Company registration number 04959794 (England and Wales)
BLAZING SADDLES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BLAZING SADDLES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BLAZING SADDLES LIMITED
BALANCE SHEET
AS AT
30 MARCH 2024
30 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
150
343
Current assets
Stocks
93,227
141,523
Debtors
5
2,203
5,847
Cash at bank and in hand
6,591
308
102,021
147,678
Creditors: amounts falling due within one year
6
(104,709)
(155,305)
Net current liabilities
(2,688)
(7,627)
Total assets less current liabilities
(2,538)
(7,284)
Creditors: amounts falling due after more than one year
7
(14,234)
(15,442)
Net liabilities
(16,772)
(22,726)
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
(16,774)
(22,728)
Total equity
(16,772)
(22,726)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BLAZING SADDLES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 MARCH 2024
30 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 November 2024 and are signed on its behalf by:
Mr J Ainscough
Director
Company registration number 04959794 (England and Wales)
BLAZING SADDLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
- 3 -
1
Accounting policies
Company information
Blazing Saddles Limited is a private company limited by shares incorporated in England and Wales. The registered office is 35 West End, Hebden Bridge, West Yorkshire, HX7 8UQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The directors are not aware of any material uncertainties affecting the company and consider that the company will have sufficient resources to continue trading for the foreseeable future. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.true
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT.
1.4
Intangible fixed assets - goodwill
Acquired goodwill has been written off in equal annual instalments over its estimated useful economic life of ten years.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% straight line basis
Fixtures, fittings & equipment
15% straight line basis
Computer equipment
20% straight line basis
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
BLAZING SADDLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
5
3
Intangible fixed assets
Goodwill
£
Cost
At 31 March 2023 and 30 March 2024
50,000
Amortisation and impairment
At 31 March 2023 and 30 March 2024
50,000
Carrying amount
At 30 March 2024
At 30 March 2023
BLAZING SADDLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 March 2023 and 30 March 2024
38,401
Depreciation and impairment
At 31 March 2023
38,058
Depreciation charged in the year
193
At 30 March 2024
38,251
Carrying amount
At 30 March 2024
150
At 30 March 2023
343
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
2,203
5,847
Other debtors comprise Directors' loan account £Nil (2023: £5,515) and prepayments of £2,203 (2023: £332).
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
18,887
19,619
Trade creditors
42,735
108,827
Taxation and social security
9,898
16,151
Other creditors
33,189
10,708
104,709
155,305
Other creditors comprise credit cards owing £10,172 (2023: £7,500), director's loan account balance of £20,283 (2023:Nil) accruals £1,936 (2023: £1,760), pension contributions payable £74 (2023: £564), and unpaid wages £724 (2023: £884).
BLAZING SADDLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,234
15,442
The bank loan is a government backed Bounce Back Loan, with £1,528 (2023: £1,528) repayable within one year, and £14,234 (2023: £15,442) repayable after one year.
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2