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Registration number: 13216094

Pro Ponies UK Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Pro Ponies UK Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

Pro Ponies UK Ltd

Company Information

Directors

Mr Greg Churcher

Mrs Angelina Churcher

Company secretary

Mrs Angelina Churcher

Registered office

Cold Harbour Road
Upper Dicker
East Sussex
BN27 3QJ

Accountants

Hogarth Business Services Ltd
65 Victoria Road
Polegate
East Sussex
BN26 6BY

 

Pro Ponies UK Ltd

Directors' Report for the Year Ended 29 February 2024

The directors present their report and the financial statements for the year ended 29 February 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Greg Churcher

Mrs Angelina Churcher - Company secretary and director

Principal activity

The principal activity of the company is Childrens Riding Clothing

Going concern

No Going Concern

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 22 July 2024 and signed on its behalf by:
 

.........................................
Mr Greg Churcher
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pro Ponies UK Ltd
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pro Ponies UK Ltd for the year ended 29 February 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Pro Ponies UK Ltd, as a body, in accordance with the terms of our engagement letter dated 9 November 2023. Our work has been undertaken solely to prepare for your approval the accounts of Pro Ponies UK Ltd and state those matters that we have agreed to state to the Board of Directors of Pro Ponies UK Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pro Ponies UK Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pro Ponies UK Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Pro Ponies UK Ltd. You consider that Pro Ponies UK Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Pro Ponies UK Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Hogarth Business Services Ltd
65 Victoria Road
Polegate
East Sussex
BN26 6BY

22 July 2024

 

Pro Ponies UK Ltd

Profit and Loss Account for the Year Ended 29 February 2024

Note

2024
£

2023
£

Turnover

 

27,428

17,468

Cost of sales

 

(34,475)

(25,858)

Gross loss

 

(7,047)

(8,390)

Administrative expenses

 

(15,742)

(6,086)

Operating loss

 

(22,789)

(14,476)

Loss before tax

(22,789)

(14,476)

Loss for the financial year

 

(22,789)

(14,476)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Pro Ponies UK Ltd

Statement of Comprehensive Income for the Year Ended 29 February 2024

2024
£

2023
£

Loss for the year

(22,789)

(14,476)

Total comprehensive income for the year

(22,789)

(14,476)

 

Pro Ponies UK Ltd

(Registration number: 13216094)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

30,000

10,000

Debtors

5

2,533

-

Cash at bank and in hand

 

885

271

 

33,418

10,271

Creditors: Amounts falling due within one year

6

(70,682)

(50,903)

Net liabilities

 

(37,264)

(40,632)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(37,265)

(40,633)

Shareholders' deficit

 

(37,264)

(40,632)

For the financial year ending 29 February 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.

Approved and authorised by the Board on 22 July 2024 and signed on its behalf by:
 

.........................................
Mrs Angelina Churcher
Company secretary and director

 

Pro Ponies UK Ltd

Statement of Changes in Equity for the Year Ended 29 February 2024

Share capital
£

Retained earnings
£

Total
£

At 1 March 2023

1

(14,476)

(14,475)

Loss for the year

-

(22,789)

(22,789)

At 29 February 2024

1

(37,265)

(37,264)

Share capital
£

Retained earnings
£

Total
£

At 1 March 2022

1

(26,157)

(26,156)

Loss for the year

-

(14,476)

(14,476)

At 28 February 2023

1

(40,633)

(40,632)

 

Pro Ponies UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Cold Harbour Road
Upper Dicker
East Sussex
BN27 3QJ
England

These financial statements were authorised for issue by the Board on 22 July 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).

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.

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.

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.

 

Pro Ponies UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 1 (2023 - 1).

4

Stocks

2024
£

2023
£

Other inventories

30,000

10,000

5

Debtors

 

Pro Ponies UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Current

2024
£

2023
£

Other debtors

2,533

-

 

2,533

-

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,675

900

Other creditors

69,007

50,003

70,682

50,903

7

Share capital

8

Transition to FRS 102

Balance Sheet at 1 March 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Pro Ponies UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Balance Sheet at 28 February 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Pro Ponies UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Profit and Loss Account for the year ended 28 February 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Turnover

-

-

-

-

Operating profit/(loss)

-

-

-

-

Profit/(loss) before tax

-

-

-

-

Profit/(loss) for the financial year

-

-

-

-