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Company registration number: 3745125
Myriad Bloodstock & Communications Limited
Unaudited filleted financial statements
30 April 2024
Myriad Bloodstock & Communications Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Myriad Bloodstock & Communications Limited
Directors and other information
Director Mr Simon David Marsh
Secretary John Fleming
Company number 3745125
Registered office Market Place
Lambourn
Hungerford
Berkshire
RG17 7XU
Business address Market Place
Lambourn
Hungerford
Berkshire
RG17 7XU
Accountants Fleming Accountancy Services
29 Lower Patrick Street
Kilkenny
Co Kilkenny
Myriad Bloodstock & Communications Limited
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 516,996 605,774
Investments 6 183,148 183,148
_______ _______
700,144 788,922
Current assets
Stocks 427,697 440,379
Debtors 7 191,129 180,015
Cash at bank and in hand 32,748 156,864
_______ _______
651,574 777,258
Creditors: amounts falling due
within one year 8 ( 643,375) ( 723,860)
_______ _______
Net current assets 8,199 53,398
_______ _______
Total assets less current liabilities 708,343 842,320
_______ _______
Net assets 708,343 842,320
_______ _______
Capital and reserves
Called up share capital 175 175
Share premium account 130,000 130,000
Revaluation reserve ( 5,687) ( 5,687)
Profit and loss account 583,855 717,832
_______ _______
Shareholders funds 708,343 842,320
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 January 2025 , and are signed on behalf of the board by:
Mr Simon David Marsh
Director
Company registration number: 3745125
Myriad Bloodstock & Communications Limited
Statement of changes in equity
Year ended 30 April 2024
Called up share capital Share premium account Revaluation reserve Profit and loss account Total
£ £ £ £ £
At 1 May 2022 175 130,000 ( 5,687) 643,914 768,402
Profit for the year 738,918 738,918
_______ _______ _______ _______ _______
Total comprehensive income for the year - - - 738,918 738,918
Dividends paid and payable ( 665,000) ( 665,000)
_______ _______ _______ _______ _______
Total investments by and distributions to owners - - - ( 665,000) ( 665,000)
_______ _______ _______ _______ _______
At 30 April 2023 and 1 May 2023 175 130,000 ( 5,687) 717,832 842,320
Profit for the year 507,023 507,023
_______ _______ _______ _______ _______
Total comprehensive income for the year - - - 507,023 507,023
Dividends paid and payable ( 641,000) ( 641,000)
_______ _______ _______ _______ _______
Total investments by and distributions to owners - - - ( 641,000) ( 641,000)
_______ _______ _______ _______ _______
At 30 April 2024 175 130,000 ( 5,687) 583,855 708,343
_______ _______ _______ _______ _______
Myriad Bloodstock & Communications Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is c/o Simon Marsh, Market Place, Lambourn, Hungerford, Berkshire, RG17 7XU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 5 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Office Development Total
£ £ £ £ £ £
Cost
At 1 May 2023 394,298 77,030 25,352 42,450 327,159 866,289
Additions - - 1,260 - 29,210 30,470
_______ _______ _______ _______ _______ _______
At 30 April 2024 394,298 77,030 26,612 42,450 356,369 896,759
_______ _______ _______ _______ _______ _______
Depreciation
At 1 May 2023 106,510 41,180 18,586 12,450 81,789 260,515
Charge for the year 4,886 11,950 3,320 10,000 89,092 119,248
_______ _______ _______ _______ _______ _______
At 30 April 2024 111,396 53,130 21,906 22,450 170,881 379,763
_______ _______ _______ _______ _______ _______
Carrying amount
At 30 April 2024 282,902 23,900 4,706 20,000 185,488 516,996
_______ _______ _______ _______ _______ _______
At 30 April 2023 287,788 35,850 6,766 30,000 245,370 605,774
_______ _______ _______ _______ _______ _______
6. Investments
Other investments other than loans Total
£ £
Cost
At 1 May 2023 and 30 April 2024 227,089 227,089
_______ _______
Impairment
At 1 May 2023 and 30 April 2024 43,941 43,941
_______ _______
Carrying amount
At 30 April 2024 183,148 183,148
_______ _______
At 30 April 2023 183,148 183,148
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors 191,129 179,940
Other debtors - 75
_______ _______
191,129 180,015
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 261,670 301,241
Trade creditors 33,224 115,726
Corporation tax 215,195 188,565
Social security and other taxes 123,871 109,960
Other creditors 9,415 8,368
_______ _______
643,375 723,860
_______ _______