SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Company Registration Number:
SC699703 (Scotland)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Company Information

for the Period Ended 31 May 2024




Director: Stephen P McCluskey
Registered office: Earnock Cottage
Woodfoot Road
Hamilton
GB-SCT
ML3 8LW
Company Registration Number: SC699703 (Scotland)

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Directors' Report Period Ended 31 May 2024

The directors present their report with the financial statements of the company for the period ended 31 May 2024

Principal Activities

During our third full year trading, both the racing and breeding stock numbers improved significantly, with home bred stock added to, by the supplementation of new broodmares, foals, yearlings and fillies.

Directors

The directors shown below have held office during the whole of the period from 01 June 2023 to 31 May 2024
Stephen P McCluskey

This report was approved by the board of directors on 17 January 2025
And Signed On Behalf Of The Board By:

Name: Stephen P McCluskey
Status: Director

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Profit and Loss Account

for the Period Ended 31 May 2024


Notes

2024
£

2023
£
Turnover 982,844 697,289
Cost of sales ( 1,094,903 ) ( 839,069 )
Gross Profit or (Loss) ( 112,059 ) ( 141,780 )
Distribution Costs ( 9,480 ) ( 8,442 )
Administrative Expenses ( 7,413 ) ( 6,740 )
Other operating income 54,180 -
Operating Profit or (Loss) ( 74,772 ) ( 156,962 )
Interest Payable and Similar Charges ( 1,862 ) ( 144 )
Profit or (Loss) Before Tax ( 76,634 ) ( 157,106 )
Tax on Profit ( 0 ) ( 0 )
Profit or (Loss) for Period ( 76,634 ) ( 157,106 )

The notes form part of these financial statements

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Balance sheet

As at 31 May 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 887,227 489,022
Total fixed assets: 887,227 489,022
Current assets
Stocks: 24,156 18,140
Debtors: 5 64,782 34,184
Cash at bank and in hand: 56,780 48,762
Total current assets: 145,718 101,086
Creditors: amounts falling due within one year: 6 ( 44,668 ) ( 32,154 )
Net current assets (liabilities): 101,050 68,932
Total assets less current liabilities: 988,277 557,954
Creditors: amounts falling due after more than one year: 7 ( 0 ) ( 0 )
Total net assets (liabilities): 988,277 557,954

The notes form part of these financial statements

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Balance sheet continued

As at 31 May 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Revaluation reserve: 8 988,177 557,854
Shareholders funds: 988,277 557,954

For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 17 January 2025
And Signed On Behalf Of The Board By:

Name: Stephen P McCluskey
Status: Director

The notes form part of these financial statements

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 0 0

    No direct employees were required during this period.

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 3. Off balance sheet disclosure

    No

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Tangible assets

Land & buildings Total
Cost £ £
At 01 June 2023 489,022 489,022
Additions 286,560 286,560
Disposals ( 45,780 ) ( 45,780 )
Revaluations 157,425 157,425
Transfers 0 0
At 31 May 2024 887,227 887,227
Depreciation
At 01 June 2023 0 0
Charge for year 0 0
On disposals ( 0 ) ( 0 )
Other adjustments 0 0
At 31 May 2024 0 0
Net book value
At 31 May 2024 887,227 887,227
At 31 May 2023 489,022 489,022

Our total assets include buildings, racing and breeding stock on thoroughbred equine 1005 owned by the company.

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Debtors


2024
£

2023
£
Trade debtors 64,782 34,184
Total 64,782 34,184
Debtors due after more than one year: 0 0

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

6.Creditors: amounts falling due within one year note


2024
£

2023
£
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 44,668 32,154
Total 44,668 32,154

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

7.Creditors: amounts falling due after more than one year


2024
£

2023
£
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Other creditors 0 0
Total 0 0

No long term Debtors or Creditors are due

SUMMERSTORM BLOODSTOCK (SCOTLAND) LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

8. Revaluation reserve


2024
£
Balance at 01 June 2023 557,854
Surplus or deficit after revaluation 430,323
Balance at 31 May 2024 988,177

During the year buildings, racing, breeding and new born thoroughbred stock added to our valuation, as well as winning thoroughbreds re evaluated, both for insurance and breeding purposes.