Company registration number 07074945 (England and Wales)
EAGLESFIELD EQUESTRIAN HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
EAGLESFIELD EQUESTRIAN HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
EAGLESFIELD EQUESTRIAN HOLDINGS LIMITED (REGISTERED NUMBER: 07074945)
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
732,330
715,720
Investments
4
1,032
1,032
733,362
716,752
Current assets
Debtors
6
20,923
30,886
Cash at bank and in hand
28,534
19,516
49,457
50,402
Creditors: amounts falling due within one year
7
(610,508)
(646,167)
Net current liabilities
(561,051)
(595,765)
Total assets less current liabilities
172,311
120,987
Provisions for liabilities
(43,159)
(39,789)
Net assets
129,152
81,198
Capital and reserves
Called up share capital
1,043
1,043
Profit and loss reserves
128,109
80,155
Total equity
129,152
81,198
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
EAGLESFIELD EQUESTRIAN HOLDINGS LIMITED (REGISTERED NUMBER: 07074945)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 11 March 2024 and are signed on its behalf by:
Mr K W Clark
Director
EAGLESFIELD EQUESTRIAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Eaglesfield Equestrian Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Eaglesfield, West Yoke, Ash, Sevenoaks, Kent, TN15 7HT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Building Freehold
Straight lline over 50 years
Leasehold improvements
Straight line over 50 years
Plant and machinery
10% on reducing balance
Computer equipment
25% on reducing balance
Motor vehicles
25% on reducing balance
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.
EAGLESFIELD EQUESTRIAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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 of income or expense that are 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
6
6
EAGLESFIELD EQUESTRIAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Tangible fixed assets
Building Freehold
Leasehold improvements
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2023
520,431
41,316
263,234
1,575
86,125
912,681
Additions
50,176
50,176
Disposals
(11,775)
(11,775)
At 31 December 2023
520,431
41,316
301,635
1,575
86,125
951,082
Depreciation and impairment
At 1 January 2023
13,493
6,847
156,309
1,014
19,298
196,961
Depreciation charged in the year
1,038
826
12,184
140
16,707
30,895
Eliminated in respect of disposals
(9,104)
(9,104)
At 31 December 2023
14,531
7,673
159,389
1,154
36,005
218,752
Carrying amount
At 31 December 2023
505,900
33,643
142,246
421
50,120
732,330
At 31 December 2022
506,938
34,469
106,925
561
66,827
715,720
4
Fixed asset investments
2023
2022
£
£
Investments
1,032
1,032
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 January 2023 & 31 December 2023
1,032
Carrying amount
At 31 December 2023
1,032
At 31 December 2022
1,032
EAGLESFIELD EQUESTRIAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Subsidiaries
Details of the company's subsidiaries at 31 December 2023 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Eaglesfield Equestrian Events Limited
UK
Ordinary
100.00
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
20,923
14,906
Other debtors
15,980
20,923
30,886
7
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
10,354
Other creditors
600,154
646,167
610,508
646,167
8
Related party transactions
During the year, the company sold services totalling £137,040 (2022; £107,520) to a subsidiary company.
At the year end the company was owed £20,923 (2022: £14,906) by a subsidiary company.