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REGISTERED NUMBER: 07105516 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Peter Charles Equestrian Limited

Peter Charles Equestrian Limited (Registered number: 07105516)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Peter Charles Equestrian Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: P D Charles





REGISTERED OFFICE: Bennett House
The Dean
Alresford
Hampshire
SO24 9BH





REGISTERED NUMBER: 07105516 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
Bennett House
The Dean
Alresford
Hampshire
SO24 9BH

Peter Charles Equestrian Limited (Registered number: 07105516)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 291,003 -

CURRENT ASSETS
Stocks 50,000 75,000
Debtors 5 376,240 49,386
Cash at bank 57,089 20,571
483,329 144,957
CREDITORS
Amounts falling due within one year 6 500,435 269,318
NET CURRENT LIABILITIES (17,106 ) (124,361 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

273,897

(124,361

)

PROVISIONS FOR LIABILITIES 7 45,003 -
NET ASSETS/(LIABILITIES) 228,894 (124,361 )

CAPITAL AND RESERVES
Called up share capital 8 103 103
Retained earnings 228,791 (124,464 )
SHAREHOLDERS' FUNDS 228,894 (124,361 )

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 director acknowledges his 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 director and authorised for issue on 12 March 2024 and were signed by:



P D Charles - Director


Peter Charles Equestrian Limited (Registered number: 07105516)

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

1. STATUTORY INFORMATION

Peter Charles Equestrian Limited 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 represents horse sales, net commissions and agents fees; exclusive of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% reducing balance basis

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

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.

3. EMPLOYEES AND DIRECTORS

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

Peter Charles Equestrian Limited (Registered number: 07105516)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 342,357
At 31 March 2023 342,357
DEPRECIATION
Charge for year 51,354
At 31 March 2023 51,354
NET BOOK VALUE
At 31 March 2023 291,003

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 10,000 11,286
VAT 6,240 240
Deferred tax asset - 37,860
Accrued income 360,000 -
376,240 49,386

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 18,060 3,500
Amounts owed to PC Promotions - 90,000
Directors' current accounts 469,125 144,618
Accrued expenses 13,250 31,200
500,435 269,318

7. PROVISIONS FOR LIABILITIES
2023
£   
Deferred tax 45,003

Deferred
tax
£   
Balance at 1 April 2022 (37,860 )
On losses 27,572
On capital allowances 55,291
Balance at 31 March 2023 45,003

Peter Charles Equestrian Limited (Registered number: 07105516)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

2023 2022
Number: Class: Nominal Value: £    £   
100 Ordinary £1 100 100
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
103 103

9. RELATED PARTY DISCLOSURES

Mr P D Charles
Director

During the year under review, Mr P Charles sole trade enterprise charged Peter Charles Equestrian Limited for the use of facilities, keep costs and other charges; the amount charged for the period was £12,000 (2022: £12,000).

At the year end, Peter Charles Equestrian Limited owed Mr Peter Charles £469,125 (2022: £144,618). This balance is given interest free, is unsecured and is repayable on demand.


PC Promotions
An Irish company in which Mr Charles is a shareholder & director

During the year under review, Peter Charles Equestrian Limited charged PC Promotions for management and consultancy services provided, the amount charged for the period was £360,000 (2022: £nil).