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REGISTERED NUMBER: 12525997 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

WP Sporthorses Ltd

WP Sporthorses Ltd (Registered number: 12525997)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WP Sporthorses Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs L C H Plunkett
Mr W O J Plunkett





REGISTERED OFFICE: 15 Platts Meadow
Billingshurst
West Sussex
RH14 9HX





REGISTERED NUMBER: 12525997 (England and Wales)





ACCOUNTANTS: Don Roper Accountant Limited
Linden Lea
Allington Lane
West End
Southampton
Hampshire
SO30 3HQ

WP Sporthorses Ltd (Registered number: 12525997)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,000 12,000
Tangible assets 5 6,368 8,586
14,368 20,586

CURRENT ASSETS
Stocks 6 37,554 27,055
Debtors 7 20,257 15,606
Cash at bank 3,924 6,133
61,735 48,794
CREDITORS
Amounts falling due within one year 8 74,310 69,063
NET CURRENT LIABILITIES (12,575 ) (20,269 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,793

317

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 1,693 217
SHAREHOLDERS' FUNDS 1,793 317

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.

WP Sporthorses Ltd (Registered number: 12525997)

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.

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 16 November 2023 and were signed on its behalf by:




Mrs L C H Plunkett - Director



Mr W O J Plunkett - Director


WP Sporthorses Ltd (Registered number: 12525997)

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

1. STATUTORY INFORMATION

WP Sporthorses 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

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

WP Sporthorses Ltd (Registered number: 12525997)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 20,000
AMORTISATION
At 1 April 2022 8,000
Amortisation for year 4,000
At 31 March 2023 12,000
NET BOOK VALUE
At 31 March 2023 8,000
At 31 March 2022 12,000

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 15,000 331 15,331
DEPRECIATION
At 1 April 2022 6,563 182 6,745
Charge for year 2,109 109 2,218
At 31 March 2023 8,672 291 8,963
NET BOOK VALUE
At 31 March 2023 6,328 40 6,368
At 31 March 2022 8,437 149 8,586

6. STOCKS
31.3.23 31.3.22
£    £   
Stocks 25,870 17,055
Work-in-progress 11,684 10,000
37,554 27,055

WP Sporthorses Ltd (Registered number: 12525997)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 20,073 15,365
Prepayments 184 241
20,257 15,606

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 7,699 5,141
Corporation tax 19,552 10,088
Social security and other taxes 326 -
VAT 9,208 7,297
Other creditors 6,211 -
Directors' current accounts 30,312 45,537
Accrued expenses 1,002 1,000
74,310 69,063

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2022 217
Profit for the year 51,476
Dividends (50,000 )
At 31 March 2023 1,693

WP Sporthorses Ltd (Registered number: 12525997)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mrs L C H Plunkett
Balance outstanding at start of year (9,399 ) (13,063 )
Amounts advanced 42,526 22,453
Amounts repaid (34,913 ) (18,789 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,786 ) (9,399 )

Mr W O J Plunkett
Balance outstanding at start of year (36,139 ) (39,803 )
Amounts advanced 42,526 22,453
Amounts repaid (34,913 ) (18,789 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (28,526 ) (36,139 )

12. RELATED PARTY DISCLOSURES

The company was under the control of Mr W and Mrs L Plunkett throughout the current period. Mr W and Mrs L Plunkett are the managing directors and majority shareholders.

No transactions with related parties were undertaken such as are required to be disclosed under Section 1a (Small entities) for Financial Reporting Standard 102.