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Registration number: SC679289

Gillon Bloodstock Ltd

Unaudited Filleted Financial Statements

for the Period from 1 November 2023 to 31 March 2025

 

Gillon Bloodstock Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Gillon Bloodstock Ltd

Company Information

Director

Mr Christopher Gillon

Registered office

Roxburgh Estates Office
Kelso
TD5 7SF

Accountants

Deans Accountants And Business Advisors Ltd 27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

 

Gillon Bloodstock Ltd

(Registration number: SC679289)
Balance Sheet as at 31 March 2025

Note

2025
£

2023
£

Fixed assets

 

Tangible assets

4

26,957

-

Current assets

 

Stocks

5

11,890

-

Debtors

6

24,902

-

Cash at bank and in hand

 

9,537

100

 

46,329

100

Creditors: Amounts falling due within one year

7

(55,919)

-

Net current (liabilities)/assets

 

(9,590)

100

Net assets

 

17,367

100

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

17,267

-

Shareholders' funds

 

17,367

100

For the financial period ending 31 March 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 period in question in accordance with section 476; and

The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 July 2025
 

.........................................
Mr Christopher Gillon
Director

 

Gillon Bloodstock Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Roxburgh Estates Office
Kelso
TD5 7SF
United Kingdom

The principal place of business is:
Roxburgh Estates Office
Kelso
TD5 7SF
United Kingdom

These financial statements were authorised for issue by the director on 18 July 2025.

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.

The company is not directly impacted by Brexit.

The company has suffered financially from the pandemic. Where appropriate, government support in the forms of grants and loans were used to mitigate the impact of lockdowns etc. The directors will continue to assess the impact of the pandemic and make decisions accordingly.

The accounts are presented in £GBP and are rounded to the nearest £1.

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.

Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Gillon Bloodstock Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

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:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing Balance

Plant and Machinery

25% Reducing Balance

Office Equipment

25% Straight Line

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Gillon Bloodstock Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Gillon Bloodstock Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 4 (2023 - 0).

 

Gillon Bloodstock Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

Additions

1,222

16,769

17,585

35,576

At 31 March 2025

1,222

16,769

17,585

35,576

Depreciation

Charge for the period

458

4,192

3,969

8,619

At 31 March 2025

458

4,192

3,969

8,619

Carrying amount

At 31 March 2025

764

12,577

13,616

26,957

5

Stocks

2025
£

2023
£

Other inventories

11,890

-

6

Debtors

Current

2025
£

2023
£

Trade debtors

24,002

-

Prepayments

900

-

 

24,902

-

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2023
£

Due within one year

 

Loans and borrowings

9

8,561

-

Trade creditors

 

1,748

-

Taxation and social security

 

18,949

-

Accruals and deferred income

 

15,952

-

Other creditors

 

10,709

-

 

55,919

-

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £8,561 (2023 - £Nil).

 

Gillon Bloodstock Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

8

Share capital

Allotted, called up and fully paid shares

2025

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Current loans and borrowings

2025
£

2023
£

Hire purchase contracts

8,561

-

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2025
£

2023
£

Not later than one year

30,000

-

Later than one year and not later than five years

60,000

-

90,000

-

The amount of non-cancellable operating lease payments recognised as an expense during the period was £30,743 (2023 - £Nil).

11

Related party transactions

The director lent funds to the company. At the year end, £10,709 was due to the director.