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REGISTERED NUMBER: 10435364 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

AT HORSES FAMILY ASSETS (UK) LIMITED

AT HORSES FAMILY ASSETS (UK) LIMITED (REGISTERED NUMBER: 10435364)






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


AT HORSES FAMILY ASSETS (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr A Tsang
Mr L Tsang





REGISTERED OFFICE: Eden House
Two Rivers Business Park
Witney
Oxfordshire
OX28 4BL





BUSINESS ADDRESS: Flat 16A Bellevue Heights
8 Tai Hang Drive
Jardines Lookout
Hong Kong





REGISTERED NUMBER: 10435364 (England and Wales)





ACCOUNTANTS: Bronsens
Chartered Certified Accountants
Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH

AT HORSES FAMILY ASSETS (UK) LIMITED (REGISTERED NUMBER: 10435364)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 103,034 126,809
Investment property 5 8,960,851 8,960,851
9,063,885 9,087,660

CURRENT ASSETS
Debtors 6 26,561 17,170
Cash at bank 97,351 190,087
123,912 207,257
CREDITORS
Amounts falling due within one year 7 137,727 73,920
NET CURRENT (LIABILITIES)/ASSETS (13,815 ) 133,337
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,050,070

9,220,997

CREDITORS
Amounts falling due after more than one
year

8

(9,101,752

)

(9,177,471

)

PROVISIONS FOR LIABILITIES 11 (17,984 ) (22,399 )
NET (LIABILITIES)/ASSETS (69,666 ) 21,127

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 (69,766 ) 21,027
SHAREHOLDERS' FUNDS (69,666 ) 21,127

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.

AT HORSES FAMILY ASSETS (UK) LIMITED (REGISTERED NUMBER: 10435364)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2024 and were signed on its behalf by:





Mr A Tsang - Director


AT HORSES FAMILY ASSETS (UK) LIMITED (REGISTERED NUMBER: 10435364)

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

1. STATUTORY INFORMATION

AT Horses Family Assets (UK) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis on the understanding that the company has received assurances of support from the director in that he has confirmed that he will not seek repayment of his directors loan in preference to other creditors.

Turnover
Turnover repesents rents receivable from investment property.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance and 20% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

AT HORSES FAMILY ASSETS (UK) LIMITED (REGISTERED NUMBER: 10435364)

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

2. ACCOUNTING POLICIES - continued

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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 33,511 123,944 1,366 158,821
Additions - - 1,864 1,864
At 31 December 2023 33,511 123,944 3,230 160,685
DEPRECIATION
At 1 January 2023 11,942 19,619 451 32,012
Charge for year 3,352 21,221 1,066 25,639
At 31 December 2023 15,294 40,840 1,517 57,651
NET BOOK VALUE
At 31 December 2023 18,217 83,104 1,713 103,034
At 31 December 2022 21,569 104,325 915 126,809

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 8,960,851
NET BOOK VALUE
At 31 December 2023 8,960,851
At 31 December 2022 8,960,851

The fair value of all investment property as at the balance sheet date is considered by the directors to be the same as cost.

AT HORSES FAMILY ASSETS (UK) LIMITED (REGISTERED NUMBER: 10435364)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 4,618 10,421
Other debtors 14,565 6,300
Prepayments 7,378 449
26,561 17,170

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 7,803 7,804
Trade creditors 6,263 2,530
Other creditors 6,053 1,431
Directors' current accounts 90,000 50,000
Rents received in advance 12,523 3,114
Accrued expenses 15,085 9,041
137,727 73,920

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 9) 3,945,640 3,945,640
Hire purchase contracts 63,118 70,718
Directors' loan accounts 5,092,994 5,161,113
9,101,752 9,177,471

9. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 883,140 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 3,062,500 3,945,640

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 3,945,640 3,945,640

Bank loans are secured by way of charges over the freehold properties in favour of Arbuthnot Latham & Co Limited.

AT HORSES FAMILY ASSETS (UK) LIMITED (REGISTERED NUMBER: 10435364)

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

11. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 17,984 22,399

Deferred
tax
£   
Balance at 1 January 2023 22,399
Credit to Income Statement during year (4,415 )
Balance at 31 December 2023 17,984

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 January 2023 21,027
Deficit for the year (90,793 )
At 31 December 2023 (69,766 )

14. ULTIMATE CONTROLLING PARTY

The controlling party is Steady Horse Limited.

The ultimate controlling party is Mr A Tsang.

The parent company is registered in the British Virgin Islands.