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Registered Number:
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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COMPANY INFORMATION
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CONTENTS
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GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The principal activity of the group is the manufacture and distribution of horse feeds. There have not been any significant changes in the group’s principal activities in the year under review. The directors are not aware, at the date of the report, of any likely changes in the Group’s activities in the forthcoming year.
The chairman is pleased to report another successful year in terms of gross profit margin, which has been maintained against a backdrop of continued input price increases.
The Group and Company will continue to maintain its market share in the animal feed market in the UK and overseas.
These financial statements have been prepared on the going concern basis for the reasons set forth in note 2.3 to the financial statements.
The directors have assessed the risks and impact in terms of turnover, profit and cashflow, and ultimately believe the company will be self-sufficient and able to maintain a positive cash reserve for the twelve months following the signing of the audit report. As a result, the directors consider the preparation of the accounts on a going concern basis remains appropriate.
The group measures its financial performance using the following measures:
1) Retaining current customers alongside turnover growth from winning new customers is a key measure of the group’s success. Turnover for horse feed was £41,761,331 (2023: £43,205,590). 2) The gross profit percentage seeks to be maintained above 25%. This year's gross profit percentage has increased back up to to 26.8% (2023: 21.8%).
Operating Risk - The Company adheres to industry standard quality control and has regular third party testing to ensure standards are maintained.
Market Risk - Competitive pressures are a continuing risk to the Company. This risk is managed by continually reviewing the market and the products concerned. Market Risk - The Company monitors the effects of the inflation on all business inputs, affecting gross margin. Financial Risk - The only major financial risk is credit risk, which is managed by regularly reviewing trade debtors and the credit terms offered to customers. Financial Risk – The geopolitcal risks continue to have an effect on the energy and cereal prices, the directors have ensured they remain alert and responsive to any immediate changes.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
In accordance with Section 172 of the Companies Act, the directors have a duty to promote the success of the
Company. This requires each director of the Company to act in the way they consider, in good faith, would most likely promote the success of the Company for the benefits of its members as a whole and in doing so have regard to the: • Likely consequences of any decision in the long-term. • Interests of the Company’s employees. • Need to foster the Company's business relationships with suppliers, customers and others. • Desirability of the Company maintaining a reputation for high standards of business conduct. • Impact of the Company's operations on the community and the environment. • And the need to act fairly between members of the Company. Key stakeholders and how we engage: Engaging with stakeholders The Company is committed to being a responsible business. The success of our business is dependent on the support of all of our stakeholders. Building positive relationships with stakeholders that share our values is important to us, and working together towards shared goals assists us in delivering long-term sustainable success. Details of the Group’s key stakeholders and how we engage with them are set out below. Shareholders The Company’s principal shareholders are actively involved in the day-to-day operations of the business. They are members of the management team and participate in the decision making process to ensure that the actions of the business are aligned to its long term success. Colleagues Our people are key to our success, and we want them to be successful individually and as a team. Our key areas of focus include health and well-being, development opportunities, pay and benefits. We encourage dialogue and engagement throughout the business and reports from these discussions are made to the Board ensuring consideration is given to colleague needs. Customers Our ambition is to deliver excellent service to all our customers. We build strong lasting relationships with our customers and spend time with them regularly to understand their needs and views and listen to how we can improve our products for them. We communicate via social media, nutrition training and in person with particular emphasis placed on education for both our merchant and end user customers via our merchant training scheme and feed knowledge award. Other areas of focus include product and service quality and price. Suppliers We build strong relationships with our suppliers to develop mutually beneficial and lasting partnerships. The Management team recognises that relationships with suppliers are important to the Group’s long-term success and is briefed on supplier feedback and issues on a regular basis.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Communities
The key areas of focus include creating opportunities to recruit and develop local people and to understand and reduce our impact on the environment. F.H. Nash has recently made a substantial investment in solar power, LED lighting and the replacement of electric motors with the most efficient IE4 versions in order to reduce its carbon footprint. Efforts are made to source ingredients as locally as possible to reduce food miles, and where possible, the use of plastic packaging is being reduced. These issues are reported to the Board and taken into account when considering future actions. Government and regulators Key areas of focus are compliance with laws and regulations, health and safety and product safety. The Board is updated on legal and regulatory developments and takes these into account when considering future actions.
The streamlined Energy and Carbon Reporting regulation came into effect on 1st April 2021. The Company is required to report the emission energy consumption for the year ending 30th September 2024 to coincide with the financial reporting period. No subsidiary information has been included as they do not meet the ESOS eligibility criteria individually.
Following the location-based methodology, in relation to production scope 2,017,489 kg CO2e (2023: 1,961,410) of energy was consumed including 975,848 CO2e (2023: 975,598) in respect of deliveries to customers. A further 285,365 kg per CO2e (2023: 761,644) under scope 2 energy was consumed. In total, average emissions per tonne for the year were reduced to 37.08 kgCo2e (2023: 43.39). Solar panel installation has had the biggest impact on these numbers. The company continues to review and improve where possible, including installing solar panels and LED lighting.
This report was approved by the board on 19 June 2025 and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors present their report and the financial statements for the year ended 30 September 2024.
The directors who served during the year and to the date of approval were:
The profit for the year, after taxation, amounted to £1,419,900 (2023 - £1,202,349).
The directors paid a dividend on 22 March 2024 amounting to 24.0p (2023: 22.0p) per share on the ordinary shares and 1.0p (2023: 1.0p) per share on the preference shares.
The directors paid a second dividend on 21 June 2024 amounting to 24.0p (2023: 22.0p) per share on the ordinary shares and 1.0p (2023: 1.0p) per share on the preference shares. The directors paid a third dividend on 20 September 2024 amounting to 24.0p (2023: 22.0p) per share on the ordinary shares and 1.0p (2023: 1.0p) per share on the preference shares. The directors recommended a final dividend to be paid on 27 December 2024 amounting to 24.0p per share on the ordinary shares and 1.0p per share on the preference shares.
Information on future developments is included in the Group Strategic Report.
Information on engagement with suppliers, customers and others is included in the Group Strategic Report.
Information on Greenhouse gas emissions, energy consumption and energy efficiency action is included in the Group Strategic Report.
Other than any issues that may be addressed within the Group Strategic Report there have been no significant events affecting the Group since the year end.
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F.H. NASH LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On 28 March 2024 our auditor, SB Audit LLP, merged with Sumer Auditco Limited. Accordingly SB Audit LLP
formally resigned as the Company's auditor with the directors duly appointing Sumer Auditco Limited to fill the vacancy arising. The auditor, Sumer Auditco Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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F.H. NASH LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
This report was approved by the board on
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF F.H. NASH LIMITED
We have audited the financial statements of F.H. Nash Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 September 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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F.H. NASH LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF F.H. NASH LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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F.H. NASH LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF F.H. NASH LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the directors (as required by auditing standards), inspection of the Group and parent company’s regulatory and legal correspondence and discussed with the directors the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the Group and parent company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the Group and parent company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: compliance with the Universal Feed Assurance Scheme (UFAS), health and safety, employment law and GDPR. Auditing standards limit the required audit procedures to identify non compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the Group and parent company complies with such regulations; enquiries of management and those charged with governance concerning any actual or potential litigation or claims, inspection of any relevant legal documentation, review of board minutes, testing the appropriateness of journal entries and the performance of analytical review to identify any unexpected movements in account balances which may be indicative of fraud.
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F.H. NASH LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF F.H. NASH LIMITED (CONTINUED)
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
820 The Crescent
Colchester Business Park
Essex
CO4 9YQ
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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CONSOLIDATED BALANCE SHEET
AS AT 30 SEPTEMBER 2024
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CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 21 to 42 form part of these financial statements.
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COMPANY BALANCE SHEET
AS AT 30 SEPTEMBER 2024
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COMPANY BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
Profit after tax for the financial year of F. H. Nash Limited was £1,779,200 (2023: £1,100,968).
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 21 to 42 form part of these financial statements.
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
F H Nash Limited is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The company's registration number is 00787674 and the address of the registered office is Four Elms Mill, Bardfield Saling, Braintree, Essex, CM7 5EJ. The principal activity is the manufacture and distribution of horse feeds.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The directors have considered the financial position of the Group by reviewing monthly management accounts, future orders and planned expenditure, alongside the balance sheet and believe that the group is well placed to manage its business risks successfully despite an uncertain economic outlook. The Group also have sufficient cash headroom to continue operating for the foreseeable future.
After making enquiries the directors have a reasonable expectation that the Company and Group have adequate resources to continue in operational existence for the foreseeable future and will remain able to meet its liabilities as they fall due. Accordingly, the directors continue to adopt the going concern basis in preparing the annual report and financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
Sale of animal feed Sale of animal feed is recognised at the point of passing legal title to the customer which is normally upon delivery date, but there are a few clients who collect from the warehouse too so in those circumstances upon collection. Where goods are travelling a fair distance the goods remain in the ownership of F.H. Nash Limited until delivery unless there is a specific ownership transfer point agreed within the contract e.g. the customer arranges collection from a port. The company may potentially make some year end adjustments specific to these longer transfer dates. Stud farming activities Stud farming activities are generally made up of livery income and the sale of horses. Livery income is recognised monthly as livery is charged on a monthly basis. Horse sales are recognised upon the date of the auction where the sale price is agreed, and both parties sign contracts and exchange ownership information on the same day. Sale of racehorses Horse sales are recognised upon the date of the auction where the sale price is agreed, and both parties sign contracts and exchange ownership information on the same day.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Bloodstock
For the bloodstock held in the group which has been bred nternally, cost is calculated as the nomination fee and direct costs of maintaining the mare through its pregnancy. Broodmares are depreciated to their estimate residual value on a straight line basis over 3-10 years. Carrying values are routinely reviewed by the directors and where any impairment is identified, the value of the mare is reduced and the impairment is immediately charged to profit or loss. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amounts and are recognised in profit or loss.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment. Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets Financial assets are assessed for indicators of impairment at each reporting date. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors and loans due to fellow group companies are initially measured at their transaction price after transaction costs. Discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
Some of the comparatives in respect of the statement of cashflows under the investing and financing activities have been moved to be under a more appropriate heading. This has no effect on the reported result for the prior year nor the prior year closing reserves.
The comparatives in respect of cash at bank and in hand has been restated to classify the deposit account as a current asset investment due to the money having an initial maturity of over three months. This also has no effect on the reported result for the prior year nor the prior year closing reserves.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affect its both current and future periods. The only critical judgement, apart from those involving estimations (which are dealt with separately below), that the directors have made in the process of applying the Group's accounting policies and that have the most significant effect on the amounts recognised in the financial statements is the useful economic life of tangible fixed assets. The useful lives and residual values are reassessed on a regular basis and amended when necessary to reflect current circumstances. Key source of estimation uncertainty Valuation of horses - the horses are of a material value and include the directors' assessment of impairment. Impairment is assessed based on various factors, including the directors' knowledge of the horses and the wider marketplace. Stock provisions - stocks are also material and are valued based on the directors' assessment of estimated realisable value. Bad debt provisions - debtor balances remain significant. All foreseen bad debts are fully estimated by the directors and are provided for as soon as the need is deemed to arise.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
9.Taxation (continued)
There were no factors that may affect future tax charges.
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