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Registration number: 11667455

Berkshire Equine Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Berkshire Equine Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 4

 

Berkshire Equine Limited

(Registration number: 11667455)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

164,253

136,772

Current assets

 

Stocks

61,788

49,239

Debtors

427,884

360,197

Cash at bank and in hand

 

502,079

348,247

 

991,751

757,683

Creditors: Amounts falling due within one year

(263,929)

(243,903)

Net current assets

 

727,822

513,780

Total assets less current liabilities

 

892,075

650,552

Provisions for liabilities

(40,066)

(33,803)

Net assets

 

852,009

616,749

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

852,007

616,747

Total equity

 

852,009

616,749

For the financial year ending 31 December 2023 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 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 and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

Mr M H Hillyer

Company secretary and director

Mr D Dugdale

Director

 

Berkshire Equine Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 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:
Newmarket Equine Hospital
Cambridge Road
Newmarket
Suffolk
CB8 0FG

The principal place of business is:
Headley Stud
Headley
Hampshire
RG19 8LB

These financial statements were authorised for issue by the Board on 18 September 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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 represents the amounts, excluding value added tax, derived from the provision of goods and services
to customers during the year.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Berkshire Equine Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Veterinary equipment

6 years straight line

Fixtures and fittings

15% reducing balance

Computer equipment

5 years straight line

Motor vehicles

25% reducing balance

Stocks

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 7).

4

Tangible assets

Total
£

Cost or valuation

At 1 January 2023

216,232

Additions

71,682

At 31 December 2023

287,914

Depreciation

At 1 January 2023

79,460

Charge for the year

44,201

At 31 December 2023

123,661

Carrying amount

At 31 December 2023

164,253

At 31 December 2022

136,772

 

Berkshire Equine Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

5

Related party transactions

Summary of transactions with other related parties

Newmarket Equine Hospital
(of which all directors are partners)

As at 31 December 2023 Berkshire Equine Limited owed £17,120 (2022 - £12,525) to Newmarket Equine
Hospital. This amount is included in other creditors. There are no fixed repayment terms and no interest is
charged.

 
Newmarket Equine Clinic Limited
(of which all directors are directors and shareholders)

As at 31 December 2023 Berkshire Equine Limited was owed £2,865 (2022 - £509) from Newmarket Equine
Clinic Limited. This amount is included in other debtors. There are no fixed repayment terms and no interest is
charged.

 

6

Non adjusting events after the financial period

Following the sub-division and allotment of shares during the year ended 31 December 2023, on 12 April 2024 there was a share for share exchange to transfer the share ownership to Newmarket Equine Clinic Holdings Limited. As a result of this a group structure has been introduced with Newmarket Equine Clinic Holdings Limited owning 100% of the share capital in Berkshire Equine Limited.