REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
for |
Highbank Stud LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
for |
Highbank Stud LLP |
Highbank Stud LLP (Registered number: OC359037) |
Contents of the Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Highbank Stud LLP |
General Information |
for the Period 1 January 2023 to 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
3 Park Square |
Leeds |
LS1 2NE |
Highbank Stud LLP (Registered number: OC359037) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
966,053 |
1,358,834 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
966,053 |
1,358,834 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 966,053 | 1,358,834 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
Highbank Stud LLP (Registered number: OC359037) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Highbank Stud LLP (Registered number: OC359037) |
Notes to the Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Highbank Stud LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of bloodstock, excluding value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value which incorporates the purchase price of horses plus cover fees and associated costs. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
Highbank Stud LLP (Registered number: OC359037) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.12.22 |
£ | £ |
VAT |
Sundry debtors and prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.12.22 |
£ | £ |
Trade creditors |
Social security and other taxes |
VAT | - | 104,753 |
Amount due to related undertaking | 18,300 | 18,300 |
Sundry creditors and accruals |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up. |
8. | RELATED PARTY DISCLOSURES |
The partnership is related to BKS Groundworks Limited by virtue of Mrs I M Wainwright being a partner in the partnership and a director in BKS Groundworks Limited. |
During the period BKS Groundworks Limited invoiced the partnership £Nil (2022: £Nil). At 31 March 2024, the partnership owed BKS Groundworks Limited £18,300 (2022: £18,300). |
Highbank Stud LLP (Registered number: OC359037) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 31 March 2024 |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |