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Registered number: 02522976 WOOLMER COTTAGE STABLES LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2023
WOOLMER COTTAGE STABLES LIMITED REGISTERED NUMBER: 02522976 BALANCE SHEET AS AT 31 MARCH 2023
|  | 2023 |  | 2022
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 67,920 |  | 77,128
Current assets |  |  |  |  |
Stocks |  | 979 |  | 1,500 |
Debtors: amounts falling due within one year | 5 | 4,180 |  | 3,359 |
Cash at bank |  | 15,428 |  | 16,495 |
Current liabilities |  | 20,587 |  | 21,354 |
Creditors: amounts falling due within one year | 6 | (182,453) |  | (182,754) |
Net current liabilities |  |  | (161,866) |  | (161,400)
Net liabilities |  |  | (93,946) |  | (84,272)
Capital and reserves |  |  |  |  |
Called up share capital | 7 |  | 100 |  | 100
Profit and loss account |  |  | (94,046) |  | (84,372)
|  |  | (93,946) |  | (84,272)
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WOOLMER COTTAGE STABLES LIMITED REGISTERED NUMBER: 02522976 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mrs M E M Crichton Maitland
Director
Date: 3 October 2023
The notes on pages 3 to 8 form part of these financial statements. Page 2
WOOLMER COTTAGE STABLES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. | GENERAL INFORMATION
Woolmer Cottage Stables Limited is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is 3 Morleys Place, Sawston, Cambridge, CB22 3TG. This Company is not part of group. 2.ACCOUNTING POLICIES
| 2.1 | BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | GOING CONCERN
The financial statements have been prepared on a going conern basis which assumes the continued financial support of the members.
| 2.3 | REVENUE
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 3
WOOLMER COTTAGE STABLES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 2.ACCOUNTING POLICIES (CONTINUED)
| 2.4 | TANGIBLE FIXED ASSETS
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% | straight line
|  |  |  | Motor vehicles | - | 25% | straight line
|  |  |  | Fixtures and fittings | - | 25% | straight line
|  |  |  | Other fixed assets | - | 10% | straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.5 | DEBTORS
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 4
WOOLMER COTTAGE STABLES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 2.ACCOUNTING POLICIES (CONTINUED)
| 2.6 | FINANCIAL INSTRUMENTS
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
| 2.7 | CREDITORS
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 5
WOOLMER COTTAGE STABLES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 2.ACCOUNTING POLICIES (CONTINUED)
| 2.8 | TAXATION
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3. | EMPLOYEES
| The average monthly number of employees, including directors, during the year was 2 (2022 - 2).
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WOOLMER COTTAGE STABLES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
4. | TANGIBLE FIXED ASSETS
|  | Other fixed assets
|  | £
| Cost |
| At 1 April 2022 | 238,273
| At 31 March 2023 | 238,273
| Depreciation |
| At 1 April 2022 | 161,145
| Charge for the year on owned assets | 9,208
| At 31 March 2023 | 170,353
| Net book value |
| At 31 March 2023 | 67,920
| At 31 March 2022 | 77,128
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WOOLMER COTTAGE STABLES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
5. | DEBTORS
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Trade debtors | 836 | 133
| Prepayments and accrued income | 3,344 | 3,226
|  | 4,180 | 3,359
6. | CREDITORS: Amounts falling due within one year
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Trade creditors | 1,538 | 635
| Other taxation and social security | 3,196 | 569
| Other creditors | 176,119 | 180,350
| Accruals | 1,600 | 1,200
|  | 182,453 | 182,754
7. | SHARE CAPITAL
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2022 - 100) Ordinary shares of £1.00 each | 100 | 100
8. | RELATED PARTY TRANSACTIONS
| During the year the Company operated loans with the directors of the Company. The amount payable to the directors of the Company at the year end was £176,119 (2022 - £180,347). These loans are interest free and repayable on demand.
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