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COMPANY REGISTRATION NUMBER: 4246545
Moor Farm Equestrian Centre Ltd
Filleted Unaudited Financial Statements
31 July 2024
Moor Farm Equestrian Centre Ltd
Financial Statements
Year ended 31 July 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 4
Moor Farm Equestrian Centre Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
18
24
Current assets
Stocks
419
499
Debtors
5
850
850
Cash at bank and in hand
33,181
29,555
--------
--------
34,450
30,904
Creditors: amounts falling due within one year
6
( 30,071)
( 28,018)
--------
--------
Net current assets
4,379
2,886
-------
-------
Total assets less current liabilities
4,397
2,910
-------
-------
Capital and reserves
Called up share capital
7
1
1
Profit and loss account
4,396
2,909
-------
-------
Shareholders funds
4,397
2,910
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 April 2025 , and are signed on behalf of the board by:
Mrs J. Ridge
Director
Company registration number: 4246545
Moor Farm Equestrian Centre Ltd
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Moor Farm, Troopers Inn, Haverfordwest, Pembrokeshire, SA62 4NL.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 August 2023 and 31 July 2024
761
761
----
----
Depreciation
At 1 August 2023
737
737
Charge for the year
6
6
----
----
At 31 July 2024
743
743
----
----
Carrying amount
At 31 July 2024
18
18
----
----
At 31 July 2023
24
24
----
----
5. Debtors
2024
2023
£
£
Trade debtors
850
850
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
27,999
26,000
Other creditors
2,072
2,018
--------
--------
30,071
28,018
--------
--------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
8. Related party transactions
The company was under the control of Mrs J. Ridge , the managing director, throughout the current and previous year by virtue of her interest in 100% of the company's issued ordinary share capital. No transactions with related parties were undertaken such as are required to be disclosed under FRS102.