IRIS Accounts Production v23.3.1.45 SC598295 Board of Directors 1.6.22 31.5.23 31.5.23 0 0 false true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5982952022-05-31SC5982952023-05-31SC5982952022-06-012023-05-31SC5982952021-05-31SC5982952021-06-012022-05-31SC5982952022-05-31SC598295ns10:Originalns15:Scotland2022-06-012023-05-31SC598295ns14:PoundSterlingns10:Original2022-06-012023-05-31SC598295ns10:Originalns10:Director12022-06-012023-05-31SC598295ns10:Original2022-06-012023-05-31SC598295ns10:Original2023-05-31SC598295ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-31SC598295ns10:Originalns10:SmallEntities2022-06-012023-05-31SC598295ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-31SC598295ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-31SC598295ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-31SC598295ns10:Originalns10:FullAccounts2022-06-012023-05-31SC598295ns10:Original2021-06-012022-05-31SC598295ns10:Original12022-06-012023-05-31SC598295ns10:Originalns10:Director22022-06-012023-05-31SC598295ns10:Originalns10:RegisteredOffice2022-06-012023-05-31SC598295ns10:Original2022-05-31SC598295ns10:Originalns5:CurrentFinancialInstruments2023-05-31SC598295ns10:Originalns5:CurrentFinancialInstruments2022-05-31SC598295ns10:Originalns5:Non-currentFinancialInstruments2023-05-31SC598295ns10:Originalns5:Non-currentFinancialInstruments2022-05-31SC598295ns5:ShareCapitalns10:Original2023-05-31SC598295ns5:ShareCapitalns10:Original2022-05-31SC598295ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-31SC598295ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-31SC598295ns10:Originalns5:NetGoodwill2022-06-012023-05-31SC598295ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-06-012023-05-31SC598295ns10:Originalns5:NetGoodwill2022-05-31SC598295ns10:Originalns5:NetGoodwill2023-05-31SC598295ns10:Originalns5:NetGoodwill2022-05-31SC598295ns10:Originalns5:PlantMachinery2022-05-31SC598295ns10:Originalns5:PlantMachinery2022-06-012023-05-31SC598295ns10:Originalns5:PlantMachinery2023-05-31SC598295ns10:Originalns5:PlantMachinery2022-05-31SC598295ns10:Originalns5:CostValuation2022-05-31SC598295ns10:Original2022-05-31SC598295ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31SC598295ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-31SC598295ns10:Originalns5:CurrentFinancialInstruments2022-06-012023-05-31SC598295ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-05-31SC598295ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-05-31SC598295ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-31SC598295ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-05-31SC598295ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-05-31SC598295ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-05-31SC598295ns10:Originalns5:Non-currentFinancialInstruments2022-06-012023-05-31
REGISTERED NUMBER: SC598295 (Scotland)



















BLACK PONY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MAY 2023






BLACK PONY LIMITED (REGISTERED NUMBER: SC598295)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BLACK PONY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mrs Marilyn Yik Lynn Li
Kun Li





REGISTERED OFFICE: 9 Royal Crescent
Glasgow
G3 7SP





REGISTERED NUMBER: SC598295 (Scotland)





ACCOUNTANTS: Whitelaw Wells
Chartered Accountants
9 Royal Crescent
Glasgow
G3 7SP

BLACK PONY LIMITED (REGISTERED NUMBER: SC598295)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 28,000
Tangible assets 5 - 2,000
Unlisted investments 6 100 100
Investment property 7 666,280 666,280
666,380 696,380

CURRENT ASSETS
Debtors 8 - 749
Cash at bank 7,180 13,454
7,180 14,203
CREDITORS
Amounts falling due within one year 9 439,569 388,857
NET CURRENT LIABILITIES (432,389 ) (374,654 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

233,991

321,726

CREDITORS
Amounts falling due after more than one
year

10

(343,904

)

(409,939

)

PROVISIONS FOR LIABILITIES - (380 )
NET LIABILITIES (109,913 ) (88,593 )

BLACK PONY LIMITED (REGISTERED NUMBER: SC598295)

BALANCE SHEET - continued
31 MAY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (109,915 ) (88,595 )
(109,913 ) (88,593 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 20 February 2024 and were signed on its behalf by:





Mrs Marilyn Yik Lynn Li - Director


BLACK PONY LIMITED (REGISTERED NUMBER: SC598295)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Black Pony Limited is a private company, limited by shares , registered in Scotland. 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.

Preparation of consolidated financial statements
The financial statements contain information about Black Pony Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 2018, 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.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and Fittings - 20% straight line

Investment property
Investment properties are shown at their fair value. The surplus or deficit arising from the annual revaluation is recognised in the Profit and Loss account for the period. The movement is subsequently transferred to the fair value reserve.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in fair value reserve together with the fair value movement.

This is in accordance with FRS 102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance.

BLACK PONY LIMITED (REGISTERED NUMBER: SC598295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments such as cash, debtors and creditors are measured at transaction price. Financial liabilities classified as payable within one year are not amortised.

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.

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.

Going concern
The directors will not seek repayment of their loan until the company is in a position to do so. The accounts have therefore been prepared on a going concern basis.

Loans and borrowings
Loans and borrowings are initially recorded at the transaction price, including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

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

BLACK PONY LIMITED (REGISTERED NUMBER: SC598295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 140,000
AMORTISATION
At 1 June 2022 112,000
Charge for year 28,000
At 31 May 2023 140,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 28,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 10,000
DEPRECIATION
At 1 June 2022 8,000
Charge for year 2,000
At 31 May 2023 10,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 2,000

BLACK PONY LIMITED (REGISTERED NUMBER: SC598295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2022
and 31 May 2023 100
NET BOOK VALUE
At 31 May 2023 100
At 31 May 2022 100

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 666,280
NET BOOK VALUE
At 31 May 2023 666,280
At 31 May 2022 666,280

The directors are of the opinion that the cost of the investment property is an appropriate estimation of its current market value.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 749

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 26,827 17,778
Corporation Tax 1,947 2,120
Loan from associated company 41,202 -
Directors' current accounts 365,598 365,598
Accrued expenses 3,995 3,361
439,569 388,857

The directors' loan is repayable on demand.

BLACK PONY LIMITED (REGISTERED NUMBER: SC598295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loan > one year 26,827 18,521
Bank loan : 2 to 5 years 80,481 56,783
Bank loan > 5 years 236,596 334,635
343,904 409,939

Amounts falling due in more than five years:

Repayable by instalments
Bank loan > 5 years 236,596 334,635

The bank loan is secured over the assets of the company.

11. RELATED PARTY DISCLOSURES

The loan balance due to the directors amounted to £365,598 (2022 : £365,598) at the year end.

The loan balance due to the associated company of £41,202 (2022 : £NIL) is for Rainbow Steps Nursery Limited, a company who is a wholly owned subsidiary of Black Pony Limited.