Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-3042023-07-01falseSupport activities for animal production4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00376663 2023-07-01 2024-06-30 00376663 2022-07-01 2023-06-30 00376663 2024-06-30 00376663 2023-06-30 00376663 c:Director1 2023-07-01 2024-06-30 00376663 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 00376663 d:Buildings d:LongLeaseholdAssets 2024-06-30 00376663 d:Buildings d:LongLeaseholdAssets 2023-06-30 00376663 d:MotorVehicles 2023-07-01 2024-06-30 00376663 d:MotorVehicles 2024-06-30 00376663 d:MotorVehicles 2023-06-30 00376663 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00376663 d:FurnitureFittings 2023-07-01 2024-06-30 00376663 d:FurnitureFittings 2024-06-30 00376663 d:FurnitureFittings 2023-06-30 00376663 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00376663 d:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 00376663 d:OtherPropertyPlantEquipment 2024-06-30 00376663 d:OtherPropertyPlantEquipment 2023-06-30 00376663 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00376663 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00376663 d:PatentsTrademarksLicencesConcessionsSimilar 2023-07-01 2024-06-30 00376663 d:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 00376663 d:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 00376663 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 00376663 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 00376663 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 00376663 d:CurrentFinancialInstruments 2024-06-30 00376663 d:CurrentFinancialInstruments 2023-06-30 00376663 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 00376663 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 00376663 d:ShareCapital 2024-06-30 00376663 d:ShareCapital 2023-06-30 00376663 d:CapitalRedemptionReserve 2024-06-30 00376663 d:CapitalRedemptionReserve 2023-06-30 00376663 d:RetainedEarningsAccumulatedLosses 2024-06-30 00376663 d:RetainedEarningsAccumulatedLosses 2023-06-30 00376663 c:FRS102 2023-07-01 2024-06-30 00376663 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 00376663 c:FullAccounts 2023-07-01 2024-06-30 00376663 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00376663 6 2023-07-01 2024-06-30 00376663 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 00376663










CLIVEDEN STUD LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
CLIVEDEN STUD LIMITED
REGISTERED NUMBER: 00376663

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Biological assets
 4 
350,000
708,000

Tangible assets
 5 
33,071
36,744

Investments
  
3,333
-

  
386,404
744,744

Current assets
  

Debtors: amounts falling due within one year
 7 
898,411
625,622

Cash at bank and in hand
  
786
6,171

  
899,197
631,793

  

Creditors: amounts falling due within one year
 8 
(123,597)
(168,815)

Net current assets
  
 
 
775,600
 
 
462,978

Total assets less current liabilities
  
1,162,004
1,207,722

  

Net assets
  
1,162,004
1,207,722


Capital and reserves
  

Called up share capital 
  
332,800
332,800

Capital redemption reserve
  
15,205
15,205

Profit and loss account
  
813,999
859,717

  
1,162,004
1,207,722


Page 1

 
CLIVEDEN STUD LIMITED
REGISTERED NUMBER: 00376663

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

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 comprehensive income 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 by: 




P W Freedman
Director

Date: 27 June 2025

Page 2

 
CLIVEDEN STUD LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Cliveden Stud Limited is a private company limited by shares, domiciled in England and Wales, registration number 00376663.  
The registered office of Cliveden Stud Limited is 2 Communications Road, Greenham Business Park, Greenham, Newbury, Berkshire, RG19 6AB.
The principal place of business of Cliveden Stud Limited is Wergs Manor, Old Burghclere, Newbury, Berkshire, RG20 9NH.

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

Going concern

The nature of the business is that income and profitability is expected to fluctuate, and the Directors expect to provide appropriate funding where required to enable the entity to continue to meet its liabilities as they fall due.

 
2.3

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

 
CLIVEDEN STUD LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.3
Revenue (continued)


Page 4

 
CLIVEDEN STUD LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

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, using the straight-line method.

Depreciation is provided on the following basis:

Improvements to property
-
10%
Motor vehicles
-
20%
Fixtures & fittings
-
20%
Other fixed assets
-
2%

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.

  
2.5

Biological assets

Biological assets comprise thoroughbred broodmares, yearlings, foals and horses in training.  Broodmares, yearlings and horses in training are measured at fair value less costs to sell, where fair value is taken to be estimated market value.  Foals are measured at fair value less costs to sell where cost of nomination plus keep costs is considered to reasonably approximate to fair value due to the early stage of life.  Broodmares, yearlings and foals are considered to be one class of asset.  

 
2.6

Valuation of investments

Investment relates to shares in racing syndicate partnerships and are measured at cost less accumulated impairment.

 
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.

 
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

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 (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are
Page 5

 
CLIVEDEN STUD LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.10

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.

  
2.11

Pensions

Defined contribution pension plan.
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administrated funds.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 6

 
CLIVEDEN STUD LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Biological assets




Broodmares & youngstock
Horses in training
Total

£
£
£



Cost


At 1 July 2023
688,000
20,000
708,000


Disposals
(88,000)
(20,000)
(108,000)


Revaluation surplus
(250,000)
-
(250,000)



At 30 June 2024

350,000
-
350,000






Net book value



At 30 June 2024
350,000
-
350,000



At 30 June 2023
688,000
20,000
708,000



Page 7

 
CLIVEDEN STUD LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Improvements to property
Motor vehicles
Fixtures & fittings
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 July 2023
11,019
15,034
14,856
45,923
86,832


Disposals
(11,019)
(15,034)
-
-
(26,053)



At 30 June 2024

-
-
14,856
45,923
60,779



Depreciation


At 1 July 2023
8,264
15,034
14,856
11,934
50,088


Charge for the year on owned assets
-
-
-
918
918


Disposals
(8,264)
(15,034)
-
-
(23,298)



At 30 June 2024

-
-
14,856
12,852
27,708



Net book value



At 30 June 2024
-
-
-
33,071
33,071



At 30 June 2023
2,755
-
-
33,989
36,744


6.


Fixed asset investments





Trade investments

£





Additions
3,333



At 30 June 2024
3,333





7.


Debtors

2024
2023
£
£


Other debtors
736,264
468,372

Prepayments and accrued income
-
274

Section 455 tax
162,147
156,976

898,411
625,622

Page 8

 
CLIVEDEN STUD LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.Debtors (continued)


Included within other debtors is a loan to a director, amounting to £735,445 (2023: £467,147).


8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
259
23,588

Corporation tax
111,722
140,286

Other taxation and social security
3,996
-

Accruals and deferred income
7,620
4,941

123,597
168,815



9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £nil (2023: £175).  Included in creditors is a balance owed in relation to pension payments of £nil (2023: £nil).


10.


Related party transactions

Cliveden Bloodstock Limited, a company controlled by P W Freedman, owns 5.5% of the share capital in Cliveden Stud Limited. The balance due from Cliveden Bloodstock Limited at 30 June 2023 was £818 (2023: £818).
At the year end a Director owed the company £735,445 (2023: £467,147). 
During the year the company made advances of £454,027 (2023: £315,429) to the Director, and the Director made repayments of £185,729 (2023: £nil).
The loan is interest bearing at a rate of 2.5% and repayable on demand.


11.


Controlling party

P W Freedman, a director of the company, is the controlling party of Cliveden Stud Limited.


Page 9