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REGISTERED NUMBER: 03186860 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

FIRST THOUGHT (EQUINE) LTD

FIRST THOUGHT (EQUINE) LTD (REGISTERED NUMBER: 03186860)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FIRST THOUGHT (EQUINE) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: Mr D M K Kempsell
Miss M L White





REGISTERED OFFICE: Little Duskin Farm
Covet Lane
Kingston
Canterbury
Kent
CT4 6JS





REGISTERED NUMBER: 03186860 (England and Wales)





ACCOUNTANTS: George & Co.
Chartered Accountants
44a Joy Lane
Whitstable
Kent
CT5 4LT

FIRST THOUGHT (EQUINE) LTD (REGISTERED NUMBER: 03186860)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 316,165 289,198

CURRENT ASSETS
Inventories 55,000 55,000
Debtors 5 55,261 62,331
Cash at bank 235,216 220,045
345,477 337,376
CREDITORS
Amounts falling due within one year 6 265,740 235,959
NET CURRENT ASSETS 79,737 101,417
TOTAL ASSETS LESS CURRENT
LIABILITIES

395,902

390,615

CREDITORS
Amounts falling due after more than one
year

7

(121,039

)

(232,572

)

PROVISIONS FOR LIABILITIES (51,523 ) (43,550 )
NET ASSETS 223,340 114,493

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 223,240 114,393
SHAREHOLDERS' FUNDS 223,340 114,493

FIRST THOUGHT (EQUINE) LTD (REGISTERED NUMBER: 03186860)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

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 and
(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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2023 and were signed on its behalf by:





Mr D M K Kempsell - Director


FIRST THOUGHT (EQUINE) LTD (REGISTERED NUMBER: 03186860)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

First Thought (Equine) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue
Revenue represents the total value, excluding value added tax, of sales earned during the year.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance and 10% on cost

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 21 ) .

FIRST THOUGHT (EQUINE) LTD (REGISTERED NUMBER: 03186860)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2022 149,955 654,950 804,905
Additions - 99,274 99,274
At 30 April 2023 149,955 754,224 904,179
DEPRECIATION
At 1 May 2022 89,971 425,736 515,707
Charge for year 14,995 57,312 72,307
At 30 April 2023 104,966 483,048 588,014
NET BOOK VALUE
At 30 April 2023 44,989 271,176 316,165
At 30 April 2022 59,984 229,214 289,198

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 31,328 48,927
Other debtors 23,933 13,404
55,261 62,331

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 36,000 20,000
Trade creditors 120,304 95,614
Taxation and social security 35,499 35,319
Other creditors 73,937 85,026
265,740 235,959

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 12,600 58,365
Other creditors 108,439 174,207
121,039 232,572

8. ULTIMATE CONTROLLING PARTY

The controlling party is the Board of Directors due to shares held in the holding company.