Owen Burrows Racing Limited 14544082 false 2022-12-15 2023-12-31 2023-12-31 The principal activity of the company is the training of thoroughbred racehorses. Digita Accounts Production Advanced 6.30.9574.0 true 14544082 2022-12-15 2023-12-31 14544082 2023-12-31 14544082 bus:Director1 1 2023-12-31 14544082 core:CurrentFinancialInstruments 2023-12-31 14544082 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14544082 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 14544082 bus:SmallEntities 2022-12-15 2023-12-31 14544082 bus:AuditExemptWithAccountantsReport 2022-12-15 2023-12-31 14544082 bus:FullAccounts 2022-12-15 2023-12-31 14544082 bus:SmallCompaniesRegimeForAccounts 2022-12-15 2023-12-31 14544082 bus:RegisteredOffice 2022-12-15 2023-12-31 14544082 bus:Director1 2022-12-15 2023-12-31 14544082 bus:Director1 1 2022-12-15 2023-12-31 14544082 bus:PrivateLimitedCompanyLtd 2022-12-15 2023-12-31 14544082 core:LandBuildings core:ShortLeaseholdAssets 2022-12-15 2023-12-31 14544082 core:LeaseholdImprovements 2022-12-15 2023-12-31 14544082 countries:EnglandWales 2022-12-15 2023-12-31 14544082 bus:Director1 1 2022-12-14 iso4217:GBP xbrli:pure

Registration number: 14544082

Owen Burrows Racing Limited

Unaudited Filleted Financial Statements

for the Period from 15 December 2022 to 31 December 2023

 

Owen Burrows Racing Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Owen Burrows Racing Limited

(Registration number: 14544082)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

19,953

Current assets

 

Debtors

5

135,493

Cash at bank and in hand

 

37,549

 

173,042

Creditors: Amounts falling due within one year

6

(136,813)

Net current assets

 

36,229

Net assets

 

56,182

Capital and reserves

 

Called up share capital

100

Retained earnings

56,082

Shareholders' funds

 

56,182

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 September 2024
 

.........................................
Mr OJ Burrows
Director

 

Owen Burrows Racing Limited

Notes to the Unaudited Financial Statements for the Period from 15 December 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold Improvements

10% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Owen Burrows Racing Limited

Notes to the Unaudited Financial Statements for the Period from 15 December 2022 to 31 December 2023

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 14.

 

Owen Burrows Racing Limited

Notes to the Unaudited Financial Statements for the Period from 15 December 2022 to 31 December 2023

4

Tangible assets

Tenant's improvements to
Short leasehold land and buildings
£

Total
£

Cost or valuation

Additions

20,676

20,676

At 31 December 2023

20,676

20,676

Depreciation

Charge for the period

723

723

At 31 December 2023

723

723

Carrying amount

At 31 December 2023

19,953

19,953

Included within the net book value of land and buildings above is £19,953 in respect of short leasehold land and buildings.
 

5

Debtors

Current

2023
£

Trade debtors

131,325

Prepayments

4,168

 

135,493

 

Owen Burrows Racing Limited

Notes to the Unaudited Financial Statements for the Period from 15 December 2022 to 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

50,945

Taxation and social security

69,679

Other creditors

16,189

136,813

7

Related party transactions

Transactions with the director

2023

At 15 December 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr OJ Burrows

-

6,668

(7,657)

(989)