Mildmay Equine Limited 10328143 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is that of purchasing thoroughbred horses for resale. Digita Accounts Production Advanced 6.30.9574.0 true 10328143 2023-02-01 2024-01-31 10328143 2024-01-31 10328143 bus:OrdinaryShareClass1 2024-01-31 10328143 bus:OrdinaryShareClass2 2024-01-31 10328143 bus:OrdinaryShareClass3 2024-01-31 10328143 core:CurrentFinancialInstruments 2024-01-31 10328143 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 10328143 bus:SmallEntities 2023-02-01 2024-01-31 10328143 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10328143 bus:FilletedAccounts 2023-02-01 2024-01-31 10328143 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10328143 bus:RegisteredOffice 2023-02-01 2024-01-31 10328143 bus:Director1 2023-02-01 2024-01-31 10328143 bus:Director2 2023-02-01 2024-01-31 10328143 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 10328143 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 10328143 bus:OrdinaryShareClass3 2023-02-01 2024-01-31 10328143 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10328143 countries:EnglandWales 2023-02-01 2024-01-31 10328143 2022-02-01 2023-01-31 10328143 2023-01-31 10328143 bus:OrdinaryShareClass1 2023-01-31 10328143 bus:OrdinaryShareClass2 2023-01-31 10328143 bus:OrdinaryShareClass3 2023-01-31 10328143 core:CurrentFinancialInstruments 2023-01-31 10328143 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10328143

Mildmay Equine Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2024

 

Mildmay Equine Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Mildmay Equine Limited

Company Information

Directors

Dr S B Drew

Mr NRR Drew

Registered office

Larksborough Farm
Newbury Road
Whitchurch
Hampshire
RG28 7PN

Accountants

David A Budgeon BA(Hons) FCCA
Chartered Certified Accountant
66 Milner Road
Caterham
Surrey
CR3 6JR

 

Mildmay Equine Limited

(Registration number: 10328143)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

-

2,024

Cash at bank and in hand

 

86,569

84,323

 

86,569

86,347

Creditors: Amounts falling due within one year

(40)

-

Total assets less current liabilities

 

86,529

86,347

Accruals and deferred income

 

(863)

(850)

Net assets

 

85,666

85,497

Capital and reserves

 

Called up share capital

5

227,503

227,503

Capital redemption reserve

24,828

24,828

Retained earnings

(166,665)

(166,834)

Shareholders' funds

 

85,666

85,497

For the financial year ending 31 January 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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.

 

Mildmay Equine Limited

(Registration number: 10328143)
Abridged Balance Sheet as at 31 January 2024

Approved and authorised by the Board on 23 October 2024 and signed on its behalf by:
 

.........................................

Dr S B Drew

Director

 

Mildmay Equine Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

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:
Larksborough Farm
Newbury Road
Whitchurch
Hampshire
RG28 7PN
England

These financial statements were authorised for issue by the Board on 23 October 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 abridged 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 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 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.

Tax

The tax expense for the period comprises current 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 income 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.

 

Mildmay Equine Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

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.

Stocks

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

The cost 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 3).

4

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

 

Mildmay Equine Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

3

3

3

3

Ordinary shares issues through EIS of £1 each

170,000

170,000

170,000

170,000

Ordinary shares issed through SEIS of £1 each

57,500

57,500

57,500

57,500

227,503

227,503

227,503

227,503

6

Related party transactions

During the year the company was invoiced £nil (2023: £711) for services provided by Covermarque Limited a company which Mr N R R Drew is a director and shareholder. At the year end, the company owed £nil (2023: £nil).

During the year the company was invoiced £nil (2023: £11,708) for services provided by Mildmay Farm & Stud Limited a company in which Dr S B Drew and Mr N R R Drew are both directors and shareholders. At the year end, the company owed £nil (2023: £nil), which is included within trade creditors.