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REGISTERED NUMBER: 06620903 (England and Wales)














SALTHORSE STUD FARM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






SALTHORSE STUD FARM LIMITED (REGISTERED NUMBER: 06620903)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SALTHORSE STUD FARM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: K A Welch





REGISTERED OFFICE: Jaybees Farm Woodmancote Lane
Woodmancote
Emsworth
West Sussex
PO10 8RD





REGISTERED NUMBER: 06620903 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

SALTHORSE STUD FARM LIMITED (REGISTERED NUMBER: 06620903)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 52,019 56,839

CURRENT ASSETS
Inventories 5 7,120 7,150
Debtors 6 1,532 1,393
Cash at bank 67,484 48,645
76,136 57,188
CREDITORS
Amounts falling due within one year 7 136,491 139,250
NET CURRENT LIABILITIES (60,355 ) (82,062 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,336

)

(25,223

)

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 (9,336 ) (26,223 )
SHAREHOLDERS' FUNDS (8,336 ) (25,223 )

SALTHORSE STUD FARM LIMITED (REGISTERED NUMBER: 06620903)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 March 2025 and were signed by:





K A Welch - Director


SALTHORSE STUD FARM LIMITED (REGISTERED NUMBER: 06620903)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Salthorse Stud Farm Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, 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.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

SALTHORSE STUD FARM LIMITED (REGISTERED NUMBER: 06620903)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 July 2023 74,232 55,331 2,765 132,328
Additions - 113 - 113
At 30 June 2024 74,232 55,444 2,765 132,441
DEPRECIATION
At 1 July 2023 31,225 41,898 2,366 75,489
Charge for year 2,150 2,709 74 4,933
At 30 June 2024 33,375 44,607 2,440 80,422
NET BOOK VALUE
At 30 June 2024 40,857 10,837 325 52,019
At 30 June 2023 43,007 13,433 399 56,839

5. INVENTORIES
2024 2023
£    £   
Finished goods 7,120 7,150

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 764 247
VAT 768 1,146
1,532 1,393

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts 135,490 138,250
Accrued expenses 1,001 1,000
136,491 139,250

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

SALTHORSE STUD FARM LIMITED (REGISTERED NUMBER: 06620903)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. RESERVES
Retained
earnings
£   

At 1 July 2023 (26,223 )
Profit for the year 16,887
At 30 June 2024 (9,336 )

10. ULTIMATE CONTROLLING PARTY

The company is under the joint control of Mr D A Welch and Mrs K A Welch by virtue of them each owning 50% of the issued share capital.