REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
Equestrian Fencing and Timber Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
Equestrian Fencing and Timber Limited |
Equestrian Fencing and Timber Limited (Registered number: 09587971) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Equestrian Fencing and Timber Limited |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountancy & Taxation Advisers |
Bank Chambers |
Brook Street |
Bishops Waltham |
Hampshire |
SO32 1AX |
Equestrian Fencing and Timber Limited (Registered number: 09587971) |
Balance Sheet |
30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Equestrian Fencing and Timber Limited (Registered number: 09587971) |
Balance Sheet - continued |
30 June 2023 |
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 |
Equestrian Fencing and Timber Limited (Registered number: 09587971) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Equestrian Fencing and Timber Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
Tangible fixed assets |
Plant & machinery | - |
Fixtures & fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Creditors |
Short term creditors are measured at the transaction price. |
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. |
Equestrian Fencing and Timber Limited (Registered number: 09587971) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Employee benefits |
Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Short | Long | Plant & |
leasehold | leasehold | machinery |
£ | £ | £ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Equestrian Fencing and Timber Limited (Registered number: 09587971) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixtures | Motor | Computer |
& fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant & | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 July 2022 |
Transfer to ownership | - | (146,695 | ) | (146,695 | ) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Transfer to ownership | - | (91,342 | ) | (91,342 | ) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Equestrian Fencing and Timber Limited (Registered number: 09587971) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Hire purchase contracts |
Other creditors |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.23 | 30.6.22 |
£ | £ |
Other loans |
Hire purchase contracts | 60,103 | 105,937 |
The other loans are secured by a Government backed guarantee, under the coronavirus business interruption loan scheme. |
The hire purchase liabilities are guaranteed against the assets purchased. |
9. | PROVISIONS FOR LIABILITIES |
30.6.23 | 30.6.22 |
£ | £ |
Deferred tax | 38,388 | 50,728 |
Deferred |
tax |
£ |
Balance at 1 July 2022 |
Movement in accelerated |
capital allowances | (12,340 | ) |
Balance at 30 June 2023 |
Equestrian Fencing and Timber Limited (Registered number: 09587971) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.23 | 30.6.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022: |
30.6.23 | 30.6.22 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |