Transilio Equestrian Limited 10621661 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is . Digita Accounts Production Advanced 6.30.9574.0 true true 10621661 2023-08-01 2024-07-31 10621661 2024-07-31 10621661 core:RetainedEarningsAccumulatedLosses 2024-07-31 10621661 core:ShareCapital 2024-07-31 10621661 core:CurrentFinancialInstruments 2024-07-31 10621661 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 10621661 core:MotorVehicles 2024-07-31 10621661 core:PlantMachinery 2024-07-31 10621661 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-07-31 10621661 bus:SmallEntities 2023-08-01 2024-07-31 10621661 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 10621661 bus:FilletedAccounts 2023-08-01 2024-07-31 10621661 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10621661 bus:RegisteredOffice 2023-08-01 2024-07-31 10621661 bus:Director1 2023-08-01 2024-07-31 10621661 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10621661 core:MotorVehicles 2023-08-01 2024-07-31 10621661 core:PlantMachinery 2023-08-01 2024-07-31 10621661 core:KeyManagementPersonnel 2023-08-01 2024-07-31 10621661 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-08-01 2024-07-31 10621661 countries:EnglandWales 2023-08-01 2024-07-31 10621661 2023-07-31 10621661 core:MotorVehicles 2023-07-31 10621661 core:PlantMachinery 2023-07-31 10621661 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-07-31 10621661 2022-08-01 2023-07-31 10621661 2023-07-31 10621661 core:RetainedEarningsAccumulatedLosses 2023-07-31 10621661 core:ShareCapital 2023-07-31 10621661 core:CurrentFinancialInstruments 2023-07-31 10621661 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 10621661 core:MotorVehicles 2023-07-31 10621661 core:PlantMachinery 2023-07-31 10621661 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-07-31 10621661 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-08-01 2023-07-31 10621661 2022-07-31 10621661 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 10621661

Transilio Equestrian Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Transilio Equestrian Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Transilio Equestrian Limited

(Registration number: 10621661)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,767

103,492

Current assets

 

Stocks

5

441,948

960,312

Debtors

6

5,441

14,278

Cash at bank and in hand

 

80,338

101,648

 

527,727

1,076,238

Creditors: Amounts falling due within one year

7

(10,626,679)

(10,699,837)

Net current liabilities

 

(10,098,952)

(9,623,599)

Net liabilities

 

(10,082,185)

(9,520,107)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(10,082,187)

(9,520,109)

Shareholders' deficit

 

(10,082,185)

(9,520,107)

For the financial year ending 31 July 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 5 March 2025 and signed on its behalf by:
 

Mr A Norris
Director

   
     
 

Transilio Equestrian Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
New Farm
Hartlake
Glastonbury
Somerset
BA6 9AB

These financial statements were authorised for issue by the Board on 5 March 2025.

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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The company's statement of financial position at 31 July 2024 shows that liabilities exceed assets by £10,082,185 (2023 - £9,520,107). The negative reserves give rise to uncertainty in relation to the company's future activity, however the directors are committed to ensure that the company is able to meet its liabilities on a day to day basis, therefore the directors believe it is appropriate to prepare the financial statements on a going concern basis.



 

Transilio Equestrian Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

2

Accounting policies (continued)

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.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Plant and machinery

25% straight line

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.

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.

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.

 

Transilio Equestrian Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

2

Accounting policies (continued)

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 4 (2023 - 4).

 

Transilio Equestrian Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

30,522

315,717

346,239

Additions

7,080

-

7,080

Disposals

-

(278,727)

(278,727)

At 31 July 2024

37,602

36,990

74,592

Depreciation

At 1 August 2023

19,304

223,443

242,747

Charge for the year

5,971

12,274

18,245

Eliminated on disposal

-

(203,167)

(203,167)

At 31 July 2024

25,275

32,550

57,825

Carrying amount

At 31 July 2024

12,327

4,440

16,767

At 31 July 2023

11,218

92,274

103,492

5

Stocks

2024
£

2023
£

Other inventories

441,948

960,312

6

Debtors

2024
£

2023
£

Trade debtors

1,178

-

Other debtors

1,244

11,850

Prepayments

3,019

2,428

5,441

14,278

 

Transilio Equestrian Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Due within one year

Note

2024
£

2023
£

 

Trade creditors

 

5,012

21,600

Amounts due to related parties

8

10,619,417

10,674,096

Social security and other taxes

 

-

800

Other creditors

 

-

253

Accruals

 

2,250

3,088

 

10,626,679

10,699,837

8

Related party transactions

Loans to related parties

2024

Key management
£

Total
£

At start of period

10,674,096

10,674,096

Advanced

147,311

147,311

Repaid

(201,990)

(201,990)

At end of period

10,619,417

10,619,417

2023

Key management
£

Total
£

At start of period

10,186,835

10,186,835

Advanced

501,511

501,511

Repaid

(14,250)

(14,250)

At end of period

10,674,096

10,674,096

Terms of loans to related parties

Loans to key management are interest free and repayable on demand.