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Haylands Stud Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08490731
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Stocks 4 169,050 66,900
Debtors 5 - 3,351
Cash at bank and in hand 489 1,343
169,539 71,594
Creditors: Amounts Falling Due Within One Year 6 (197,640 ) (99,819 )
NET CURRENT ASSETS (LIABILITIES) (28,101 ) (28,225 )
TOTAL ASSETS LESS CURRENT LIABILITIES (28,101 ) (28,225 )
NET LIABILITIES (28,101 ) (28,225 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (28,201 ) (28,325 )
SHAREHOLDERS' FUNDS (28,101) (28,225)
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Claire Hester
Director
2 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Haylands Stud Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08490731 . The registered office is Greenfields Lime Street, Eldersfield, Gloucester, GL19 4NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
2.2. Going Concern Disclosure
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurances from the director that they will continue to give financial support to the company for twelve months from the date of signing the accounts.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Farm building 2% reducing balance
Plant & Machinery 12.5% Reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Stocks
2024 2023
£ £
Stock 169,050 66,900
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 3,351
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 221 -
Director's loan account 197,419 99,819
197,640 99,819
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4