Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-311true2022-09-01falsefalseNo description of principal activity1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09191634 2022-09-01 2023-08-31 09191634 2021-09-01 2022-08-31 09191634 2023-08-31 09191634 2022-08-31 09191634 c:Director1 2022-09-01 2023-08-31 09191634 d:CurrentFinancialInstruments 2023-08-31 09191634 d:CurrentFinancialInstruments 2022-08-31 09191634 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 09191634 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 09191634 d:ShareCapital 2023-08-31 09191634 d:ShareCapital 2022-08-31 09191634 d:RetainedEarningsAccumulatedLosses 2023-08-31 09191634 d:RetainedEarningsAccumulatedLosses 2022-08-31 09191634 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 09191634 d:TaxLossesCarry-forwardsDeferredTax 2022-08-31 09191634 c:FRS102 2022-09-01 2023-08-31 09191634 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 09191634 c:FullAccounts 2022-09-01 2023-08-31 09191634 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 09191634









PERCEVAL BLOODSTOCK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
PERCEVAL BLOODSTOCK LIMITED
REGISTERED NUMBER: 09191634

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
-
10,000

Debtors: amounts falling due within one year
 4 
-
26,797

Cash at bank and in hand
 5 
61,474
35,123

  
61,474
71,920

Creditors: amounts falling due within one year
 6 
(13,096)
(4,871)

Net current assets
  
 
 
48,378
 
 
67,049

Total assets less current liabilities
  
48,378
67,049

  

Net assets
  
48,378
67,049


Capital and reserves
  

Called up share capital 
  
150,001
150,001

Profit and loss account
  
(101,623)
(82,952)

  
48,378
67,049


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
PERCEVAL BLOODSTOCK LIMITED
REGISTERED NUMBER: 09191634
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S R Hope
Director

Date: 2 February 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PERCEVAL BLOODSTOCK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Perceval Bloodstock Limited is a private limited company, limited by shares, incorporated in England and Wales with registration number 09191634. The address of the registered office is First Floor, Radius House, 51 Clarendon Road, Watford, Herts, WD17 1HP. 
The company's principal activity is that of racehorse owners.
The signficant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue represents the proceeds receivable from the sale of horses and recharged livery costs. 

Page 3

 
PERCEVAL BLOODSTOCK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
PERCEVAL BLOODSTOCK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Debtors

2023
2022
£
£


Other debtors
-
521

Prepayments and accrued income
-
244

Deferred taxation
-
26,032

-
26,797



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
61,474
35,123

61,474
35,123


Page 5

 
PERCEVAL BLOODSTOCK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
360
-

Other taxation and social security
8,392
-

Other creditors
2,344
1,371

Accruals and deferred income
2,000
3,500

13,096
4,871



7.


Deferred taxation




2023


£






At beginning of year
26,032


Utilised in year
(26,032)



At end of year
-

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
-
26,032

-
26,032


8.


Related party transactions

At the year end, the company owe £2,345 (2022: £1,371) to the Director.

 
Page 6