Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302024-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-07-01falsePromotion of the equestrian industrytruefalse 01353314 2023-07-01 2024-06-30 01353314 2024-06-30 01353314 2022-07-01 2023-06-30 01353314 2023-06-30 01353314 c:Director6 2023-07-01 2024-06-30 01353314 d:MotorVehicles 2023-07-01 2024-06-30 01353314 d:FurnitureFittings 2023-07-01 2024-06-30 01353314 d:OfficeEquipment 2023-07-01 2024-06-30 01353314 d:CurrentFinancialInstruments 2024-06-30 01353314 d:CurrentFinancialInstruments 2023-06-30 01353314 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 01353314 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 01353314 d:RetainedEarningsAccumulatedLosses 2024-06-30 01353314 d:RetainedEarningsAccumulatedLosses 2023-06-30 01353314 d:RetainedEarningsAccumulatedLosses 2022-07-01 01353314 c:FRS102 2023-07-01 2024-06-30 01353314 c:IndependentExaminationCharity 2023-07-01 2024-06-30 01353314 c:FullAccounts 2023-07-01 2024-06-30 01353314 c:CompanyLimitedByGuarantee 2023-07-01 2024-06-30 01353314 d:Subsidiary1 2023-07-01 2024-06-30 01353314 d:Subsidiary1 1 2023-07-01 2024-06-30 01353314 d:Subsidiary2 2023-07-01 2024-06-30 01353314 d:Subsidiary2 1 2023-07-01 2024-06-30 01353314 d:WithinOneYear 2024-06-30 01353314 d:WithinOneYear 2023-06-30 01353314 d:BetweenOneFiveYears 2024-06-30 01353314 d:BetweenOneFiveYears 2023-06-30 01353314 c:Consolidated 2024-06-30 01353314 c:ConsolidatedGroupCompanyAccounts 2023-07-01 2024-06-30 01353314 2 2023-07-01 2024-06-30 01353314 6 2023-07-01 2024-06-30 01353314 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Company Registration Number 01353314























BRITISH EQUESTRIAN TRADE ASSOCIATION LIMITED(THE)





UNAUDITED
FINANCIAL STATEMENTS





 30 JUNE 2024







(A Company Limited by Guarantee)

 
















img4148.png

 
BRITISH EQUESTRIAN TRADE ASSOCIATION LIMITED(THE)
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 01353314

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,469
4,379

Current assets
  

Stocks
 7 
5,325
7,408

Debtors: amounts falling due within one year
 8 
226,148
222,303

Cash at bank and in hand
 9 
727,810
756,234

  
959,283
985,945

Creditors: amounts falling due within one year
 10 
(396,338)
(459,073)

Net current assets
  
 
 
562,945
 
 
526,872

Total assets less current liabilities
  
565,414
531,251

Net assets
  
565,414
531,251


Capital and reserves
  

Profit and loss account
  
565,414
531,251

  
565,414
531,251


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
W B Hofstee
Director
Date: 30 October 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 1

 
BRITISH EQUESTRIAN TRADE ASSOCIATION LIMITED(THE)
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 01353314

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
  
356,956
356,956

Current assets
  

Stocks
 7 
5,325
7,408

Debtors: amounts falling due within one year
 8 
444,043
401,636

Cash at bank and in hand
 9 
18,171
47,070

  
467,539
456,114

Creditors: amounts falling due within one year
 10 
(55,384)
(82,761)

Net current assets
  
 
 
412,155
 
 
373,353

Total assets less current liabilities
  
769,111
730,309

  

  

Net assets
  
769,111
730,309


Capital and reserves
  

Profit and loss account brought forward
  
730,309
698,597

Profit for the year
  
38,802
31,712

Profit and loss account carried forward
  
769,111
730,309

  
769,111
730,309


The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
W B Hofstee
Director
Date: 30 October 2024

The notes on pages 4 to 11 form part of these financial statements.
Page 2

 
BRITISH EQUESTRIAN TRADE ASSOCIATION LIMITED(THE)
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 01353314

COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024


Page 3

 
BRITISH EQUESTRIAN TRADE ASSOCIATION LIMITED(THE)

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The Company is a private company limited by guarantee incorporated and domiciled in the United Kingdom. Its registered office is East Wing, Stockeld Park, Wetherby, West Yorkshire, LS22 4AW.
The principal activity of the company is the promotion of the equestrian industry. 
 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Income and Retained Earnings in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Income and Retained Earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Going concern

In common with many businesses within the events sector, the group has been heavily impacted by Covid-19, which has given rise to year-on-year losses. 
However following the pandemic, the directors have prepared a revised business plan, which reflects a leaner, more agile, and more profitable business. Furthermore, although the group’s reserves have been eroded during the last couple of years, its asset base remains strong, while BETA’s network of members has proven resilient and continues to expand.
Management have prepared forecasts for a period of 12 months from the date of sign off which set out a prudent execution of the revised business plan. Under this scenario, and bearing in mind the group’s healthy reserves position, the directors are confident that the company and the group have sufficient liquid resources to enable it to meet its liabilities as they fall due.

After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.

Page 4

 
BRITISH EQUESTRIAN TRADE ASSOCIATION LIMITED(THE)

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Motor vehicles
-
33% reducing balance
Fixtures and fittings
-
20 - 25% straight line
Office equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
BRITISH EQUESTRIAN TRADE ASSOCIATION LIMITED(THE)

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Consolidated Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 6

 
BRITISH EQUESTRIAN TRADE ASSOCIATION LIMITED(THE)

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.12

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.13

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.16

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 and the Group operate and generate income.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

Page 7

 
BRITISH EQUESTRIAN TRADE ASSOCIATION LIMITED(THE)

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Parent company profit for the year

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Income and Retained Earnings in these financial statements. The profit after tax of the parent Company for the year was £38,802 (2023 - £31,712).


5.


Tangible fixed assets

Group






Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2023
52,800
46,069
125,808
224,677


Additions
-
-
1,608
1,608



At 30 June 2024

52,800
46,069
127,416
226,285



Depreciation


At 1 July 2023
49,336
46,069
124,894
220,299


Charge for the year on owned assets
995
-
2,522
3,517



At 30 June 2024

50,331
46,069
127,416
223,816



Net book value



At 30 June 2024
2,469
-
-
2,469



At 30 June 2023
3,464
-
915
4,379

Page 8

 
BRITISH EQUESTRIAN TRADE ASSOCIATION LIMITED(THE)

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
356,956



At 30 June 2024
356,956





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Equestrian Management Consultants Limited
Stockeld Park, Wetherby, West Yorkshire, LS22 4AW
Ordinary
100%
BETA Trade Fairs Limited
Stockeld Park, Wetherby, West Yorkshire, LS22 4AW
Ordinary
100%

The aggregate of the share capital and reserves as at 30 June 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Equestrian Management Consultants Limited
153,157
(4,641)

BETA Trade Fairs Limited
100
-


7.


Stocks

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Finished goods and goods for resale
5,325
7,408
5,325
7,408

5,325
7,408
5,325
7,408


The difference between purchase price or production cost of stocks and their replacement cost is not material.

Page 9

 
BRITISH EQUESTRIAN TRADE ASSOCIATION LIMITED(THE)

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
129,698
103,664
12,355
21,162

Amounts owed by group undertakings
-
-
425,391
376,895

Prepayments and accrued income
96,450
118,639
6,297
3,579

226,148
222,303
444,043
401,636



9.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
727,810
756,234
18,171
47,070

727,810
756,234
18,171
47,070



10.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Trade creditors
63,212
124,975
16,047
44,709

Other taxation and social security
35,416
40,023
10,988
5,012

Other creditors
547
872
-
399

Accruals and deferred income
297,163
293,203
28,349
32,641

396,338
459,073
55,384
82,761




11.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £20 towards the assets of the company in the event of liquidation.


12.


Pension commitments

The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £25,483 (2023 - £23,788). Contributions totalling £547 (2023 - £473) were payable to the fund at the reporting date.

Page 10

 
BRITISH EQUESTRIAN TRADE ASSOCIATION LIMITED(THE)

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

13.


Commitments under operating leases

At 30 June 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Not later than 1 year
14,000
21,000
14,000
21,000

Later than 1 year and not later than 5 years
-
14,000
-
14,000

14,000
35,000
14,000
35,000


14.


Related party transactions

The company has taken advantage of exemption contained in Section 33 of FRS 102 "Related Party
Disclosures" from disclosing transactions with entities which are part of the group, since 100% of the
voting rights in the company are controlled within the group.

Page 11