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Registration number: 03735413

Eastfield Stables Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Eastfield Stables Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Eastfield Stables Limited

Company Information

Directors

O A Burge

A D Miller

Registered office

The Courtyard Holt Lodge Farm
Horton
Wimborne
Dorset
BH21 7JN

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Eastfield Stables Limited

(Registration number: 03735413)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Stocks

5

2,326

2,292

Debtors

6

397

684

Cash at bank and in hand

 

13,726

14,735

 

16,449

17,711

Creditors: Amounts falling due within one year

7

(17,474)

(15,049)

Net (liabilities)/assets

 

(1,025)

2,662

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(1,125)

2,562

Shareholders' (deficit)/funds

 

(1,025)

2,662

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 September 2024 and signed on its behalf by:
 

.........................................
O A Burge
Director

 

Eastfield Stables Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales, Reg. No. 03735413.

The address of its registered office is:
The Courtyard Holt Lodge Farm
Horton
Wimborne
Dorset
BH21 7JN
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.

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

Going concern

The directors expect the company to be able to operate within its currently available bank facilities and utilising the support of the existing shareholders, believe these financial statements can be prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from livery sales and teaching. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Eastfield Stables Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Equipment

20% 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.

Trade debtors

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

Trade debtors are recognised at the transaction price.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

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.

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.

 

Eastfield Stables Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

1,352

1,352

At 31 March 2024

1,352

1,352

Depreciation

At 1 April 2023

1,352

1,352

At 31 March 2024

1,352

1,352

Carrying amount

At 31 March 2024

-

-

5

Stocks

2024
£

2023
£

Other inventories

2,326

2,292

6

Debtors

2024
£

2023
£

Prepayments

311

232

Other debtors

86

452

397

684

 

Eastfield Stables Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

124

121

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

14,823

10,442

Taxation and social security

 

984

703

Accruals and deferred income

 

1,225

3,465

Director loan account

 

318

318

 

17,474

15,049

8

Related party transactions

Loans from related parties

2024

Parent
£

Total
£

At start of period

10,442

10,442

Advanced

4,381

4,381

At end of period

14,823

14,823

2023

Parent
£

Total
£

At start of period

10,129

10,129

Advanced

313

313

At end of period

10,442

10,442

Terms of loans from related parties

The loan from the parent company is non interest and not repayable on demand
 

 

Eastfield Stables Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Parent and ultimate parent undertaking

The company's immediate parent is Marchmont Farms Limited, incorporated in England and Wales, Reg. No. 01760471.

  These financial statements are available upon request from The Courtyard
Holt Lodge Farm
Horton
Wimborne
Dorset
BH21 7JN