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REGISTERED NUMBER: 02103593 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

MINSTER ENTERPRISES LIMITED

MINSTER ENTERPRISES LIMITED (REGISTERED NUMBER: 02103593)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MINSTER ENTERPRISES LIMITED

Company Information
for the year ended 31 December 2024







DIRECTORS: W F H Carson
Miss S Wainwright





REGISTERED OFFICE: 9 Worton Park
Cassington
Witney
Oxfordshire
OX29 4SX





REGISTERED NUMBER: 02103593 (England and Wales)





ACCOUNTANTS: Camerons Accountancy Consultants Limited
Chartered Accountants
9 Worton Park
Cassington
Witney
Oxfordshire
OX29 4SX

MINSTER ENTERPRISES LIMITED (REGISTERED NUMBER: 02103593)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 245,237 276,649
Investments 5 65,625 56,250
310,862 332,899

CURRENT ASSETS
Stocks 879,057 1,374,700
Debtors 6 142,655 310,676
Prepayments and accrued income 260,433 357,910
Cash at bank 383,262 165,026
1,665,407 2,208,312
CREDITORS
Amounts falling due within one year 7 679,471 383,470
NET CURRENT ASSETS 985,936 1,824,842
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,296,798

2,157,741

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,296,796 2,157,739
SHAREHOLDERS' FUNDS 1,296,798 2,157,741

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





W F H Carson - Director


MINSTER ENTERPRISES LIMITED (REGISTERED NUMBER: 02103593)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Minster Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property improvements - 2% on cost
Plant and machinery - 25% on reducing balance
Horseboxes and tractors - 25% on reducing balance
Motor vehicles - 25% on cost

Stocks
In accordance with Financial Reporting Standard 102, bloodstock is classified as stock.

Bloodstock encompasses the broodmares, foals and horses in training and is valued using the fair value model, with the directors providing an annual valuation of each individual horse held at the year end.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Fixed asset investments consists of stallion shares, which entitle the company to a set number of coverings by a named stallion, and are stated at the lower of cost and net realisable value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

MINSTER ENTERPRISES LIMITED (REGISTERED NUMBER: 02103593)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Horseboxes
Property Plant and and Motor
improvements machinery tractors vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024
and 31 December 2024 407,870 76,882 223,000 48,580 756,332
DEPRECIATION
At 1 January 2024 227,664 67,417 136,022 48,580 479,683
Charge for year 7,267 2,400 21,745 - 31,412
At 31 December 2024 234,931 69,817 157,767 48,580 511,095
NET BOOK VALUE
At 31 December 2024 172,939 7,065 65,233 - 245,237
At 31 December 2023 180,206 9,465 86,978 - 276,649

5. FIXED ASSET INVESTMENTS
Stallion
shares
£   
COST OR VALUATION
At 1 January 2024 56,250
Revaluations 9,375
At 31 December 2024 65,625
NET BOOK VALUE
At 31 December 2024 65,625
At 31 December 2023 56,250

Cost or valuation at 31 December 2024 is represented by:

Stallion
shares
£   
Valuation in 2022 (9,375 )
Valuation in 2023 (9,375 )
Valuation in 2024 9,375
Cost 75,000
65,625

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 142,541 310,676
Other debtors 114 -
142,655 310,676

MINSTER ENTERPRISES LIMITED (REGISTERED NUMBER: 02103593)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 279,022 33,223
Taxation and social security 21,731 97,787
Other creditors 378,718 252,460
679,471 383,470

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31st December 2024, Minster Enterprises Limited owed its director, Mr W F H Carson, £372,160 (£245,800 in 2023). The loan is interest free and repayable on demand.

9. RELATED PARTY DISCLOSURES

The company has rent free use of property and land known as Minster Stud, which is owned by the director of the company.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by its director, Mr W F H Carson, who is also the sole shareholder.