Pendarves Equestrian Centre Limited 10162395 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the operation of an equestrian and training centre. Digita Accounts Production Advanced 6.30.9574.0 true true 10162395 2023-04-01 2024-03-31 10162395 2024-03-31 10162395 bus:OrdinaryShareClass1 2024-03-31 10162395 core:RetainedEarningsAccumulatedLosses 2024-03-31 10162395 core:ShareCapital 2024-03-31 10162395 core:CurrentFinancialInstruments 2024-03-31 10162395 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10162395 core:ConstructionInProgressAssetsUnderConstruction 2024-03-31 10162395 core:FurnitureFittingsToolsEquipment 2024-03-31 10162395 core:OtherPropertyPlantEquipment 2024-03-31 10162395 bus:SmallEntities 2023-04-01 2024-03-31 10162395 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10162395 bus:FullAccounts 2023-04-01 2024-03-31 10162395 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10162395 bus:RegisteredOffice 2023-04-01 2024-03-31 10162395 bus:Director1 2023-04-01 2024-03-31 10162395 bus:Director2 2023-04-01 2024-03-31 10162395 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10162395 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10162395 core:ConstructionInProgressAssetsUnderConstruction 2023-04-01 2024-03-31 10162395 core:FurnitureFittings 2023-04-01 2024-03-31 10162395 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 10162395 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 10162395 core:PlantMachinery 2023-04-01 2024-03-31 10162395 countries:EnglandWales 2023-04-01 2024-03-31 10162395 2023-03-31 10162395 core:ConstructionInProgressAssetsUnderConstruction 2023-03-31 10162395 core:FurnitureFittingsToolsEquipment 2023-03-31 10162395 core:OtherPropertyPlantEquipment 2023-03-31 10162395 2022-04-01 2023-03-31 10162395 2023-03-31 10162395 bus:OrdinaryShareClass1 2023-03-31 10162395 core:RetainedEarningsAccumulatedLosses 2023-03-31 10162395 core:ShareCapital 2023-03-31 10162395 core:CurrentFinancialInstruments 2023-03-31 10162395 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10162395 core:ConstructionInProgressAssetsUnderConstruction 2023-03-31 10162395 core:FurnitureFittingsToolsEquipment 2023-03-31 10162395 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Pendarves Equestrian Centre Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2024

Registration number: 10162395

 

Pendarves Equestrian Centre Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Pendarves Equestrian Centre Limited

Balance Sheet

31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

32,566

13,386

Current assets

 

Debtors

5

-

1,200

Cash at bank and in hand

 

15,763

18,592

 

15,763

19,792

Creditors: Amounts falling due within one year

6

(19,392)

(14,176)

Net current (liabilities)/assets

 

(3,629)

5,616

Total assets less current liabilities

 

28,937

19,002

Provisions for liabilities

(2,934)

(2,544)

Net assets

 

26,003

16,458

Capital and reserves

 

Called up share capital

7

1,000

1,000

Profit and loss account

25,003

15,458

Shareholders' funds

 

26,003

16,458

For the financial 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.

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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:
 

.........................................
R E Weedon
Director

.........................................
S A Weedon
Director

 
     

Company Registration Number: 10162395

 

Pendarves Equestrian Centre Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 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:
Pendarves North Lodge
Pendarves Road
Camborne
Cornwall
TR14 0RT

The principal place of business is:
Pendarves Events Centre
Killivose
Near Camborne
Cornwall
TR14 9LQ

These financial statements were authorised for issue by the Board on 9 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in pounds sterling which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest pound.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

At the balance sheet date the company has net current liabilites of £1,106 (2023 - £5,616 net current assets)

The company continues to apply the going concern assertion in the preparation of its financial statements due to the continued support of the directors.

 

Pendarves Equestrian Centre Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2024

Revenue recognition

Turnover represents the consideration received, net of discounts, for the provision of equestrian facilities and associated services.

Turnover is recognised at the point when the event occurs, with any amounts received in advance of the use of facilities shown as deferred income in the financial statements.

Government grants

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

Grants of a revenue nature are credited to income on an accruals basis.

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 corporation 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.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 depreciable value of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Straight line over 10 years

Fixtures and fittings

Straight line over 5 years

Biological assets

Not depreciated

 

Pendarves Equestrian Centre Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2024

Financial instruments

The company holds the following financial instruments:

• Short term creditor balances, and
• Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
 

Critical judgements and estimation uncertainty

In applying the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

3

Staff numbers

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

 

Pendarves Equestrian Centre Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
 £

Biological assets
 £

Plant and Machinery
£

Total
£

Cost or valuation

At 1 April 2023

47,395

-

1,000

48,395

Additions

5,019

20,000

-

25,019

At 31 March 2024

52,414

20,000

1,000

73,414

Depreciation

At 1 April 2023

35,009

-

-

35,009

Charge for the year

5,839

-

-

5,839

At 31 March 2024

40,848

-

-

40,848

Carrying amount

At 31 March 2024

11,566

20,000

1,000

32,566

At 31 March 2023

12,386

-

1,000

13,386

5

Debtors

2024
 £

2023
 £

Prepayments

-

1,200

-

1,200

6

Creditors

Creditors: amounts falling due within one year

2024
 £

2023
 £

Due within one year

Other creditors

16,036

12,436

Accrued expenses

832

780

Corporation tax

2,524

960

19,392

14,176

 

Pendarves Equestrian Centre Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The company is a lessee of the premises from which it operates.

The total amount of financial commitments not included in the balance sheet is £2,800 (2023 - £7,600).