Silverfin false 03/04/2024 04/04/2023 03/04/2024 Mrs C Found 05/07/2017 Mr E J W Found 05/07/2017 22 March 2025 OC418058 2024-04-03 OC418058 bus:Director1 2024-04-03 OC418058 bus:Director2 2024-04-03 OC418058 2023-04-03 OC418058 core:CurrentFinancialInstruments 2024-04-03 OC418058 core:CurrentFinancialInstruments 2023-04-03 OC418058 core:Non-currentFinancialInstruments 2024-04-03 OC418058 core:Non-currentFinancialInstruments 2023-04-03 OC418058 core:PlantMachinery 2023-04-03 OC418058 core:PlantMachinery 2024-04-03 OC418058 2023-04-04 2024-04-03 OC418058 bus:FullAccounts 2023-04-04 2024-04-03 OC418058 bus:SmallEntities 2023-04-04 2024-04-03 OC418058 bus:AuditExemptWithAccountantsReport 2023-04-04 2024-04-03 OC418058 bus:LimitedLiabilityPartnershipLLP 2023-04-04 2024-04-03 OC418058 bus:Director1 2023-04-04 2024-04-03 OC418058 bus:Director2 2023-04-04 2024-04-03 OC418058 core:PlantMachinery 2023-04-04 2024-04-03 OC418058 2022-04-05 2023-04-03 iso4217:GBP xbrli:pure

Company No: OC418058 (England and Wales)

CC YOUNG HORSE SPECIALIST LLP

Unaudited Financial Statements
For the financial year ended 03 April 2024
Pages for filing with the registrar

CC YOUNG HORSE SPECIALIST LLP

Unaudited Financial Statements

For the financial year ended 03 April 2024

Contents

CC YOUNG HORSE SPECIALIST LLP

BALANCE SHEET

As at 03 April 2024
CC YOUNG HORSE SPECIALIST LLP

BALANCE SHEET (continued)

As at 03 April 2024
Note 03.04.2024 03.04.2023
£ £
Fixed assets
Tangible assets 4 9,780 12,225
9,780 12,225
Current assets
Debtors 5 96 5,029
Cash at bank and in hand 768 15,197
864 20,226
Creditors: amounts falling due within one year 6 ( 30,547) ( 27,213)
Net current liabilities (29,683) (6,987)
Total assets less current liabilities (19,903) 5,238
Creditors: amounts falling due after more than one year 7 ( 7,409) ( 13,019)
Net liabilities attributable to members ( 27,312) ( 7,781)
Represented by
Members' other interests
Members' capital classified as equity (66,408) (68,284)
Other reserves 39,096 60,503
(27,312) (7,781)
(27,312) (7,781)
Total members' interests
Members' other interests (27,312) (7,781)
(27,312) (7,781)

For the financial year ending 03 April 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of CC Young Horse Specialist LLP (registered number: OC418058) were approved and authorised for issue by the Board of Directors on 22 March 2025. They were signed on its behalf by:

Mrs C Found
Designated member
Mr E J W Found
Designated member
CC YOUNG HORSE SPECIALIST LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial year ended 03 April 2024
CC YOUNG HORSE SPECIALIST LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial year ended 03 April 2024
EQUITY
Members' other interests
Total members' interests
Members' capital (classified as equity) Other reserves Total Total
£ £ £ £
Balance at 05 April 2022 (44,299) 27,024 (17,275) (17,275)
Profit for the financial year/period available for discretionary division among members 0 33,479 33,479 33,479
Members' interest after profit for the financial year/period (44,299) 60,503 16,204 16,204
Introduced by members 1,000 0 1,000 1,000
Repayment of capital (24,985) 0 (24,985) (24,985)
Balance at 03 April 2023 (68,284) 60,503 (7,781) (7,781)
Loss for the financial year/period available for discretionary division among members 0 (21,407) (21,407) (21,407)
Members' interest after loss for the financial year/period (68,284) 39,096 (29,188) (29,188)
Introduced by members 20,826 0 20,826 20,826
Repayment of capital (18,950) 0 (18,950) (18,950)
Balance at 03 April 2024 (66,408) 39,096 (27,312) (27,312)

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

CC YOUNG HORSE SPECIALIST LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 03 April 2024
CC YOUNG HORSE SPECIALIST LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 03 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

CC Young Horse Specialist LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2018 (SORP 2018).


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

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of horse training and livery. The fair value of consideration takes into account any discounts.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The LLP as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Employees

Year ended
03.04.2024
Period from
05.04.2022 to
03.04.2023
Number Number
Monthly average number of persons employed by the LLP during the year 5 8

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

03.04.2024 03.04.2023
Number Number
Average number of members during the financial year 2 2

4. Tangible assets

Plant and machinery Total
£ £
Cost
At 04 April 2023 22,617 22,617
At 03 April 2024 22,617 22,617
Accumulated depreciation
At 04 April 2023 10,392 10,392
Charge for the financial year 2,445 2,445
At 03 April 2024 12,837 12,837
Net book value
At 03 April 2024 9,780 9,780
At 03 April 2023 12,225 12,225

5. Debtors

03.04.2024 03.04.2023
£ £
Trade debtors 96 5,029

6. Creditors: amounts falling due within one year

03.04.2024 03.04.2023
£ £
Bank loans 5,510 5,410
Accruals 7,700 9,757
Other taxation and social security 7,564 7,333
Other creditors 9,773 4,713
30,547 27,213

7. Creditors: amounts falling due after more than one year

03.04.2024 03.04.2023
£ £
Bank loans 7,409 13,019