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REGISTERED NUMBER: 12035949 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Esm Equestrian Ltd

Esm Equestrian Ltd (Registered number: 12035949)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Esm Equestrian Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTOR: Mr J L Evans





REGISTERED OFFICE: 30 Bore Street
Lichfield
WS13 6LL





REGISTERED NUMBER: 12035949 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
The Old Stables
Sutton Manor Farm
Bishops Sutton
Alresford
Hampshire
SO24 0AA

Esm Equestrian Ltd (Registered number: 12035949)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 101,235 121,482
Tangible assets 5 2,172,822 2,705,974
Investments 6 - 100
2,274,057 2,827,556

CURRENT ASSETS
Stocks 7 4,073,963 3,386,372
Debtors 8 822,488 1,797,233
Cash at bank 15,711 67,345
4,912,162 5,250,950
CREDITORS
Amounts falling due within one year 9 5,886,821 9,249,962
NET CURRENT LIABILITIES (974,659 ) (3,999,012 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,299,398

(1,171,456

)

CREDITORS
Amounts falling due after more than one
year

10

434,704

797,361
NET ASSETS/(LIABILITIES) 864,694 (1,968,817 )

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 864,594 (1,968,917 )
SHAREHOLDERS' FUNDS 864,694 (1,968,817 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Esm Equestrian Ltd (Registered number: 12035949)

Balance Sheet - continued
30 November 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2025 and were signed by:





Mr J L Evans - Director


Esm Equestrian Ltd (Registered number: 12035949)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Esm Equestrian Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements for the period under review have been prepared on a going concern basis. The director has considered a period of twelve months from the period of approval of these financial statements, whereby funding remains in place to continue to operate the business. On this basis, the director believes that it is prudent to prepare the accounts on a going concern basis.

The director has also sought assurances from JLE Group Limited, the company's largest creditor, who have indicated that that entity will not withdraw funding for at least 12 months beyond the balance sheet authorisation date, if it results in the company being able to meet its ongoing financial obligations.

If this assumption proves to be inappropriate, then adjustments may have to be made to adjust the assets to their recoverable amounts and to provide for any further liabilities which may arise.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other intangibles are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Land- Not provided
Freehold buildings- Straight line over 10 years
Plant and machinery- Straight line over 5 years
Show-jumps- Straight line over 5 years
Motor vehicles- Straight line over 5 years
Computer equipment- Straight line over 5 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks of competition horses, broodmares, youngstock and foals are included at the lower of cost and net realisable value.


Esm Equestrian Ltd (Registered number: 12035949)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2023
and 30 November 2024 202,470
AMORTISATION
At 1 December 2023 80,988
Charge for year 20,247
At 30 November 2024 101,235
NET BOOK VALUE
At 30 November 2024 101,235
At 30 November 2023 121,482

Esm Equestrian Ltd (Registered number: 12035949)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 December 2023 1,345,235 79,820 326,335
Additions - 56,378 9,256
Disposals - - (4,200 )
At 30 November 2024 1,345,235 136,198 331,391
DEPRECIATION
At 1 December 2023 519,395 20,697 183,739
Charge for year 134,523 12,116 99,910
Eliminated on disposal - - (1,632 )
At 30 November 2024 653,918 32,813 282,017
NET BOOK VALUE
At 30 November 2024 691,317 103,385 49,374
At 30 November 2023 825,840 59,123 142,596

Motor Computer
Show-jumps vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2023 45,640 1,800,951 7,698 3,605,679
Additions 1,622 216,897 6,509 290,662
Disposals - (200,799 ) - (204,999 )
At 30 November 2024 47,262 1,817,049 14,207 3,691,342
DEPRECIATION
At 1 December 2023 20,301 147,875 7,698 899,705
Charge for year 9,344 372,627 3,379 631,899
Eliminated on disposal - (11,452 ) - (13,084 )
At 30 November 2024 29,645 509,050 11,077 1,518,520
NET BOOK VALUE
At 30 November 2024 17,617 1,307,999 3,130 2,172,822
At 30 November 2023 25,339 1,653,076 - 2,705,974

Esm Equestrian Ltd (Registered number: 12035949)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2023 100
Disposals (100 )
At 30 November 2024 -
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 100

7. STOCKS
2024 2023
£    £   
Competition horses 3,779,423 3,278,379
Broodmares 75,845 40,634
Foals and youngstock 218,695 67,359
4,073,963 3,386,372

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,443 19,243
Other debtors 18,750 -
Subsidiary funding loan - 1,416,150
Directors' current accounts 86,147 -
VAT 33,033 -
Deferred tax asset 649,457 326,957
Prepayments 30,658 34,883
822,488 1,797,233

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 29,143 -
Hire purchase contracts 366,512 366,512
Trade creditors 122,221 39,654
Social security and other taxes 5,080 6,131
VAT - 206,431
Other creditors 1,022 12,460
JLE Group Limited loan 5,261,786 8,562,822
Accrued expenses 101,057 55,952
5,886,821 9,249,962

Esm Equestrian Ltd (Registered number: 12035949)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 434,704 797,361

11. DEFERRED TAX
£   
Balance at 1 December 2023 (326,957 )
Accelerated capital allowances (52,057 )
On unutilised losses (270,443 )
Balance at 30 November 2024 (649,457 )

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
Mr J L Evans and Mr J L Evans
Balance outstanding at start of year - -
Amounts advanced 86,147 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 86,147 -

The loan is repayable on demand and Interest has been charged at a rate of 2.25%.

Esm Equestrian Ltd (Registered number: 12035949)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

14. RELATED PARTY DISCLOSURES

Evans and Barham Showjumping Limited
A 100% owned subsidiary

On 5 November 2024 Evans and Barham Showjumping Limited was closed. During the year the company received rental income of £nil (2023: £62,210). The company wrote off £278,596 (2023: £1,500,000) of the outstanding loan. The balance of the loan outstanding at the year end amounts to £nil (2023: £1,416,150).

JLE Group Limited
A company in which Mr J L Evans is director and 100% shareholder

JLE Group Limited provided loan facilities to ESM Equestrian Limited across the trading period. During the year JLE Group wrote off £7,500,000 (2023: £8,931,464) of the outstanding loan. The balance of the loan outstanding at the year end amounts to £5,261,786 (2023: £8,562,822) and is included within creditors due within one year. This loan is subject to a market rate of interest. Finally, this loan is given unrestricted and is repayable on demand, but not if this left the company unable to meet its ongoing expenses and liabilities.

ESM Property Investments Ltd
A company in which Mr J L Evans is director and 100% shareholder

During the year the company paid ESM Property Investments Ltd rent of £12,000 (2023: £13,000).

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director, Mr J L Evans, by virtue of his controlling 100% shareholding.