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Registered number: 12867933
PM Stables Ltd
Unaudited Financial Statements
For the Period 1 October 2022 to 30 November 2023
Godfrey Wilson Limited
Fifth Floor Mariner House
62 Prince Street
Bristol
BS1 4QD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12867933
30 November 2023 30 September 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 926,855 896,383
926,855 896,383
CURRENT ASSETS
Cash at bank and in hand 2,268 -
2,268 -
Creditors: Amounts Falling Due Within One Year 5 (4,515 ) (26,160 )
NET CURRENT ASSETS (LIABILITIES) (2,247 ) (26,160 )
TOTAL ASSETS LESS CURRENT LIABILITIES 924,608 870,223
Creditors: Amounts Falling Due After More Than One Year 6 (1,143,365 ) (1,050,475 )
NET LIABILITIES (218,757 ) (180,252 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (218,758 ) (180,253 )
SHAREHOLDERS' FUNDS (218,757) (180,252)
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Page 2
For the period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Jenny Hunter
Director
23/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PM Stables Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12867933 . The registered office is Fifth Floor Mariner House, 62 Prince Street, Bristol, BS1 4QD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 4 years straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL (2022: NIL)
- -
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4. Tangible Assets
Investment Properties Plant & Machinery Total
£ £ £
Cost
As at 1 October 2022 896,383 - 896,383
Additions 20,364 13,480 33,844
As at 30 November 2023 916,747 13,480 930,227
Depreciation
As at 1 October 2022 - - -
Provided during the period - 3,372 3,372
As at 30 November 2023 - 3,372 3,372
Net Book Value
As at 30 November 2023 916,747 10,108 926,855
As at 1 October 2022 896,383 - 896,383
5. Creditors: Amounts Falling Due Within One Year
30 November 2023 30 September 2022
£ £
Bank loans and overdrafts - 39
Deferred income 450 -
Accruals 3,960 3,660
Director's loan account 105 22,461
4,515 26,160
6. Creditors: Amounts Falling Due After More Than One Year
30 November 2023 30 September 2022
£ £
Bank loans 470,427 470,455
Amounts owed to parent undertaking 672,938 580,020
1,143,365 1,050,475
Bank loans comprise of a mortgage secured on the investment properties. It is an interest only mortgage, repayable in ten years. Interest is charged at 4.84%.
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7. Share Capital
30 November 2023 30 September 2022
£ £
Allotted, Called up and fully paid 1 1
8. Related Party Transactions
The company is owned 100% by The League of Adventurists International Ltd (company number 05995303). The company has an unsecured loan with The League of Adventurists International Ltd of £672,741 (2022: £576,682), payable after one year. Interest of £13,191 (2022: £11,985) was charged on this loan during the year. The company also charged The League of Adventurists International £7,000 (2022: £nil) for rental of storage space.
The company has an unsecured, interest free loan with Hunter Morgan Intergalactic Ltd (company number 12107205) of £197 (2022: £3,338). This company is also under the control of the directors.
The company also charged £7,000 (2022: £nil) to The Equestrianists Ltd (company number 12195780) for rental of storage space. The company is also under the control of the directors.
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