Acorah Software Products - Accounts Production 14.3.260 false true 31 December 2021 1 January 2021 false 1 January 2022 31 December 2022 31 December 2022 09153831 Mr Mark Steel Hallion Mrs Catherine Steel Mrs Claire Steel Hallion false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09153831 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2021-12-31 09153831 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2022-12-31 09153831 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2022-12-31 09153831 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2022-12-31 09153831 frs-core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-01-01 2022-12-31 09153831 frs-core:AllSubsidiaries 2022-01-01 2022-12-31 09153831 frs-core:KeyManagementPersonnel 2022-01-01 2022-12-31 09153831 frs-core:EntitiesControlledByKeyManagementPersonnel 2022-01-01 2022-12-31 09153831 frs-core:OtherRelatedParties 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Registered number: 09153831
Blackwater Equestrian Services Ltd
Financial Statements
For The Year Ended 31 December 2022
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09153831
2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,440,690 1,449,581
1,440,690 1,449,581
CURRENT ASSETS
Stocks 5 23,000 50,000
Debtors 6 414 4,566
Cash at bank and in hand 100 7,020
23,514 61,586
Creditors: Amounts Falling Due Within One Year 7 (1,110,013 ) (1,711,468 )
NET CURRENT ASSETS (LIABILITIES) (1,086,499 ) (1,649,882 )
TOTAL ASSETS LESS CURRENT LIABILITIES 354,191 (200,301 )
Creditors: Amounts Falling Due After More Than One Year 8 (308,920 ) (308,333 )
NET ASSETS/(LIABILITIES) 45,271 (508,634 )
CAPITAL AND RESERVES
Called up share capital 10 1,000,100 320,100
Profit and Loss Account (954,829 ) (828,734 )
SHAREHOLDERS' FUNDS 45,271 (508,634)
Page 1
Page 2
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Claire Steel Hallion
Director
11th February 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Blackwater Equestrian Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09153831 . The registered office is Blackwater Equestrian Foxes Lane, Wellow, Romsey, SO51 6EA.
2. Accounting Policies
2.1. Basis of Preparation of 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.

The financial statements for the period under review ended 31 December 2022 have been prepared on a going concern basis. The directors have considered a period of twelve months from the period of approval of these financial statements, whereby they believe that there a substantial increase in cash inflows. On this basis, the directors believe that it is prudent to prepare the accounts on a going concern basis.

Mr R Steel and Mrs C M Steel, have confirmed that they will not withdraw their loan if it would render the company unable to pay its liabilities as they fall due, for at least twelve months beyond the approval date of these financial statements.

2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land not provided
Plant and machinery 20% on reducing balance
Motor Vehicles 5% on cost
Arena and equine facilities not provided
Tangible fixed asset are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt Instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year of less. If not, they are present as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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2.7. Taxation
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items that are never taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and will be reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settle d or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.8. Employee
The cost of short-term benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2021: 4)
4 4
4. Tangible Assets
Land & Property
Land Plant and machinery Motor Vehicles Arena and equine facilities Total
£ £ £ £ £
Cost
As at 1 January 2022 818,118 74,917 322,500 308,174 1,523,709
Additions 10,617 - - - 10,617
As at 31 December 2022 828,735 74,917 322,500 308,174 1,534,326
Depreciation
As at 1 January 2022 - 58,003 16,125 - 74,128
Provided during the period - 3,383 16,125 - 19,508
As at 31 December 2022 - 61,386 32,250 - 93,636
Net Book Value
As at 31 December 2022 828,735 13,531 290,250 308,174 1,440,690
As at 1 January 2022 818,118 16,914 306,375 308,174 1,449,581
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5. Stocks
2022 2021
£ £
Stock 23,000 50,000
23,000 50,000
6. Debtors
2022 2021
£ £
Due within one year
Trade debtors 359 2,784
VAT 55 1,782
414 4,566
7. Creditors: Amounts Falling Due Within One Year
2022 2021
£ £
Bank loans and overdrafts 23,169 -
Other creditors 675,026 627,796
Accruals and deferred income 800 800
Directors' loan accounts 411,018 1,082,872
1,110,013 1,711,468
8. Creditors: Amounts Falling Due After More Than One Year
2022 2021
£ £
Net obligations under finance lease and hire purchase contracts 308,920 308,333
308,920 308,333
9. Obligations Under Finance Leases and Hire Purchase
2022 2021
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 308,920 308,333
308,920 308,333
308,920 308,333
10. Share Capital
2022 2021
£ £
Allotted, Called up and fully paid 1,000,100 320,100
11. Controlling Party
The ultimate controlling party is Miss C L Steel Hallion.
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