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Registration number: 09079462

The Running White Horse Ltd

Annual Report and

Unaudited Financial Statements


for the Year Ended 30 June 2024

 

The Running White Horse Ltd

Contents




 

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

The Running White Horse Ltd

Company Information




 

Director

Mr M M Regan

Registered office



 

4 Kings Court
Little King Street
BRISTOL
BS1 4HW

Accountants

Everett King
Chartered Certified Accountants
4 Kings Court
Little King Street
BRISTOL
BS1 4HW

 

The Running White Horse Ltd

(Registration number: 09079462)
Balance Sheet as at 30 June 2024

Note

2024

2023

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

2,436

 

3,194

Current assets

   

 

Stocks

5

12,127

 

8,579

 

Debtors

6

121,055

 

128,581

 

Cash at bank and in hand

 

15,737

 

13,220

 

 

148,919

 

150,380

 

CREDITORS: Amounts falling due within one year

7

(139,343)

 

(151,583)

 

Net current assets/(liabilities)

   

9,576

 

(1,203)

Total assets less current liabilities

   

12,012

 

1,991

CREDITORS: Amounts falling due after more than one year

7

 

(9,624)

 

(19,883)

Net assets/(liabilities)

   

2,388

 

(17,892)

Capital and reserves

   

 

Called up share capital

8

100

 

100

 

Retained earnings

2,288

 

(17,992)

 

Shareholders' funds/(deficit)

   

2,388

 

(17,892)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

 

The Running White Horse Ltd

(Registration number: 09079462)
Balance Sheet as at 30 June 2024

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 October 2024
 

.........................................
Mr M M Regan
Director

 

The Running White Horse Ltd

Notes to the Unaudited Financial Statements

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:
4 Kings Court
Little King Street
BRISTOL
BS1 4HW

The principal place of business is:
c/o 35 Union Street
Swindon
Wilstshire
SN1 3LD

These financial statements were authorised for issue by the director on 22 October 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

The Running White Horse Ltd

Notes to the Unaudited Financial Statements

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Plant & machinery

20% straight line

Fixtures & equipment

20% 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.

Trade 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. Cost is determined using the first-in, first-out (FIFO) method.

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.

 

The Running White Horse Ltd

Notes to the Unaudited Financial Statements

Trade creditors

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 the director) during the year, was 18 (2023 - 14).

 

The Running White Horse Ltd

Notes to the Unaudited Financial Statements

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

48,326

48,326

Additions

144

144

At 30 June 2024

48,470

48,470

Depreciation

At 1 July 2023

45,132

45,132

Charge for the year

902

902

At 30 June 2024

46,034

46,034

Carrying amount

At 30 June 2024

2,436

2,436

At 30 June 2023

3,194

3,194

5

Stocks

2024
£

2023
£

Other inventories

12,127

8,579

6

Debtors

Current

2024
£

2023
£

Prepayments

3,271

3,083

Other debtors

117,784

125,498

 

121,055

128,581

 

The Running White Horse Ltd

Notes to the Unaudited Financial Statements

7

CREDITORS

CREDITORS: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

20,024

22,014

Trade creditors

 

31,070

42,796

Taxation and social security

 

86,523

75,601

Other creditors

 

1,726

11,172

 

139,343

151,583

CREDITORS: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

9,624

19,883

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

The Running White Horse Ltd

Notes to the Unaudited Financial Statements

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

9,624

19,883

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,259

10,014

Other borrowings

9,765

12,000

20,024

22,014

Bank borrowings

Bank loan is denominated in sterling with a nominal interest rate of 2.5%, and the final instalment is due on 31 May 2026. The carrying amount at year end is £19,883 (2023 - £29,897).

10

Related party transactions

Transactions with the director

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Mr M M Regan

57,951

78,282

(83,716)

52,517

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Mr M M Regan

50,575

74,466

(67,090)

57,951