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Registered number: 14356719










HERITAGE THOROUGHBREDS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
HERITAGE THOROUGHBREDS LTD
REGISTERED NUMBER: 14356719

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
  
3,664
-

  
3,664
-

Current assets
  

Debtors: amounts falling due within one year
  
28,921
-

Cash at bank and in hand
  
77,616
2

  
106,537
2

Creditors: amounts falling due within one year
  
(34,828)
-

Net current assets
  
 
 
71,709
 
 
2

Total assets less current liabilities
  
75,373
2

Creditors: amounts falling due after more than one year
  
(92,697)
-

  

Net (liabilities)/assets
  
(17,324)
2


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(17,326)
-

  
(17,324)
2


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 June 2025.

Page 1

 
HERITAGE THOROUGHBREDS LTD
REGISTERED NUMBER: 14356719
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024




Thomas Norman Hall King
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
HERITAGE THOROUGHBREDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Heritage Thoroughbreds Ltd is a Private Company limited by shares which was incorporated in England and Wales.
The company's registered office is:
Barton Yard, Manton Park Stud, Marlborough, Wiltshire, SN8 4HB.
The principal activity of the company in the year was the raising of horses and other equines and boarding and care of equines.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
HERITAGE THOROUGHBREDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance basis
Office equipment
-
20%
reducing balance 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
HERITAGE THOROUGHBREDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 0).


4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


Additions
3,907
918
4,825



At 30 September 2024

3,907
918
4,825



Depreciation


Charge for the year on owned assets
977
184
1,161



At 30 September 2024

977
184
1,161



Net book value



At 30 September 2024
2,930
734
3,664



At 30 September 2023
-
-
-


5.


Debtors

2024
2023
Page 5

 
HERITAGE THOROUGHBREDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.Debtors (continued)

£
£


Trade debtors
19,923
-

Other debtors
8,998
-

28,921
-


Included within other debtors is a loan to the directors, amounting to £3,998 (2023 - £NIL). This was repaid to the company within 9 months of the year end. 




6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
77,616
2

77,616
2



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
28,400
-

Trade creditors
3,204
-

Other taxation and social security
724
-

Accruals and deferred income
2,500
-

34,828
-



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
92,697
-

92,697
-


Page 6

 
HERITAGE THOROUGHBREDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
28,400
-


28,400
-


Amounts falling due 2-5 years

Bank loans
92,697
-


92,697
-


121,097
-


 
Page 7