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Torres Strait Bloodstock Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Bencroft Dassels
Braughing
Ware
Herts
SG11 2RW
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 11214645
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 168,976 199,950
Debtors 5 5,916 9,144
Cash at bank and in hand 118,575 4,954
293,467 214,048
Creditors: Amounts Falling Due Within One Year 6 (73,397 ) (53,703 )
NET CURRENT ASSETS (LIABILITIES) 220,070 160,345
TOTAL ASSETS LESS CURRENT LIABILITIES 220,070 160,345
Creditors: Amounts Falling Due After More Than One Year 7 (13,333 ) (15,333 )
NET ASSETS 206,737 145,012
CAPITAL AND RESERVES
Called up share capital 8 230,000 230,000
Income Statement (23,263 ) (84,988 )
SHAREHOLDERS' FUNDS 206,737 145,012
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Income Statement.
On behalf of the board
Mark Peter Edwards
Director
Eamonn Martin O'Connor
Director
29/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Torres Strait Bloodstock Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11214645 . The registered office is Beech House, Four Turnings, Feock, Truro, Cornwall, TR3 6QR.
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.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Stocks
2024 2023
£ £
Stock 168,976 199,950
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 809 -
Prepayments and accrued income 5,107 4,821
VAT - 4,323
5,916 9,144
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 402
Bank loans and overdrafts 4,000 4,000
VAT 17,082 -
Other creditors 48,940 45,075
Accruals and deferred income 3,374 4,226
73,397 53,703
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,333 15,333
13,333 15,333
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 230,000 230,000
Page 4