Everard Bloodstock Limited 13378201 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is raising of horses and other equines. Digita Accounts Production Advanced 6.30.9574.0 true 13378201 2023-06-01 2024-05-31 13378201 2024-05-31 13378201 bus:OrdinaryShareClass1 2024-05-31 13378201 core:CurrentFinancialInstruments 2024-05-31 13378201 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 13378201 core:ConstructionInProgressAssetsUnderConstruction 2024-05-31 13378201 core:OtherPropertyPlantEquipment 2024-05-31 13378201 bus:SmallEntities 2023-06-01 2024-05-31 13378201 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 13378201 bus:FilletedAccounts 2023-06-01 2024-05-31 13378201 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 13378201 bus:RegisteredOffice 2023-06-01 2024-05-31 13378201 bus:Director1 2023-06-01 2024-05-31 13378201 bus:Director2 2023-06-01 2024-05-31 13378201 bus:Director3 2023-06-01 2024-05-31 13378201 bus:Director4 2023-06-01 2024-05-31 13378201 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 13378201 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13378201 bus:Agent1 2023-06-01 2024-05-31 13378201 core:ConstructionInProgressAssetsUnderConstruction 2023-06-01 2024-05-31 13378201 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 13378201 core:PlantMachinery 2023-06-01 2024-05-31 13378201 countries:AllCountries 2023-06-01 2024-05-31 13378201 2023-05-31 13378201 core:ConstructionInProgressAssetsUnderConstruction 2023-05-31 13378201 2022-06-01 2023-05-31 13378201 2023-05-31 13378201 bus:OrdinaryShareClass1 2023-05-31 13378201 core:CurrentFinancialInstruments 2023-05-31 13378201 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 13378201 core:ConstructionInProgressAssetsUnderConstruction 2023-05-31 13378201 core:OtherPropertyPlantEquipment 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registrar

Registration number: 13378201

Everard Bloodstock Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Everard Bloodstock Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Everard Bloodstock Limited

Company Information

Directors

S M Everard

D S Everard

N J Everard

M J Everard

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

National Westminster Bank
47 High Street
Braintree
Essex
CM7 1JT

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Everard Bloodstock Limited

(Registration number: 13378201)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

45,000

24,500

Biological assets

5

20,000

16,342

 

65,000

40,842

Current assets

 

Debtors

6

4,565

3,073

Cash at bank and in hand

 

-

316

 

4,565

3,389

Creditors: Amounts falling due within one year

7

(180,464)

(121,401)

Net current liabilities

 

(175,899)

(118,012)

Total assets less current liabilities

 

(110,899)

(77,170)

Provisions for liabilities

-

(4,655)

Net liabilities

 

(110,899)

(81,825)

Capital and reserves

 

Called up share capital

8

100

100

Revaluation reserve

48,450

21,345

Retained earnings

(159,449)

(103,270)

Shareholders' deficit

 

(110,899)

(81,825)

For the financial year ended 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 14 January 2025 and signed on its behalf by:
 

S M Everard
Director

 

Everard 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 & Wales.

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, England.

The principal place of business is: White Haze, Sunset Lane, West Chiltington, Pulborough, West Sussex, RH20 2NY.

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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of equines and race winnings in the ordinary course of the company’s activities. Turnover is shown net of 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

Current Tax is recognised in the profit and loss account, 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.

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 tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position under the revaluation model, less any subsequent accumulated depreciation or impairment.

Depreciation

Depreciation is charged so as to write off the cost or valuation, less any estimated residual value, over their expected useful lives, as follows:

Asset class

Depreciation method and rate

Race horses

10% Straight Line Method

 

Everard Bloodstock Limited

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

Biological assets

Biological assets are carried at fair value, derived from the current market prices for comparable equines determined annually by external valuers or the directors opinion. Both the valuers and the directors use observable market prices, adjusted if necessary for any difference in the nature or condition of the specific asset. Changes in fair value are recognised in profit or loss. Mothering costs are included within biological assets up until the point the foal is born.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade creditors

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

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.

Share capital

Ordinary shares are classified as equity.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Everard Bloodstock Limited

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

4

Tangible assets

Race horses
£

Total
£

Cost or valuation

At 1 June 2023

24,500

24,500

Revaluation

25,500

25,500

Disposals

(5,000)

(5,000)

At 31 May 2024

45,000

45,000

Depreciation

Charge for the year

2,117

2,117

Eliminated on disposal

(167)

(167)

Revaluation

(1,950)

(1,950)

At 31 May 2024

-

-

Carrying amount

At 31 May 2024

45,000

45,000

At 31 May 2023

24,500

24,500

Revaluation

The fair value of the company's race horses was revalued on 31 May 2024. An independent valuer was not involved.
Race horses are carried at market value, derived from the directors knowledge of the racing industry and revaluations are undertaken annually.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £24,229 (2023 - £20,646).

5

Biological assets

Broodmares
£

At 1 June 2023

16,342

Additions

11,004

Fair value adjustments

(7,346)

At 31 May 2024

20,000

There has been no valuation of biological assets by an independent valuer.

6

Debtors

2024
£

2023
£

Other debtors

4,565

3,073

4,565

3,073

 

Everard Bloodstock Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

18

-

Trade creditors

 

13,898

5,273

Other creditors

 

164,016

114,177

Accruals and deferred income

 

2,532

1,951

 

180,464

121,401

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

18

-