2 2 Lower Weare Livery Limited 13328846 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is the boarding and care of horses. Digita Accounts Production Advanced 6.30.9574.0 true 13328846 2023-08-01 2024-07-31 13328846 2024-07-31 13328846 bus:Director1 1 2024-07-31 13328846 bus:Director2 1 2024-07-31 13328846 bus:OrdinaryShareClass1 2024-07-31 13328846 core:RetainedEarningsAccumulatedLosses 2024-07-31 13328846 core:ShareCapital 2024-07-31 13328846 core:CurrentFinancialInstruments 2024-07-31 13328846 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 13328846 core:FurnitureFittingsToolsEquipment 2024-07-31 13328846 core:OtherPropertyPlantEquipment 2024-07-31 13328846 bus:SmallEntities 2023-08-01 2024-07-31 13328846 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 13328846 bus:FilletedAccounts 2023-08-01 2024-07-31 13328846 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 13328846 bus:RegisteredOffice 2023-08-01 2024-07-31 13328846 bus:Director1 2023-08-01 2024-07-31 13328846 bus:Director1 1 2023-08-01 2024-07-31 13328846 bus:Director2 2023-08-01 2024-07-31 13328846 bus:Director2 1 2023-08-01 2024-07-31 13328846 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 13328846 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 13328846 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 13328846 core:OfficeEquipment 2023-08-01 2024-07-31 13328846 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 13328846 core:PlantMachinery 2023-08-01 2024-07-31 13328846 countries:EnglandWales 2023-08-01 2024-07-31 13328846 2023-07-31 13328846 bus:Director1 1 2023-07-31 13328846 bus:Director2 1 2023-07-31 13328846 core:FurnitureFittingsToolsEquipment 2023-07-31 13328846 core:OtherPropertyPlantEquipment 2023-07-31 13328846 2022-08-01 2023-07-31 13328846 2023-07-31 13328846 bus:OrdinaryShareClass1 2023-07-31 13328846 core:RetainedEarningsAccumulatedLosses 2023-07-31 13328846 core:ShareCapital 2023-07-31 13328846 core:CurrentFinancialInstruments 2023-07-31 13328846 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 13328846 core:FurnitureFittingsToolsEquipment 2023-07-31 13328846 core:OtherPropertyPlantEquipment 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 13328846

Lower Weare Livery Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Lower Weare Livery Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Lower Weare Livery Limited

Company Information

Directors

Mrs N E Day

Mr N J Day

Registered office

34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

 

Lower Weare Livery Limited

(Registration number: 13328846)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,937

7,775

Current assets

 

Stocks

5

2,230

900

Debtors

2,325

-

Cash at bank and in hand

 

552

5,439

 

5,107

6,339

Creditors: Amounts falling due within one year

6

(8,588)

(9,040)

Net current liabilities

 

(3,481)

(2,701)

Net assets

 

456

5,074

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

356

4,974

Shareholders' funds

 

456

5,074

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Lower Weare Livery Limited

(Registration number: 13328846)
Balance Sheet as at 31 July 2024

Approved and authorised by the Board on 29 January 2025 and signed on its behalf by:
 

.........................................
Mrs N E Day
Director

.........................................
Mr N J Day
Director

 

Lower Weare Livery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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:
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

The principal place of business is:
Compton Bishop Farm
Old Coach Road
Lower Weare
Somerset
BS26 2JA

These financial statements were authorised for issue by the Board on 29 January 2025.

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.

The presentation currency of the financial statements is Pound Sterling (£).

 

Lower Weare Livery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

 

Lower Weare Livery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

2

Accounting policies (continued)

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 and machinery

25% straight line

Office equipment

33% 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 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.

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.

 

Lower Weare Livery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

2

Accounting policies (continued)

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Lower Weare Livery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

250

15,020

15,270

At 31 July 2024

250

15,020

15,270

Depreciation

At 1 August 2023

165

7,330

7,495

Charge for the year

83

3,755

3,838

At 31 July 2024

248

11,085

11,333

Carrying amount

At 31 July 2024

2

3,935

3,937

At 31 July 2023

85

7,690

7,775

5

Stocks

2024
£

2023
£

Hay and haylage

2,230

900

 

Lower Weare Livery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

7,738

8,019

Accruals and deferred income

850

1,000

Other creditors

-

21

8,588

9,040

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Related party transactions

Transactions with directors

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Mrs N E Day

Natalie Day

(10)

30,261

(29,382)

869

Mr N J Day

Neil day

(10)

36,966

(36,087)

869

Directors loan

 

Lower Weare Livery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Related party transactions (continued)

The overdrawn directors loan accounts were cleared within 9 months of the year end and as such no S455 provision has been included in these acounts.
These loans loans are interest free and repayable on demand.