Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 31 May 2022 false 1 June 2023 31 May 2024 31 May 2024 14144425 Mr Matthew Lambert Mr Matthew Lambert iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14144425 2023-05-31 14144425 2024-05-31 14144425 2023-06-01 2024-05-31 14144425 frs-core:CurrentFinancialInstruments 2024-05-31 14144425 frs-core:ShareCapital 2024-05-31 14144425 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 14144425 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14144425 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 14144425 frs-bus:SmallEntities 2023-06-01 2024-05-31 14144425 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 14144425 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 14144425 frs-bus:Director1 2023-06-01 2024-05-31 14144425 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 14144425 frs-countries:EnglandWales 2023-06-01 2024-05-31 14144425 2022-05-30 14144425 2023-05-31 14144425 2022-05-31 2023-05-31 14144425 frs-core:CurrentFinancialInstruments 2023-05-31 14144425 frs-core:ShareCapital 2023-05-31 14144425 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 14144425
ML Racing Bloodstock Ltd
Financial Statements
For The Year Ended 31 May 2024
Hames Partnership Limited
Chartered Institute of Management Accountants (CIMA)
Stables End Court
Main Street
Market Bosworth
Warwickshire
CV13 0JN
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14144425
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 186,750 177,000
Debtors 5 9,149 11,503
Cash at bank and in hand 10,973 986
206,872 189,489
Creditors: Amounts Falling Due Within One Year 6 (305,937 ) (247,072 )
NET CURRENT ASSETS (LIABILITIES) (99,065 ) (57,583 )
TOTAL ASSETS LESS CURRENT LIABILITIES (99,065 ) (57,583 )
NET LIABILITIES (99,065 ) (57,583 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (99,165 ) (57,683 )
SHAREHOLDERS' FUNDS (99,065) (57,583)
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Lambert
Director
16/01/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
ML Racing Bloodstock Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14144425 . The registered office is Stables End Court , Main Street, Market Bosworth, Warwickshire, CV13 0JN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Stocks
2024 2023
£ £
Stock 186,750 177,000
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 4,732 4,166
VAT 4,417 7,337
9,149 11,503
Page 2
Page 3
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 12,845 6,651
Accruals and deferred income 850 750
Director's loan account 188,780 188,924
Amounts owed to associates 103,462 50,747
305,937 247,072
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 3