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Registration number: 13033227

Willswood Equine Ltd

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Period from 1 December 2022 to 31 March 2024

 

Willswood Equine Ltd

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

Willswood Equine Ltd

(Registration number: 13033227)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

20,691

28,214

Current assets

 

Debtors

7,863

5,597

Cash at bank and in hand

 

255,922

138,716

 

263,785

144,313

Creditors: Amounts falling due within one year

(92,855)

(53,398)

Net current assets

 

170,930

90,915

Total assets less current liabilities

 

191,621

119,129

Provisions for liabilities

(4,420)

(7,477)

Net assets

 

187,201

111,652

Capital and reserves

 

Called up share capital

300

300

Profit and loss account

186,901

111,352

Total equity

 

187,201

111,652

For the financial period 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 members have not required the company to obtain an audit of its accounts for the period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

Mrs Karen Dhumale
Director

Mrs Tracey Northcott
Director

 
     
 

Willswood Equine Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 1 December 2022 to 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:
358 Woodlands Road
Woodlands
Southampton
Hampshire
SO40 7GA

The principal place of business is:
Willswood Farm
Woodlands
Southampton
Hampshire
SO40 7GA

These financial statements were authorised for issue by the Board on 29 November 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 and deferred 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 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 temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements, and on unused tax losses or tax credits in the company. Deferred income 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 on current or future taxable profit.


 

Willswood Equine Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 1 December 2022 to 31 March 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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 cost 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

20% reducing balance

Stocks

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

The costs 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 stocks 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2022 - 3).

4

Tangible assets

Total
£

Cost or valuation

At 1 December 2022

39,827

At 31 March 2024

39,827

Depreciation

At 1 December 2022

11,612

Charge for the year

7,524

At 31 March 2024

19,136

Carrying amount

At 31 March 2024

20,691

At 30 November 2022

28,214