REGISTERED NUMBER: 10435364 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

AT HORSES FAMILY ASSETS (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Tsang

Mr L Tsang

REGISTERED OFFICE:

Eden House

Two Rivers Business Park

Witney

Oxfordshire

OX28 4BL

BUSINESS ADDRESS:

Flat 16A Bellevue Heights

8 Tai Hang Drive

Jardines Lookout

Hong Kong

REGISTERED NUMBER:

10435364 (England and Wales)

ACCOUNTANTS:

Bronsens

Chartered Certified Accountants

Hillside

Albion Street

Chipping Norton

Oxfordshire

OX7 5BH

FIXED ASSETS

Tangible assets

4

77,726

103,034

Investment property

5

8,960,851

8,960,851

9,038,577

9,063,885

CURRENT ASSETS

Debtors

6

30,707

26,561

Cash at bank

84,005

97,351

114,712

123,912

CREDITORS

Amounts falling due within one year

7

857,299

137,727

NET CURRENT LIABILITIES

(742,587

)

(13,815

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,295,990

9,050,070

CREDITORS

Amounts falling due after more than one year

8

(8,419,397

)

(9,101,752

)

PROVISIONS FOR LIABILITIES

11

(13,360

)

(17,984

)

NET LIABILITIES

(136,767

)

(69,666

)

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

(136,867

)

(69,766

)

SHAREHOLDERS' FUNDS

(136,767

)

(69,666

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

Mr A Tsang - Director

1.	STATUTORY INFORMATION

AT Horses Family Assets (UK) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 have been prepared on a going concern basis on the understanding that the company has received assurances of support from the director in that he has confirmed that he will not seek repayment of his directors loan in preference to other creditors.

Turnover

Turnover repesents rents receivable from investment property.

Tangible fixed assets

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

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance and 20% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

33,511

123,944

3,230

160,685

Disposals

-

(9,490

)

-

(9,490

)

At 31 December 2024

33,511

114,454

3,230

151,195

DEPRECIATION

At 1 January 2024

15,294

40,840

1,517

57,651

Charge for year

3,351

15,553

1,066

19,970

Eliminated on disposal

-

(4,152

)

-

(4,152

)

At 31 December 2024

18,645

52,241

2,583

73,469

NET BOOK VALUE

At 31 December 2024

14,866

62,213

647

77,726

At 31 December 2023

18,217

83,104

1,713

103,034

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

8,960,851

NET BOOK VALUE

At 31 December 2024

8,960,851

At 31 December 2023

8,960,851

The fair value of all investment property as at the balance sheet date is considered by the directors to be the same as cost.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,113

4,618

Other debtors

18,180

14,565

Prepayments

11,414

7,378

30,707

26,561

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts (see note 9)

660,000

-

Hire purchase contracts

63,118

7,803

Trade creditors

5,545

6,263

Other creditors

3,788

6,053

Directors' current accounts

90,000

90,000

Rents received in advance

12,511

12,523

Accrued expenses

22,337

15,085

857,299

137,727

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans (see note 9)

2,797,500

3,945,640

Hire purchase contracts

-

63,118

Directors' loan accounts

5,621,897

5,092,994

8,419,397

9,101,752

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

£

Amounts falling due within one year or on demand:

Bank loans

660,000

-

Amounts falling due between one and two years:

Bank loans - 1-2 years

2,177,500

883,140

Amounts falling due between two and five years:

Bank loans - 2-5 years

620,000

3,062,500

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

3,457,500

3,945,640

Bank loans are secured by way of charges over the freehold properties in favour of Arbuthnot Latham & Co Limited.

11.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

Accelerated capital allowances

13,360

17,984

Deferred

tax

£

Balance at 1 January 2024

17,984

Provided during year

(4,624

)

Balance at 31 December 2024

13,360

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary £1

£1

100

100

13.

RESERVES

Retained

earnings

£

At 1 January 2024

(69,766

)

Deficit for the year

(67,101

)

At 31 December 2024

(136,867

)

14.	ULTIMATE CONTROLLING PARTY

The controlling party is Steady Horse Limited.

The ultimate controlling party is Mr A Tsang.

The parent company is registered in the British Virgin Islands.