The Equestrian Laundry Group Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

The Equestrian Laundry Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13091008 . The registered office is Staple House , Eleanors Cross, Dunstable, England, LU6 1SU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

At the balance sheet date, liabilities exceed assets by £126,504 (2023: £118,296). However, the financials statements have been prepared on going concern basis as the company has the continuing support from its director and shareholder. The director is therefore satisfied that the financial statements have been correctly prepared on the going concern basis.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of five years.

2.5. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are software cost. It is amortised to the profit and loss account over its estimated economic life of five years.

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	over 5 years
Motor Vehicles	over 5 years

2.7. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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The Equestrian Laundry Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.9. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.10. Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

2.11. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.12. Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

2.13. Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2023: 9)

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 January 2024	1,000	-	1,000
Additions	-	10,000	10,000

As at 31 December 2024	1,000	10,000	11,000

Amortisation
As at 1 January 2024	600	-	600
Provided during the period	200	500	700

As at 31 December 2024	800	500	1,300

Net Book Value
As at 31 December 2024	200	9,500	9,700

As at 1 January 2024	400	-	400

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The Equestrian Laundry Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 January 2024	28,431	55,188	83,619
Additions	7,518	-	7,518

As at 31 December 2024	35,949	55,188	91,137

Depreciation
As at 1 January 2024	12,476	25,532	38,008
Provided during the period	6,666	11,037	17,703

As at 31 December 2024	19,142	36,569	55,711

Net Book Value
As at 31 December 2024	16,807	18,619	35,426

As at 1 January 2024	15,955	29,656	45,611

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	11,131	5,146
Other debtors	12,400	14,946

	23,531	20,092

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	11,807	11,014
Trade creditors	51,117	43,771
Other creditors	91,686	86,477
Taxation and social security	27,031	22,219

	181,641	163,481

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	9,755	22,354

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The Equestrian Laundry Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	11,807	11,014
Later than one year and not later than five years	9,755	22,354

	21,562	33,368

	21,562	33,368

10. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	6,608	-

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

12. Reserves

Profit and Loss reserves

The Profit and Loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholder. This is a distributable reserve.

13. Related Party Transactions

As at balance sheet date, included in creditors are amounts due to director of £84,120 (2023: £86,342).

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		9,700		400
Tangible Assets	5		35,426		45,611

			45,126		46,011
CURRENT ASSETS
Stocks		1,925		-
Debtors	6	23,531		20,092
Cash at bank and in hand		918		1,436

		26,374		21,528
Creditors: Amounts Falling Due Within One Year	7	(181,641 )		(163,481 )

NET CURRENT ASSETS (LIABILITIES)			(155,267 )		(141,953 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(110,141 )		(95,942 )

Creditors: Amounts Falling Due After More Than One Year	8		(9,755 )		(22,354 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(6,608 )		-

NET LIABILITIES			(126,504 )		(118,296 )

CAPITAL AND RESERVES
Called up share capital	11		1		1
Profit and Loss Account			(126,505 )		(118,297 )

SHAREHOLDERS' FUNDS			(126,504)		(118,296)