Brookhouse Racing Ltd 14224145 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is the training of thoroughbred racehorses. Digita Accounts Production Advanced 6.30.9574.0 true true 14224145 2023-08-01 2024-07-31 14224145 2024-07-31 14224145 bus:Director1 1 2024-07-31 14224145 core:CurrentFinancialInstruments 2024-07-31 14224145 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 14224145 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 14224145 core:OfficeEquipment 2024-07-31 14224145 core:PlantMachinery 2024-07-31 14224145 core:OtherRelatedParties 2024-07-31 14224145 bus:SmallEntities 2023-08-01 2024-07-31 14224145 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 14224145 bus:FilletedAccounts 2023-08-01 2024-07-31 14224145 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 14224145 bus:RegisteredOffice 2023-08-01 2024-07-31 14224145 bus:Director1 2023-08-01 2024-07-31 14224145 bus:Director1 1 2023-08-01 2024-07-31 14224145 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 14224145 core:OfficeEquipment 2023-08-01 2024-07-31 14224145 core:PlantMachinery 2023-08-01 2024-07-31 14224145 core:OtherRelatedParties 2023-08-01 2024-07-31 14224145 countries:EnglandWales 2023-08-01 2024-07-31 14224145 2023-07-31 14224145 bus:Director1 1 2023-07-31 14224145 core:OfficeEquipment 2023-07-31 14224145 core:PlantMachinery 2023-07-31 14224145 core:OtherRelatedParties 2023-07-31 14224145 2022-07-08 2023-07-31 14224145 2023-07-31 14224145 bus:Director1 1 2023-07-31 14224145 core:CurrentFinancialInstruments 2023-07-31 14224145 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 14224145 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 14224145 core:OfficeEquipment 2023-07-31 14224145 core:PlantMachinery 2023-07-31 14224145 core:OtherRelatedParties 2023-07-31 14224145 bus:Director1 1 2022-07-08 2023-07-31 14224145 core:OtherRelatedParties 2022-07-08 2023-07-31 14224145 bus:Director1 1 2022-07-07 iso4217:GBP xbrli:pure

Registration number: 14224145

Brookhouse Racing Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Brookhouse Racing Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Brookhouse Racing Ltd

(Registration number: 14224145)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,015

7,924

Current assets

 

Stocks

5

-

50,000

Debtors

6

31,417

52,510

Cash at bank and in hand

 

18

17,756

 

31,435

120,266

Creditors: Amounts falling due within one year

7

(230,189)

(245,155)

Net current liabilities

 

(198,754)

(124,889)

Total assets less current liabilities

 

(190,739)

(116,965)

Creditors: Amounts falling due after more than one year

7

(502,822)

(127,135)

Net liabilities

 

(693,561)

(244,100)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(693,661)

(244,200)

Shareholders' deficit

 

(693,561)

(244,100)

 

Brookhouse Racing Ltd

(Registration number: 14224145)
Balance Sheet as at 31 July 2024

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.

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.

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 23 April 2025
 

.........................................
Mr Benjamin Frank Brookhouse
Director

 

Brookhouse Racing Ltd

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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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

As at 31 July 2024 the company had net liabilities of £693,561 and net current liabilities of £198,754. Included within creditors falling due after more than one year is the sum of £502,822 which is owed to a related party. The related party and the director have confirmed that this sum will only be repayable on the express condition that the company will remain solvent immediately following repayment. They have further confirmed their support of the company for a minimum of 12 months following the approval of these accounts.

The director is therefore of the view that Brookhouse Racing Limited will have sufficient resources available to meet its liabilities as they fall due for the foreseeable future. The financial statements have therefore been prepared on the going concern basis, which assumes that this will be the case.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of training and keep fees and bloodstock sales during the year in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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 and machniery

20% reducing balance

Office Equipment

25% reducing balance

 

Brookhouse Racing Ltd

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

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Blooodstock is valued individually at the lower of cost and net realisable value.

Trade creditors

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

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 19 (2023 - 13).

 

Brookhouse Racing Ltd

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

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2023

2,095

6,748

8,843

Additions

-

2,128

2,128

At 31 July 2024

2,095

8,876

10,971

Depreciation

At 1 August 2023

336

582

918

Charge for the year

352

1,686

2,038

At 31 July 2024

688

2,268

2,956

Carrying amount

At 31 July 2024

1,407

6,608

8,015

At 31 July 2023

1,759

6,165

7,924

5

Stocks

2024
£

2023
£

Bloodstock for resale

-

50,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

31,417

37,754

Other debtors

-

14,756

 

31,417

52,510

 

Brookhouse Racing Ltd

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

76,618

147,156

Taxation and social security

69,382

89,084

Other creditors

84,189

8,915

230,189

245,155

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

502,822

127,135

8

Related party transactions

Transactions with the director

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Mr Benjamin Frank Brookhouse

Directors Loan

14,756

29,545

(112,214)

(67,913)

2023

At 8 July 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Mr Benjamin Frank Brookhouse

Directors Loan

-

52,284

(37,528)

14,756

 

Brookhouse Racing Ltd

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

Summary of transactions with other related parties

Mr R S Brookhouse (Director's father)
 

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

127,135

127,135

Advanced

375,687

375,687

At end of period

502,822

502,822

2023

Other related parties
£

Total
£

Advanced

127,135

127,135

At end of period

127,135

127,135