Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31false2023-06-01Raising of horses and other equines44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07645324 2023-06-01 2024-05-31 07645324 2022-06-01 2023-05-31 07645324 2024-05-31 07645324 2023-05-31 07645324 c:Director1 2023-06-01 2024-05-31 07645324 d:PlantMachinery 2023-06-01 2024-05-31 07645324 d:PlantMachinery 2024-05-31 07645324 d:PlantMachinery 2023-05-31 07645324 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07645324 d:ComputerEquipment 2023-06-01 2024-05-31 07645324 d:ComputerEquipment 2024-05-31 07645324 d:ComputerEquipment 2023-05-31 07645324 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07645324 d:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 07645324 d:OtherPropertyPlantEquipment 2024-05-31 07645324 d:OtherPropertyPlantEquipment 2023-05-31 07645324 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07645324 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07645324 d:CurrentFinancialInstruments 2024-05-31 07645324 d:CurrentFinancialInstruments 2023-05-31 07645324 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 07645324 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07645324 d:ShareCapital 2024-05-31 07645324 d:ShareCapital 2023-05-31 07645324 d:RetainedEarningsAccumulatedLosses 2024-05-31 07645324 d:RetainedEarningsAccumulatedLosses 2023-05-31 07645324 c:OrdinaryShareClass1 2023-06-01 2024-05-31 07645324 c:OrdinaryShareClass1 2024-05-31 07645324 c:OrdinaryShareClass1 2023-05-31 07645324 c:FRS102 2023-06-01 2024-05-31 07645324 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07645324 c:FullAccounts 2023-06-01 2024-05-31 07645324 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07645324 2 2023-06-01 2024-05-31 07645324 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07645324










BATSFORD STUD LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
BATSFORD STUD LTD
REGISTERED NUMBER: 07645324

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
72,378
91,130

  
72,378
91,130

Current assets
  

Stocks
 5 
19,600
11,000

Debtors: amounts falling due within one year
 6 
71,587
136,278

  
91,187
147,278

Creditors: amounts falling due within one year
 7 
(81,195)
(108,089)

Net current assets
  
 
 
9,992
 
 
39,189

Total assets less current liabilities
  
82,370
130,319

Net assets
  
82,370
130,319


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
82,270
130,219

  
82,370
130,319


The director considers 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 director acknowledges his 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 statement of comprehensive income 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: 



A Varey
Director

Date: 7 February 2025

The notes on pages 3 to 8 form part of these financial statements.
Page 1

 
BATSFORD STUD LTD
REGISTERED NUMBER: 07645324

BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024


Page 2

 
BATSFORD STUD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Batsford Stud Limited is a private company, limited by share capital and incorporated in England and Wales. 
The company's registered office address is 2 Communications Road, Greenham Business Park, Greenham, Newbury, Berkshire, RG19 6AB.
The company's principal place of business is Batsford Stud, Batsford, Moreton-in-Marsh, Gloucestershire, GL56 9QF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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 Company has transferred the significant risks and rewards of ownership to the buyer;
the Company 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 Company 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 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.

 
2.3

Interest income

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

Page 3

 
BATSFORD STUD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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 balance sheet date in the countries where the Company operates and generates income.


 
2.8

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Computer equipment
-
33%
Bloodstock - Broodmares
-
Not depreciated, reviewed annually for impairment

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 4

 
BATSFORD STUD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

  
2.9

Stocks - Biological assets

Bloodstock is valued individually under the cost model at the lower of cost or valuation at the balance sheet date. Systematic depreciation is not applied as the director considered that assessments for impairment on an individual asset basis is more appropriate method of valuation. 
The cost of the homebred foals is determined as the aggregate of the nomination cost and the cost of keep of the broodmare for one year.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
BATSFORD STUD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Bloodstock - Broodmares
Plant and machinery
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2023
21,707
185,398
11,268
218,373


Disposals
(8,107)
-
-
(8,107)



At 31 May 2024

13,600
185,398
11,268
210,266



Depreciation


At 1 June 2023
-
117,237
10,006
127,243


Charge for the year on owned assets
-
10,225
420
10,645



At 31 May 2024

-
127,462
10,426
137,888



Net book value



At 31 May 2024
13,600
57,936
842
72,378



At 31 May 2023
21,707
68,161
1,262
91,130

Page 6

 
BATSFORD STUD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Stocks

2024
2023
£
£

Biological assets
19,600
11,000

19,600
11,000



6.


Debtors

2024
2023
£
£

Trade debtors
66,449
131,153

Other debtors
5,138
5,125

71,587
136,278



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
10,140
10,386

Trade creditors
33,583
34,521

Corporation tax
-
9,902

Other taxation and social security
9,424
22,794

Other creditors
25,263
27,836

Accruals and deferred income
2,785
2,650

81,195
108,089



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary Shares shares of £1 each
100
100



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,648 (2023: £3,005). Contributions totalling £742 (2023: £783) were payable to the fund at the balance sheet date and are included in creditors.

Page 7

 
BATSFORD STUD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Related party transactions

At the year end the company owed the director £11,884 (2023: £11,794).  The loan is included within other creditors, is interest free and repayable upon demand.


Page 8