |
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At 31 October 2016 |
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NET BOOK VALUE |
At 31 October 2016 |
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At 31 October 2015 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 November 2015 |
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Additions |
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Disposals |
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At 31 October 2016 |
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DEPRECIATION |
At 1 November 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 October 2016 |
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NET BOOK VALUE |
At 31 October 2016 |
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At 31 October 2015 |
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Pitch and Track Ltd (Registered number: 06412542) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2016 |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.16 | 31.10.15 |
£ | £ |
Trade debtors | 344,041 | 170,311 |
Other debtors | 21,104 | 3,761 |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.16 | 31.10.15 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.10.16 | 31.10.15 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 75,227 |
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6. | LOANS |
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An analysis of the maturity of loans is given below: |
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31.10.16 | 31.10.15 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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Bank loans |
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72,326 | 28,091 |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Pitch and Track Ltd (Registered number: 06412542) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2016 |
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6. | LOANS - continued |
31.10.16 | 31.10.15 |
£ | £ |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 75,227 |
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7. | OPERATING LEASE COMMITMENTS |
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8. | PROVISIONS FOR LIABILITIES |
31.10.16 | 31.10.15 |
£ | £ |
Deferred tax |
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Deferred |
tax |
£ |
Balance at 1 November 2015 |
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Accelerated capital allowances | ( |
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Balance at 31 October 2016 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.16 | 31.10.15 |
value: | £ | £ |
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Ordinary | £1 |
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10. | RESERVES |
Profit |
and loss |
account |
£ |
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At 1 November 2015 |
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Profit for the year |
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Dividends | ( |
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At 31 October 2016 |
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Pitch and Track Ltd (Registered number: 06412542) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2016 |
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11. | RELATED PARTY DISCLOSURES |
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Mr M Q Pashley and Miss M McCormick |
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Directors of the company |
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31.10.16 | 31.10.15 |
£ | £ |
Amount due to related party at the balance sheet date |
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Pitch and Track |
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A business in which Mr M Q Pashley is the sole proprietor |
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Pitch and Track Limited have paid for goods and services totalling £12,551 (2015; £25,553) on behalf of Pitch and Track |
during the year. These have been recharged to Pitch and Track |
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Pitch and Track Limited have also charged Pitch and Track rent of £12,000 (2015; £10,000) during the year. |
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Pitch and Track Limited purchased goods and services totalling £17,075 (2015; £12,750) from Pitch and Track during the |
year. |
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31.10.16 | 31.10.15 |
£ | £ |
Amount due from related party at the balance sheet date |
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Pitch and Track Holdings Ltd |
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A company which controls Pitch and Track ltd |
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Dividends totalling £95,000 (2015; £23,000) were paid to Pitch and Track Holdings Ltd in the year |
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12. | ULTIMATE CONTROLLING PARTY |
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The controlling party is
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