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REGISTERED NUMBER: 04571471 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

REDPOST EQUESTRIAN LTD

REDPOST EQUESTRIAN LTD (REGISTERED NUMBER: 04571471)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REDPOST EQUESTRIAN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr R J Tuff
Mrs L Tuff
Mr B D J Tuff





REGISTERED OFFICE: Lillisford Stud
Redpost Littlehempston
Totnes
Devon
TQ9 6NG





REGISTERED NUMBER: 04571471 (England and Wales)





ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND

REDPOST EQUESTRIAN LTD (REGISTERED NUMBER: 04571471)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 453,851 468,728
453,851 468,728

CURRENT ASSETS
Stocks 6 2,321,722 2,478,603
Debtors 7 25,618 20,264
Cash at bank and in hand 839,075 510,585
3,186,415 3,009,452
CREDITORS
Amounts falling due within one year 8 1,578,631 1,518,935
NET CURRENT ASSETS 1,607,784 1,490,517
TOTAL ASSETS LESS CURRENT LIABILITIES 2,061,635 1,959,245

CREDITORS
Amounts falling due after more than one
year

9

(193,501

)

(233,202

)

PROVISIONS FOR LIABILITIES (34,182 ) (28,631 )
NET ASSETS 1,833,952 1,697,412

CAPITAL AND RESERVES
Called up share capital 880 1,000
Capital redemption reserve (149,880 ) -
Retained earnings 1,982,952 1,696,412
SHAREHOLDERS' FUNDS 1,833,952 1,697,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

REDPOST EQUESTRIAN LTD (REGISTERED NUMBER: 04571471)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2024 and were signed on its behalf by:




Mrs L Tuff - Director Mr R J Tuff - Director




Mr B D J Tuff - Director


REDPOST EQUESTRIAN LTD (REGISTERED NUMBER: 04571471)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Redpost Equestrian Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over the life of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

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 Statement of Income and Retained Earnings, 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.


REDPOST EQUESTRIAN LTD (REGISTERED NUMBER: 04571471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2022 - 48 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill Website Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 20,000 1,895 21,895
AMORTISATION
At 1 January 2023
and 31 December 2023 20,000 1,895 21,895
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - - -

REDPOST EQUESTRIAN LTD (REGISTERED NUMBER: 04571471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 372,239 144,067 119,745
Additions 14,558 9,027 4,143
Disposals - (696 ) -
At 31 December 2023 386,797 152,398 123,888
DEPRECIATION
At 1 January 2023 54,203 68,412 47,445
Charge for year 15,472 16,865 11,466
Eliminated on disposal - (339 ) -
At 31 December 2023 69,675 84,938 58,911
NET BOOK VALUE
At 31 December 2023 317,122 67,460 64,977
At 31 December 2022 318,036 75,655 72,300

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 13,950 17,804 667,805
Additions - 3,290 31,018
Disposals - - (696 )
At 31 December 2023 13,950 21,094 698,127
DEPRECIATION
At 1 January 2023 13,950 15,067 199,077
Charge for year - 1,735 45,538
Eliminated on disposal - - (339 )
At 31 December 2023 13,950 16,802 244,276
NET BOOK VALUE
At 31 December 2023 - 4,292 453,851
At 31 December 2022 - 2,737 468,728

6. STOCKS
2023 2022
£    £   
Stocks 2,321,722 2,478,603

REDPOST EQUESTRIAN LTD (REGISTERED NUMBER: 04571471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,441 15,746
Prepayments 7,177 4,518
25,618 20,264

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 38,491 36,062
Trade creditors 661,658 608,945
Tax 151,105 170,582
Social security and other taxes 31,329 21,677
VAT 208,359 205,649
Other creditors 1,129 11,389
American Express credit card 94,963 99,513
Voucher account 46,536 33,855
Loyalty points 145,186 139,860
Directors' current accounts 106,853 63,769
Deposits in advance 70,410 113,366
Accrued expenses 22,612 14,268
1,578,631 1,518,935

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 128,133 233,202
Bank loans more 5 yr by instal 65,368 -
193,501 233,202

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 65,368 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 231,992 269,264

REDPOST EQUESTRIAN LTD (REGISTERED NUMBER: 04571471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mrs L Tuff and Mr R J Tuff
Balance outstanding at start of year (33,675 ) (258,717 )
Amounts advanced 190,130 474,451
Amounts repaid (251,000 ) (249,409 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (94,545 ) (33,675 )

Mr B D J Tuff
Balance outstanding at start of year (30,093 ) (47,660 )
Amounts advanced 118,786 38,167
Amounts repaid (101,000 ) (20,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12,307 ) (30,093 )

Loans are unsecured, interest free and repayable on demand.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £147,000 (2022 - £69,600) were paid to the directors .

13. GOVERNMENT GUARANTEED LOAN

The bank loan of £24,167 (2022: £34,167) is a COVID-19 Bounce Back loan, guaranteed by the Government, term runs to May 2026.