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REGISTERED NUMBER: 12324749 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2022

for

Beswick Brothers Bloodstock Ltd

Beswick Brothers Bloodstock Ltd (Registered number: 12324749)






Contents of the Financial Statements
for the Year Ended 30 November 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Beswick Brothers Bloodstock Ltd

Company Information
for the Year Ended 30 November 2022







Directors: W Ryan-Beswick
B Ryan-Beswick





Registered office: Caeau Uchaf
Flanders Lane
Penyffordd
Holywell
Flintshire
CH8 9HJ





Registered number: 12324749 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Beswick Brothers Bloodstock Ltd (Registered number: 12324749)

Statement of Financial Position
30 November 2022

30/11/22 30/11/21
Notes £    £    £    £   
Fixed assets
Tangible assets 4 8,321 2,396

Current assets
Stocks 75,106 112,867
Debtors 5 - 1,140
Cash at bank 466 -
75,572 114,007
Creditors
Amounts falling due within one year 6 909,165 534,600
Net current liabilities (833,593 ) (420,593 )
Total assets less current liabilities (825,272 ) (418,197 )

Capital and reserves
Called up share capital 100 100
Retained earnings (825,372 ) (418,297 )
Shareholders' funds (825,272 ) (418,197 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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.

Beswick Brothers Bloodstock Ltd (Registered number: 12324749)

Statement of Financial Position - continued
30 November 2022


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 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 23 December 2023 and were signed on its behalf by:





B Ryan-Beswick - Director


Beswick Brothers Bloodstock Ltd (Registered number: 12324749)

Notes to the Financial Statements
for the Year Ended 30 November 2022

1. Statutory information

Beswick Brothers Bloodstock 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 recognised exclusive of VAT, upon the transfer of risk when a horse is sold (generally when passport ownership transfers). Prize money is recognised on the race day and sponsorship is recognised dependant on the period or day of sponsor.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Plant and machinery - 20% on cost

Inventory
Inventory comprises bloodstock held for the purpose of training and racing. Such assets are stated at the lower of cost and net realisable value (selling price less costs to sell). Where a write down is identified the value of the stock is reduced and the reduction immediately charged in the profit and loss account.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Beswick Brothers Bloodstock Ltd (Registered number: 12324749)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

2. Accounting policies - continued

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

Going concern
The financial statements have been prepared on the going concern basis of accounting, on the assumption that the directors will continue to provide financial support to enable the company to meet its liabilities, which exceeded its assets at 30 November 2022.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, which are described in the note above. The directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.The only significant estimate or judgement applied is in determining the net realisable value of inventory. The carrying value of inventory held at the balance sheet date was £75,106 (2021 - £112,867). The assessment of net realisable value requires judgement on the perceived market value of horses, which year on year may be materially different depending on performance. Such values can also fluctuate significantly over a relatively short period of time depending upon their performance and that of related bloodstock.

3. Employees and directors

The average number of employees during the year was NIL (2021 - NIL).

4. Tangible fixed assets
Leasehold Plant and
improvements machinery Totals
£    £    £   
Cost
At 1 December 2021 - 2,995 2,995
Additions 7,249 - 7,249
At 30 November 2022 7,249 2,995 10,244
Depreciation
At 1 December 2021 - 599 599
Charge for year 725 599 1,324
At 30 November 2022 725 1,198 1,923
Net book value
At 30 November 2022 6,524 1,797 8,321
At 30 November 2021 - 2,396 2,396

Beswick Brothers Bloodstock Ltd (Registered number: 12324749)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

5. Debtors: amounts falling due within one year
30/11/22 30/11/21
£    £   
Other debtors - 1,140

6. Creditors: amounts falling due within one year
30/11/22 30/11/21
£    £   
Bank loans and overdrafts - 26
Taxation and social security 1,210 3,672
Other creditors 907,955 530,902
909,165 534,600

7. Related party disclosures

The directors have made loans to the company. The balance owed on these loans by the company at 30 November 2022 was £550,060 (2021 - £471,584). The loans are interest free and repayable on demand.