Brook Stud Bloodstock Limited 04431304 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is the breeding of thoroughbred horses. Digita Accounts Production Advanced 6.30.9574.0 true true 04431304 2023-06-01 2024-05-31 04431304 2024-05-31 04431304 bus:CompanySecretaryDirector1 1 2024-05-31 04431304 bus:Director2 1 2024-05-31 04431304 core:CurrentFinancialInstruments 2024-05-31 04431304 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 04431304 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 04431304 core:PlantMachinery 2024-05-31 04431304 bus:SmallEntities 2023-06-01 2024-05-31 04431304 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 04431304 bus:FilletedAccounts 2023-06-01 2024-05-31 04431304 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04431304 bus:RegisteredOffice 2023-06-01 2024-05-31 04431304 bus:CompanySecretaryDirector1 2023-06-01 2024-05-31 04431304 bus:CompanySecretaryDirector1 1 2023-06-01 2024-05-31 04431304 bus:Director2 2023-06-01 2024-05-31 04431304 bus:Director2 1 2023-06-01 2024-05-31 04431304 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04431304 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04431304 core:LeaseholdImprovements 2023-06-01 2024-05-31 04431304 core:MotorVehicles 2023-06-01 2024-05-31 04431304 core:OfficeEquipment 2023-06-01 2024-05-31 04431304 core:PlantMachinery 2023-06-01 2024-05-31 04431304 countries:EnglandWales 2023-06-01 2024-05-31 04431304 2023-05-31 04431304 bus:CompanySecretaryDirector1 1 2023-05-31 04431304 bus:Director2 1 2023-05-31 04431304 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 04431304 core:PlantMachinery 2023-05-31 04431304 2022-06-01 2023-05-31 04431304 2023-05-31 04431304 bus:CompanySecretaryDirector1 1 2023-05-31 04431304 bus:Director2 1 2023-05-31 04431304 core:CurrentFinancialInstruments 2023-05-31 04431304 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 04431304 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 04431304 core:PlantMachinery 2023-05-31 04431304 bus:CompanySecretaryDirector1 1 2022-06-01 2023-05-31 04431304 bus:Director2 1 2022-06-01 2023-05-31 04431304 bus:CompanySecretaryDirector1 1 2022-05-31 04431304 bus:Director2 1 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 04431304

Brook Stud Bloodstock Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Brook Stud Bloodstock Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Brook Stud Bloodstock Limited

(Registration number: 04431304)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

278,934

305,962

Current assets

 

Stocks

5

784,220

770,692

Debtors

6

96,048

130,374

Cash at bank and in hand

 

-

3,490

 

880,268

904,556

Creditors: Amounts falling due within one year

7

(872,740)

(815,633)

Net current assets

 

7,528

88,923

Total assets less current liabilities

 

286,462

394,885

Provisions for liabilities

(6,790)

(9,950)

Net assets

 

279,672

384,935

Capital and reserves

 

Called up share capital

100

100

Retained earnings

279,572

384,835

Shareholders' funds

 

279,672

384,935

 

Brook Stud Bloodstock Limited

(Registration number: 04431304)
Balance Sheet as at 31 May 2024

For the financial year ending 31 May 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.

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.

Approved and authorised by the Board on 6 January 2025 and signed on its behalf by:
 

.........................................
D G A E Woods
Company secretary and director

 

Brook Stud Bloodstock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
Brook Stud
Cheveley
Newmarket
Suffolk
CB8 9DG

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 in respect of bloodstock sales,
keep fees and recharged expenses made during the year. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

 

Brook Stud Bloodstock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Asset class

Depreciation method and rate

Leasehold improvements

5% reducing balance

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

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.

Debtors

Trade debtors are amounts due from customers for bloodstock sold, keep fees and expenses recharged in the ordinary course of business.

Bloodstock

Bloodstock is stated at the lower of cost and estimated selling price

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Brook Stud Bloodstock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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 11 (2023 - 10).

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2023

629,989

272,659

902,648

At 31 May 2024

629,989

272,659

902,648

Depreciation

At 1 June 2023

362,078

234,608

596,686

Charge for the year

13,396

13,632

27,028

At 31 May 2024

375,474

248,240

623,714

Carrying amount

At 31 May 2024

254,515

24,419

278,934

At 31 May 2023

267,911

38,051

305,962

Included within the net book value of land and buildings above is £254,515 (2023- £267,911) in respect of leasehold land and buildings.

5

Stocks

2024
£

2023
£

Bloodstock

784,220

770,692

6

Debtors

 

Brook Stud Bloodstock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Current

2024
£

2023
£

Trade debtors

87,561

98,894

Prepayments

8,487

31,480

 

96,048

130,374

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

97,979

94,521

Trade creditors

 

303,189

432,038

Taxation and social security

 

49,128

70,399

Other creditors

 

422,444

218,675

 

872,740

815,633

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

97,979

94,521

The bank overdraft facilities are secured by a fixed and floating charge over the company assets.

9

Related party transactions

Transactions with directors

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

At 31 May 2024
£

E W J Woods

Directors loan account

(91,254)

10,676

(110,123)

(190,701)

D G A E Woods

Directors loan account

(91,255)

10,676

(110,123)

(190,702)

 

Brook Stud Bloodstock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

E W J Woods

Directors loan account

(87,807)

37,701

(41,148)

(91,254)

D G A E Woods

Directors loan account

(87,808)

37,701

(41,148)

(91,255)