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Registration number: 10833830

Trereife Equestrian Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Trereife Equestrian Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Trereife Equestrian Ltd

Company Information

Directors

Miss Grace Helen Boulton

Mrs Caroline Jane Boulton

Registered office

The Lodge
Trereife Equestrian
Newlyn
Penzance
Cornwall
TR20 8TJ

Accountants

D.J. Reynolds & Co
15 Alverton Street
Penzance
Cornwall
TR18 2QP

 

Trereife Equestrian Ltd

(Registration number: 10833830)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

374,804

382,195

Current assets

 

Stocks

5

5,000

5,000

Debtors

6

8,116

4,532

Cash at bank and in hand

 

1,347

125

 

14,463

9,657

Creditors: Amounts falling due within one year

7

(415,196)

(399,803)

Net current liabilities

 

(400,733)

(390,146)

Net liabilities

 

(25,929)

(7,951)

Capital and reserves

 

Called up share capital

8

4

4

Retained earnings

(25,933)

(7,955)

Shareholders' deficit

 

(25,929)

(7,951)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 October 2023 and signed on its behalf by:
 

.........................................
Miss Grace Helen Boulton
Director

 

Trereife Equestrian Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Lodge
Trereife Equestrian
Newlyn
Penzance
Cornwall
TR20 8TJ

These financial statements were authorised for issue by the Board on 22 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Trereife Equestrian Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

Not depreciated

Stables etc

2% reducing balance

Equipment

15% reducing balance

Horses

15% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Trereife Equestrian Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 5).

 

Trereife Equestrian Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

377,388

10,888

1,000

16,050

405,326

At 30 June 2023

377,388

10,888

1,000

16,050

405,326

Depreciation

At 1 July 2022

14,036

3,303

438

5,354

23,131

Charge for the year

4,506

1,138

142

1,605

7,391

At 30 June 2023

18,542

4,441

580

6,959

30,522

Carrying amount

At 30 June 2023

358,846

6,447

420

9,091

374,804

At 30 June 2022

363,352

7,585

562

10,696

382,195

Included within the net book value of land and buildings above is £358,846 (2022 - £363,352) in respect of freehold land and buildings.
 

 

Trereife Equestrian Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Stocks

2023
£

2022
£

Other inventories

5,000

5,000

6

Debtors

2023
£

2022
£

Trade debtors

8,116

4,447

Prepayments

-

85

8,116

4,532

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

13,000

112,000

Trade creditors

 

943

2,586

Taxation and social security

 

1,477

1,853

Accruals and deferred income

 

1,625

1,955

Other creditors

 

398,151

281,409

 

415,196

399,803

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4

         
 

Trereife Equestrian Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

13,000

112,000

10

Related party transactions

Transactions with directors

2023

At 1 July 2022
£

Advances to director
£

Funds introduced by director
£

At 30 June 2023
£

Mrs Caroline Jane Boulton

Interest free-loan to the company, repayable on demand

251,508

(13)

115,035

366,530

         
       

Miss Grace Helen Boulton

Interest-free loan to the company, repayable on demand

29,901

(216)

1,936

31,621

         
       

 

2022

At 1 July 2021
£

Advances to director
£

Funds introduced by director
£

At 30 June 2022
£

Mrs Caroline Jane Boulton

Interest free-loan to the company, repayable on demand

244,068

(1,806)

9,246

251,508

         
       

Miss Grace Helen Boulton

Interest-free loan to the company, repayable on demand

20,842

(144)

9,203

29,901