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COMPANY REGISTRATION NUMBER: 11230962
Bourne Hill Holdings Limited
Filleted Unaudited Financial Statements
31 October 2024
Bourne Hill Holdings Limited
Financial Statements
Year ended 31 October 2024
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Bourne Hill Holdings Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Bourne Hill Holdings Limited
Year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bourne Hill Holdings Limited for the year ended 31 October 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
BROOKS & CO. Chartered Accountants
9 Cheam Road Ewell Epsom Surrey KT17 1SP
16 April 2025
Bourne Hill Holdings Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
5,065,580
5,154,038
Investments
5
100
100
------------
------------
5,065,680
5,154,138
Current assets
Debtors
6
4,349
47,199
Creditors: amounts falling due within one year
7
3,651,708
3,605,681
------------
------------
Net current liabilities
3,647,359
3,558,482
------------
------------
Total assets less current liabilities
1,418,321
1,595,656
Provisions
898,764
636,061
------------
------------
Net assets
519,557
959,595
------------
------------
Capital and reserves
Called up share capital
164,000
164,000
Revaluation reserve
2,861,899
2,632,124
Profit and loss account
( 2,506,342)
( 1,836,529)
------------
------------
Shareholders funds
519,557
959,595
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Bourne Hill Holdings Limited
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 16 April 2025 , and are signed on behalf of the board by:
Ms J Annett
Mr R B Standley
Director
Director
Company registration number: 11230962
Bourne Hill Holdings Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Cheam Road, Ewell, Epsom, KT17 1SP, Surrey.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Consolidation
The financial statements contain information about Bourne Hill Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Standley Holdings Limited, Registered office address: 9 Cheam Road, Epsom, England, KT17 1SP.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments relate to horses held by the company for shows. These are disclosed at fair value with any gain or losses arising taken to Statement of Comprehensive Income.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Wooden Stables
Plant and machinery
Fixtures and fittings
Equipment
Fixed assets investments
Total
£
£
£
£
£
£
Cost or valuation
At 1 Nov 2023
4,429
1,048,804
9,550
71,443
4,438,471
5,572,697
Additions
331,007
2,111
199,940
533,058
Disposals
( 319,689)
( 335,823)
( 655,512)
Revaluations
229,774
229,774
-------
------------
--------
---------
------------
------------
At 31 Oct 2024
4,429
1,060,122
11,661
271,383
4,332,422
5,680,017
-------
------------
--------
---------
------------
------------
Depreciation
At 1 Nov 2023
373,985
3,898
40,776
418,659
Charge for the year
187,155
2,457
33,265
222,877
Disposals
( 27,099)
( 27,099)
-------
------------
--------
---------
------------
------------
At 31 Oct 2024
534,041
6,355
74,041
614,437
-------
------------
--------
---------
------------
------------
Carrying amount
At 31 Oct 2024
4,429
526,081
5,306
197,342
4,332,422
5,065,580
-------
------------
--------
---------
------------
------------
At 31 Oct 2023
4,429
674,819
5,652
30,667
4,438,471
5,154,038
-------
------------
--------
---------
------------
------------
Fixed asset investments relate to horses that the company holds for shows. These being in the early stage of breeding have not been depreciated. The historical cost of these horses was £1,470,523. The directors have revalued them to £4,332,422 being their fair value as at 31st October 2024.
5. Investments
Shares in group undertakings
£
Cost
At 1 November 2023 and 31 October 2024
100
----
Impairment
At 1 November 2023 and 31 October 2024
----
Carrying amount
At 31 October 2024
100
----
At 31 October 2023
100
----
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Bourne Hill Stables Limited
Ordinary
100
6. Debtors
2024
2023
£
£
Other debtors
4,349
47,199
-------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
3,568,787
3,596,410
Social security and other taxes
50,800
Other creditors
32,121
9,271
------------
------------
3,651,708
3,605,681
------------
------------
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
898,764
636,061
---------
---------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
183,289
135,957
Revaluation of tangible assets
715,475
500,104
---------
---------
898,764
636,061
---------
---------
9. Directors' advances, credits and guarantees
During the year, Mr R Standley, a director of the company, made further advances to the company. The amount owed to Mr R Standley at the year-end totalled £ 2,271 (2023: £2,271). The advances are interest free and repayable on demand
10. Related party transactions
Included in the Creditors is a balance of £46,743 due to Bourne Hill Stables Limited and £3,522,044 to Standley Holding Limited.
11. Ultimate controlling party
The company was under the control of its parent company, Standley Holdings Limited by virtue of its control over the operations of the company throughout the current period.