A record-breaking deal for Tottenham Hotspur winger Bale remains a possibility, with Real having spent much of the summer chasing the Wales international's services.
Spurs have stood firm so far, but face an anxious few weeks as the transfer window remains open.
Ancelotti would undoubtedly welcome the recruitment of a player of Bale's quality, but insists he would be happy to start the new season with those already at his disposal if no agreement is reached.
"I'm very happy with the squad. We don't need any more players," said the Italian tactician.
"The important thing is to create a style of play that is comfortable for my players.
"Our objective is not only to win but to also play beautiful, attacking football."