K.A.C Bloodstock Ltd 12998581 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is the activity of racehorse owners. Digita Accounts Production Advanced 6.30.9574.0 true true 12998581 2023-12-01 2024-11-30 12998581 2024-11-30 12998581 core:CurrentFinancialInstruments 2024-11-30 12998581 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 12998581 bus:SmallEntities 2023-12-01 2024-11-30 12998581 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 12998581 bus:FilletedAccounts 2023-12-01 2024-11-30 12998581 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 12998581 bus:RegisteredOffice 2023-12-01 2024-11-30 12998581 bus:Director1 2023-12-01 2024-11-30 12998581 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 12998581 core:OtherRelatedParties 2023-12-01 2024-11-30 12998581 countries:EnglandWales 2023-12-01 2024-11-30 12998581 2022-12-01 2023-11-30 12998581 2023-11-30 12998581 core:CurrentFinancialInstruments 2023-11-30 12998581 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 iso4217:GBP xbrli:pure

Registration number: 12998581

K.A.C Bloodstock Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

K.A.C Bloodstock Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

K.A.C Bloodstock Ltd

(Registration number: 12998581)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

10,000

50,000

Debtors

5

993

674

Cash at bank and in hand

 

5,149

11,841

 

16,142

62,515

Creditors: Amounts falling due within one year

6

(327,580)

(308,080)

Net liabilities

 

(311,438)

(245,565)

Capital and reserves

 

Called up share capital

3

3

Retained earnings

(311,441)

(245,568)

Shareholders' deficit

 

(311,438)

(245,565)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 February 2025 and signed on its behalf by:
 

.........................................
C E Weare
Director

 

K.A.C Bloodstock Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7a King Street
Frome
Somerset
BA11 1BH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

K.A.C Bloodstock Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Stocks

2024
£

2023
£

Stock

10,000

50,000

5

Debtors

2024
£

2023
£

Other debtors

993

674

993

674

 

K.A.C Bloodstock Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Creditors

Amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

327,580

308,080

7

Related party transactions

Summary of transactions with other related parties

Transactions with companies connected to Directors
 
At the year end the company owes three separate loans to companies connected to the directors amounting to £179,300 (2023: £160,100).