Emma Bishop Racing Limited 12455264 false 2024-03-01 2025-02-28 2025-02-28 The principal activity of the company is Activities of racehorse owners Digita Accounts Production Advanced 6.30.9574.0 true true 12455264 2024-03-01 2025-02-28 12455264 2025-02-28 12455264 bus:OrdinaryShareClass1 2025-02-28 12455264 core:CurrentFinancialInstruments 2025-02-28 12455264 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 12455264 core:LandBuildings 2025-02-28 12455264 core:OtherPropertyPlantEquipment 2025-02-28 12455264 bus:SmallEntities 2024-03-01 2025-02-28 12455264 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 12455264 bus:FilletedAccounts 2024-03-01 2025-02-28 12455264 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 12455264 bus:RegisteredOffice 2024-03-01 2025-02-28 12455264 bus:Director1 2024-03-01 2025-02-28 12455264 bus:OrdinaryShareClass1 2024-03-01 2025-02-28 12455264 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 12455264 bus:Agent1 2024-03-01 2025-02-28 12455264 core:FurnitureFittings 2024-03-01 2025-02-28 12455264 core:LandBuildings 2024-03-01 2025-02-28 12455264 core:OtherPropertyPlantEquipment 2024-03-01 2025-02-28 12455264 core:PlantMachinery 2024-03-01 2025-02-28 12455264 countries:AllCountries 2024-03-01 2025-02-28 12455264 2024-02-29 12455264 core:LandBuildings 2024-02-29 12455264 core:OtherPropertyPlantEquipment 2024-02-29 12455264 2023-03-01 2024-02-29 12455264 2024-02-29 12455264 bus:OrdinaryShareClass1 2024-02-29 12455264 core:CurrentFinancialInstruments 2024-02-29 12455264 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 12455264 core:LandBuildings 2024-02-29 12455264 core:OtherPropertyPlantEquipment 2024-02-29 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12455264

Emma Bishop Racing Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Emma Bishop Racing Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Emma Bishop Racing Limited

Company Information

Director

Mrs E.J. Bishop

Registration number

12455264

Registered office

21 Market Place
Cirencester
Gloucestershire
GL7 2NX

Accountants

mca Shepherd Smail 21 Market Place
Cirencester
Gloucestershire
GL7 2NX

 

Emma Bishop Racing Limited

(Registration number: 12455264)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

615,032

613,140

Current assets

 

Stocks

5

39,447

60,793

Debtors

6

22,853

8,279

Cash at bank and in hand

 

43,599

40,189

 

105,899

109,261

Creditors: Amounts falling due within one year

7

(1,024,884)

(868,968)

Net current liabilities

 

(918,985)

(759,707)

Net liabilities

 

(303,953)

(146,567)

Capital and reserves

 

Retained earnings

(303,953)

(146,567)

Shareholders' deficit

 

(303,953)

(146,567)

For the financial year ending 28 February 2025 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 her 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 23 June 2025
 

Mrs E.J. Bishop

Director

 

Emma Bishop Racing Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
21 Market Place
Cirencester
Gloucestershire
GL7 2NX

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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:

 

Emma Bishop Racing Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing Balance

Land and buildings

Over 20 years

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2024 - 7).

 

Emma Bishop Racing Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2024

635,032

136,279

771,311

Additions

47,333

2,500

49,833

At 28 February 2025

682,365

138,779

821,144

Depreciation

At 1 March 2024

74,681

83,490

158,171

Charge for the year

34,118

13,823

47,941

At 28 February 2025

108,799

97,313

206,112

Carrying amount

At 28 February 2025

573,566

41,466

615,032

At 29 February 2024

560,351

52,789

613,140

Included within the net book value of land and buildings above is £573,566 (2024 - £560,351) in respect of an arena and paddocks.
 

5

Stocks

2025
£

2024
£

Other inventories

39,447

60,793

6

Debtors

Current

2025
£

2024
£

Trade debtors

22,853

8,279

 

22,853

8,279

 

Emma Bishop Racing Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

422

2,635

Taxation and social security

1,502

5,729

Accruals and deferred income

3,075

2,785

Other creditors

1,019,885

857,819

1,024,884

868,968

8

Share capital

Allotted, called up and fully paid shares

 

2025

2024

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100