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REGISTERED NUMBER: 05063147 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

The Saddlery Shop Ltd

The Saddlery Shop Ltd (Registered number: 05063147)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


The Saddlery Shop Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs L Nicholas
Mr D Nicholas





REGISTERED OFFICE: 69 High Street
Bideford
Devon
EX39 2AT





REGISTERED NUMBER: 05063147 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

The Saddlery Shop Ltd (Registered number: 05063147)

Abridged Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 69,203 39,264
69,203 39,264

CURRENT ASSETS
Stocks 128,330 131,264
Debtors 8,114 6,858
Cash at bank 81,513 112,498
217,957 250,620
CREDITORS
Amounts falling due within one year 110,293 107,124
NET CURRENT ASSETS 107,664 143,496
TOTAL ASSETS LESS CURRENT
LIABILITIES

176,867

182,760

CREDITORS
Amounts falling due after more than one
year

(15,625

)

-

PROVISIONS FOR LIABILITIES (13,130 ) (7,334 )
NET ASSETS 148,112 175,426

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 148,012 175,326
SHAREHOLDERS' FUNDS 148,112 175,426

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Saddlery Shop Ltd (Registered number: 05063147)

Abridged Balance Sheet - continued
31 March 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:





Mrs L Nicholas - Director


The Saddlery Shop Ltd (Registered number: 05063147)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

The Saddlery Shop 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Website development expenditure
Website development expenditure is being written off in equal annual instalments over its estimated useful economic life of 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% straight line
Fixtures and fittings - 25% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance
Promotional assets - 10% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

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

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.


The Saddlery Shop Ltd (Registered number: 05063147)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 6 ) .

The Saddlery Shop Ltd (Registered number: 05063147)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 18,061
AMORTISATION
At 1 April 2022
and 31 March 2023 18,061
NET BOOK VALUE

At 31 March 2023 -
At 31 March 2022 -

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 144,965
Additions 66,110
Disposals (18,491 )
At 31 March 2023 192,584
DEPRECIATION
At 1 April 2022 105,701
Charge for year 23,375
Eliminated on disposal (5,695 )
At 31 March 2023 123,381
NET BOOK VALUE
At 31 March 2023 69,203
At 31 March 2022 39,264


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100