SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Company Registration Number:
SC699703 (Scotland)

Unaudited abridged accounts for the year ended 31 May 2023

Period of accounts

Start date: 01 June 2022

End date: 31 May 2023

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Company Information

for the Period Ended 31 May 2023




Director: Stephen P McCluskey
Secretary: Stephen P McCluskey
Registered office: Earnock Cottage
Woodfoot Road
Hamilton
GB-SCT
ML3 8LW
Company Registration Number: SC699703 (Scotland)

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Directors' Report Period Ended 31 May 2023

The directors present their report with the financial statements of the company for the period ended 31 May 2023

Principal Activities

During our second year trading, the racing stock improved significantly, and our home breeding programme was supplemented by the purchase of new foals and yealings

Directors

The directors shown below have held office during the whole of the period from 01 June 2022 to 31 May 2023
Stephen P McCluskey

Secretary
Stephen P McCluskey

This report was approved by the board of directors on 20 October 2023
And Signed On Behalf Of The Board By:

Name: Stephen P McCluskey
Status: Director

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Profit and Loss Account

for the Period Ended 31 May 2023


Notes

2023
£

2022
£
Gross Profit or (Loss) 141,780 262,050
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 8,442 ) ( 11,420 )
Administrative Expenses ( 6,740 ) ( 5,460 )
Operating Profit or (Loss) 126,598 245,170
Interest Payable and Similar Charges ( 144 ) ( 182 )
Profit or (Loss) Before Tax 126,454 244,988
Profit or (Loss) for Period 126,454 244,988

The notes form part of these financial statements

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Balance sheet

As at 31 May 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 4 489,022 285,896
Total fixed assets: 489,022 285,896
Current assets
Stocks: 18,140 22,150
Debtors: 34,184 26,560
Cash at bank and in hand: 48,762 34,622
Total current assets: 101,086 83,332
Creditors: amounts falling due within one year: ( 32,154 ) ( 22,176 )
Net current assets (liabilities): 68,932 61,156
Total assets less current liabilities: 557,954 347,052
Total net assets (liabilities): 557,954 347,052

The notes form part of these financial statements

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Balance sheet continued

As at 31 May 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Revaluation reserve: 5 557,854 346,952
Shareholders funds: 557,954 347,052

For the year ending 31 May 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 20 October 2023
And Signed On Behalf Of The Board By:

Name: Stephen P McCluskey
Status: Director

The notes form part of these financial statements

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 0 0

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 3. Off balance sheet disclosure

    No

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Tangible Assets

Total
Cost £
At 01 June 2022 285,896
Additions 132,780
Disposals (64,070)
Revaluations 134,416
Transfers -
At 31 May 2023 489,022
Depreciation
At 01 June 2022 -
Charge for year -
On disposals -
Other adjustments -
At 31 May 2023 -
Net book value
At 31 May 2023 489,022
At 31 May 2022 285,896

Over the year we added to our current assets with new broodmares and new foals born as well as racing fillies and yearlings purchased.

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

5. Revaluation reserve


2023
£
Balance at 01 June 2022 346,952
Surplus or deficit after revaluation 210,902
Balance at 31 May 2023 557,854

Revaluation of current racing and breeding stock was completed by an independent third party for insurance purposes