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REGISTERED NUMBER: OC359037 (England and Wales)















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: Mrs I M Wainwright
Mr T W Wainwright





REGISTERED OFFICE: 3 Park Square
Leeds
West Yorkshire
LS1 2NE





REGISTERED NUMBER: OC359037 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
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 15,463 16,123

CURRENT ASSETS
Stocks 1,002,000 790,000
Debtors 5 11,281 3,375
Cash at bank 9,083 678,468
1,022,364 1,471,843
CREDITORS
Amounts falling due within one year 6 71,774 129,132
NET CURRENT ASSETS 950,590 1,342,711
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 LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31 March 2024.

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 have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 27 January 2025 and were signed by:





Mrs I M Wainwright - Designated member

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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of bloodstock, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

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 3 (2022 - 3 ) .

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 63,312
Additions 3,763
At 31 March 2024 67,075
DEPRECIATION
At 1 January 2023 47,189
Charge for period 4,423
At 31 March 2024 51,612
NET BOOK VALUE
At 31 March 2024 15,463
At 31 December 2022 16,123

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.12.22
£    £   
VAT 10,391 -
Sundry debtors and prepayments 890 3,375
11,281 3,375

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.12.22
£    £   
Trade creditors 49,902 -
Social security and other taxes 1,803 604
VAT - 104,753
Amount due to related undertaking 18,300 18,300
Sundry creditors and accruals 1,769 5,475
71,774 129,132

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 Mrs I M Wainwright.