Registered number
09783560
Oswestry Equestrian Centre Limited
Filleted Accounts
31 March 2023
Oswestry Equestrian Centre Limited
Registered number: 09783560
Balance Sheet
as at 31 March 2023
Notes 2023 2021
£ £
Fixed assets
Tangible assets 3 4,986 859,826
Current assets
Stocks - 77
Debtors 4 342,702 -
Cash at bank and in hand 71,514 -
414,216 77
Creditors: amounts falling due within one year 5 (91,911) (83,736)
Net current assets/(liabilities) 322,305 (83,659)
Total assets less current liabilities 327,291 776,167
Creditors: amounts falling due after more than one year 6 (15,276) (806,995)
Net assets/(liabilities) 312,015 (30,828)
Capital and reserves
Called up share capital 2 2
Profit and loss account 312,013 (30,830)
Shareholders' funds 312,015 (30,828)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R S Connell
Director
Approved by the board on 8 April 2024
Oswestry Equestrian Centre Limited
Notes to the Accounts
for the period from 1 November 2021 to 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% per annum of net book value
Fixtures and fittings 20% per annum of net book value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery Fixtures & fittings Total
£ £ £ £
Cost
At 1 November 2021 854,194 11,769 2,436 868,399
Additions - 600 - 600
Disposals (854,194) - - (854,194)
At 31 March 2023 - 12,369 2,436 14,805
Depreciation
At 1 November 2021 - 6,807 1,766 8,573
Charge for the period - 1,112 134 1,246
At 31 March 2023 - 7,919 1,900 9,819
Net book value
At 31 March 2023 - 4,450 536 4,986
At 31 October 2021 854,194 4,962 670 859,826
4 Debtors 2023 2021
£ £
Other debtors 342,702 -
5 Creditors: amounts falling due within one year 2023 2021
£ £
Bank loans and overdrafts 5,000 26,796
Trade creditors - 1,057
Accruals and deferred income 17,230 53,257
Taxation and social security costs 69,681 2,626
91,911 83,736
6 Creditors: amounts falling due after one year 2023 2021
£ £
Bank loans 15,276 461,540
Directors loans - 345,455
15,276 806,995
7 Other information
Oswestry Equestrian Centre Limited is a private company limited by shares and incorporated in England. Its registered office is:
Lincoln House
Hodge Bower
Ironbridge
Telford
TF8 7QG
Oswestry Equestrian Centre Limited 09783560 false 2021-11-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 R S Connell No description of principal activity 09783560 2020-11-01 2021-10-31 09783560 core:WithinOneYear 2021-10-31 09783560 core:AfterOneYear 2021-10-31 09783560 core:ShareCapital 2021-10-31 09783560 core:RetainedEarningsAccumulatedLosses 2021-10-31 09783560 2021-11-01 2023-03-31 09783560 bus:PrivateLimitedCompanyLtd 2021-11-01 2023-03-31 09783560 bus:AuditExemptWithAccountantsReport 2021-11-01 2023-03-31 09783560 bus:Director40 2021-11-01 2023-03-31 09783560 1 2021-11-01 2023-03-31 09783560 2 2021-11-01 2023-03-31 09783560 core:LandBuildings 2021-11-01 2023-03-31 09783560 core:PlantMachinery 2021-11-01 2023-03-31 09783560 core:Vehicles 2021-11-01 2023-03-31 09783560 countries:England 2021-11-01 2023-03-31 09783560 bus:FRS102 2021-11-01 2023-03-31 09783560 bus:FullAccounts 2021-11-01 2023-03-31 09783560 2023-03-31 09783560 core:WithinOneYear 2023-03-31 09783560 core:AfterOneYear 2023-03-31 09783560 core:ShareCapital 2023-03-31 09783560 core:RetainedEarningsAccumulatedLosses 2023-03-31 09783560 core:LandBuildings 2023-03-31 09783560 core:PlantMachinery 2023-03-31 09783560 core:Vehicles 2023-03-31 09783560 2021-10-31 09783560 core:LandBuildings 2021-10-31 09783560 core:PlantMachinery 2021-10-31 09783560 core:Vehicles 2021-10-31 iso4217:GBP xbrli:pure