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REGISTERED NUMBER: OC395792 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Clipper BCS LLP

Clipper BCS LLP (Registered number: OC395792)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clipper BCS LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Knaresborough Investments Limited
S N Parkin
Branton Court Stables Limited





REGISTERED OFFICE: Knaresborough Group
1 City West
Gelderd Road
Leeds
LS12 6NJ





REGISTERED NUMBER: OC395792 (England and Wales)






Clipper BCS LLP (Registered number: OC395792)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £   
FIXED ASSETS
Tangible assets 5 6,225,713 6,685,973
Investments 6 100 -
6,225,813 6,685,973

CURRENT ASSETS
Stocks 23,794,527 38,292,544
Debtors 7 56,338,070 30,814,021
Prepayments and accrued income 2,008,555 1,066,979
Cash in hand 131,962 73,747
82,273,114 70,247,291
CREDITORS
Amounts falling due within one year 8 (8,712,091 ) (1,706,569 )
NET CURRENT ASSETS 73,561,023 68,540,722
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,786,836

75,226,695

CREDITORS
Amounts falling due after more than
one year

9

-

(7,417

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

79,786,836

75,219,278

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 79,786,836 75,219,278
79,786,836 75,219,278

TOTAL MEMBERS' INTERESTS
Members' other interests 79,786,836 75,219,278
Amounts due from members 7 (45,271,164 ) (25,123,389 )
34,515,672 50,095,889

Clipper BCS LLP (Registered number: OC395792)

Balance Sheet - continued
31 March 2024


The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 8 May 2025 and were signed by:





Knaresborough Investments Limited - Designated member

Clipper BCS LLP (Registered number: OC395792)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Clipper BCS LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. STATEMENT OF COMPLIANCE

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Clipper BCS LLP (Registered number: OC395792)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed 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.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Freehold property - 0%
Property improvements - 10% RL
Plant and machinery - 15% RL
Fixtures and fittings - 10% RL
Motor vehicles - 20% RL
Equipment - 15% RL

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Clipper BCS LLP (Registered number: OC395792)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Stocks
Bloodstock is split into the following categories:

Stud farm:
Stallions and stallion shares
Broodmares
Yearlings
Foals

Racing:
Horses in training.

Bloodstock is valued individually at the lower of cost and net realisable value with the exception of horses that have been transferred to or from training. These are valued individually at the lower of valuation at the date of transfer and valuation at the balance sheet date.

Stallions and stallion shares
The book value of each stallion or stallion share is generally written off on a straight-line basis so that it is nil at the end of the year in which the stallion reaches fifteen years of age. In exceptional circumstances, where this method does not give a reasonable approximation of an individual stallion's net realisable value, a more appropriate valuation is used. It is not usually appropriate to adjust a stallion's book value upwards as there is limited market for older stallions.

Broodmares
The book value of each broodmare is considered on an annual basis and impairment adjustments are made where necessary. This is considered to be more appropriate than applying a systematic depreciation charge for this category of bloodstock.

Foals and yearlings
The cost of homebred foals is determined as the open market valuation of the appropriate nomination fee, or the actual fee paid, plus the cost of keeping the mare during the gestation period. The cost of foals and yearlings is increased by the cost of their keep from the date of their weaning, which is assumed to be 1st October, until they are sold or transferred to training. The cost of foals and yearlings is not depreciated. Impairment adjustments are made where necessary.

Horses in training
The book value of each horse in training is considered on an annual basis and impairment adjustments are made where necessary. This is considered to be more appropriate than applying a systematic depreciation charge for this category of bloodstock.

Other inventories
Other inventories comprise purchased fee and bedding valued at the lower of cost and net realisable value.

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.

Clipper BCS LLP (Registered number: OC395792)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. EMPLOYEE INFORMATION

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 6,884,857 893,579 7,778,436
Additions 70,059 54,841 124,900
At 31 March 2024 6,954,916 948,420 7,903,336
DEPRECIATION
At 1 April 2023 573,782 518,681 1,092,463
Charge for year 517,284 67,876 585,160
At 31 March 2024 1,091,066 586,557 1,677,623
NET BOOK VALUE
At 31 March 2024 5,863,850 361,863 6,225,713
At 31 March 2023 6,311,075 374,898 6,685,973

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaki
£   
COST
Additions 100
At 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other debtors 56,338,070 30,814,021

Clipper BCS LLP (Registered number: OC395792)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts - 17,784
Trade creditors 4,141,956 1,606,200
Taxation and social security 41,032 16,250
Other creditors 4,529,103 66,335
8,712,091 1,706,569

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts - 7,417