REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
H M BLOODSTOCK SERVICES LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
H M BLOODSTOCK SERVICES LTD |
H M BLOODSTOCK SERVICES LTD (REGISTERED NUMBER: 11750547) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
H M BLOODSTOCK SERVICES LTD |
COMPANY INFORMATION |
for the year ended 31 January 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
16 Davy Court |
Castle Mound Way |
Rugby, CV23 0UZ |
Magma Audit LLP is part |
Of the Dains Group |
H M BLOODSTOCK SERVICES LTD (REGISTERED NUMBER: 11750547) |
BALANCE SHEET |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
H M BLOODSTOCK SERVICES LTD (REGISTERED NUMBER: 11750547) |
BALANCE SHEET - continued |
31 January 2024 |
The financial statements were approved by the director and authorised for issue on |
H M BLOODSTOCK SERVICES LTD (REGISTERED NUMBER: 11750547) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 January 2024 |
1. | STATUTORY INFORMATION |
H M Bloodstock Services Ltd is a limited company, registered in England and Wales. Its registered office address is School House, Whichford, Shipston-On-Stour, CV36 5PE and the registered number is 11750547. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentation currency of the financial statements is Pound Sterling (£) and figures are rounded to the nearest £1. |
Going concern |
At the year end the company had net current liabilities of £312,217 (2023: £36,807) and net liabilities of £227,613 (2023: £65,834). The director has considered this and prepared the financial statements on a going concern basis.The director has confirmed that he will continue to support the company financially for the foreseeable future. |
Turnover |
Turnover 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: |
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 condition are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the Company 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. |
Tangible fixed assets |
Computer Equipment - 25% Straight Line Basis |
Investments in associates |
Investment in the subsidiary company is held at cost less accumulated impairment losses. |
Valuation of horses |
The carrying value for the horses is the lower of cost and valuation at the period end. |
Financial instruments |
(i) Financial assets |
Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Such assets are subsequently carried at amortised cost using the effective interest rate method. |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
H M BLOODSTOCK SERVICES LTD (REGISTERED NUMBER: 11750547) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 January 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
The tax expense for the year comprises current and deferred tax. |
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. |
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: |
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31 January 2024 |
DEPRECIATION |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
5. | FIXED ASSET INVESTMENTS |
Interest |
in |
associate |
£ |
COST |
Additions |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
H M BLOODSTOCK SERVICES LTD (REGISTERED NUMBER: 11750547) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 January 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security | ( |
) |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |