Boughrood Harness Racing 5552876 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Harness Racing Digita Accounts Production Advanced 6.30.9574.0 true true 5552876 2023-01-01 2023-12-31 5552876 2023-12-31 5552876 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 5552876 core:FurnitureFittings 2023-12-31 5552876 bus:SmallEntities 2023-01-01 2023-12-31 5552876 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 5552876 bus:FilletedAccounts 2023-01-01 2023-12-31 5552876 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 5552876 bus:RegisteredOffice 2023-01-01 2023-12-31 5552876 bus:Chairman 2023-01-01 2023-12-31 5552876 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 5552876 bus:Director1 2023-01-01 2023-12-31 5552876 bus:Director3 2023-01-01 2023-12-31 5552876 bus:Director7 2023-01-01 2023-12-31 5552876 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 5552876 core:FurnitureFittings 2023-01-01 2023-12-31 5552876 countries:UnitedKingdom 2023-01-01 2023-12-31 5552876 2022-12-31 5552876 core:FurnitureFittings 2022-12-31 5552876 2022-01-01 2022-12-31 5552876 2022-12-31 5552876 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 5552876 core:FurnitureFittings 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 5552876

Boughrood Harness Racing

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Boughrood Harness Racing

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Boughrood Harness Racing

Company Information

Chairman

Mr D G Price

Directors

Mr M Bevan

Mr J Langford

Mr D J Price

Mr L W Price

Company secretary

Mr L W Price

Registered office

Kings Arms Vaults
The Watton
Brecon
Powys
LD3 7EF

Accountants

King Morter Proud & Co Ltd
Chartered Accountants
Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

 

Boughrood Harness Racing

(Registration number: 5552876)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

62

191

Current assets

 

Cash at bank and in hand

 

11,183

11,582

Creditors: Amounts falling due within one year

5

(13,518)

(13,926)

Net current liabilities

 

(2,335)

(2,344)

Net liabilities

 

(2,273)

(2,153)

Reserves

 

Retained earnings

(2,273)

(2,153)

Deficit

 

(2,273)

(2,153)

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.

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 10 September 2024 and signed on its behalf by:
 

.........................................
Mr D G Price
Chairman

 

Boughrood Harness Racing

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

1

General information

The company is a company limited by guarantee, incorporated in United Kingdom, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Kings Arms Vaults
The Watton
Brecon
Powys
LD3 7EF
United Kingdom

The principal place of business is:
Glanyrafon
Merthyr Cynog
Brecon
Powys
LD3 9SA

These financial statements were authorised for issue by the Board on 10 September 2024.

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).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

Going concern

The financial statements have been prepared on a going concern basis.

 

Boughrood Harness Racing

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

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.

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.

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

Fixtures and fittings

10% Straight line basis

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 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Boughrood Harness Racing

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

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 January 2023

1,288

1,288

At 31 December 2023

1,288

1,288

Depreciation

At 1 January 2023

1,097

1,097

Charge for the year

129

129

At 31 December 2023

1,226

1,226

Carrying amount

At 31 December 2023

62

62

At 31 December 2022

191

191

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

540

948

Other creditors

12,978

12,978

13,518

13,926

6

Members liability

The company has no share capital. Every member of the company undertakes to contribute to the assets of the company in the event of the same being wound up. Such amount as they may be required shall not exceed £1.