Weatherbys GSB Limited 04501438 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the registration of micro-chips for horses Digita Accounts Production Advanced 6.30.9574.0 true true 04501438 2024-01-01 2024-12-31 04501438 2024-12-31 04501438 core:RetainedEarningsAccumulatedLosses 2024-12-31 04501438 core:ShareCapital 2024-12-31 04501438 core:CurrentFinancialInstruments 2024-12-31 04501438 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04501438 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 04501438 core:BetweenTwoFiveYears 2024-12-31 04501438 core:WithinOneYear 2024-12-31 04501438 core:FurnitureFittingsToolsEquipment 2024-12-31 04501438 bus:SmallEntities 2024-01-01 2024-12-31 04501438 bus:Audited 2024-01-01 2024-12-31 04501438 bus:FilletedAccounts 2024-01-01 2024-12-31 04501438 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04501438 bus:RegisteredOffice 2024-01-01 2024-12-31 04501438 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 04501438 bus:Director6 2024-01-01 2024-12-31 04501438 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04501438 core:ComputerSoftware 2024-01-01 2024-12-31 04501438 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 04501438 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 1 2024-01-01 2024-12-31 04501438 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 04501438 core:OfficeEquipment 2024-01-01 2024-12-31 04501438 countries:EnglandWales 2024-01-01 2024-12-31 04501438 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 04501438 core:FurnitureFittingsToolsEquipment 2023-12-31 04501438 2023-01-01 2023-12-31 04501438 2023-12-31 04501438 core:RetainedEarningsAccumulatedLosses 2023-12-31 04501438 core:ShareCapital 2023-12-31 04501438 core:CurrentFinancialInstruments 2023-12-31 04501438 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04501438 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 04501438 core:BetweenTwoFiveYears 2023-12-31 04501438 core:WithinOneYear 2023-12-31 04501438 core:FurnitureFittingsToolsEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 04501438

Weatherbys GSB Limited
Filleted Financial Statements
for the Year Ended 31 December 2024

Weatherbys GSB Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 9

Weatherbys GSB Limited

Company Information

Directors | S P Cooper J R Weatherby

Company secretary | S P Cooper

Registered office | 52-60 Sanders Road Finedon Road Industrial Estate Wellingborough Northamptonshire NN8 4BX

Auditors | Ballards LLP Statutory Auditors, Chartered Accountants Oakmoore Court 11c Kingswood Road Hampton Lovett Droitwich Worcestershire WR9 0QH

Weatherbys GSB Limited

(Registration number: 04501438)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Intangible assets | 4 | 91,001 | 30,644
Tangible assets | 5 | 717 | 1,895
|  | 91,718 | 32,539
Current assets |  |  |
Stocks |  | 24,151 | 42,844
Debtors | 6 | 520,785 | 504,696
Cash at bank and in hand |  | 1,862,231 | 1,489,997
|  | 2,407,167 | 2,037,537
Creditors: Amounts falling due within one year | 7 | (711,067) | (388,606)
Net current assets |  | 1,696,100 | 1,648,931
Total assets less current liabilities |  | 1,787,818 | 1,681,470
Provisions for liabilities |  | (271) | (3,061)
Net assets |  | 1,787,547 | 1,678,409
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Retained earnings |  | 1,787,546 | 1,678,408
Shareholders' funds |  | 1,787,547 | 1,678,409

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 July 2025 and signed on its behalf by:

......................................... S P Cooper Company secretary and director |  |

Weatherbys GSB Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
52-60 Sanders Road
Finedon Road Industrial Estate
Wellingborough
Northamptonshire
NN8 4BX
England

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.

Going concern

The financial statements have been prepared on a going concern basis. The directors have a reasonable expection that the company will continue in operational existence for the foreseeable future.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 28 July 2025 was Andy Bewick FCCA, who signed for and on behalf of Ballards LLP.

Revenue recognition

The principal activities of the company and its revenue sources are derived from the administration and registration of thoroughbred horses in Great Britain, as well registering the import and export of thoroughbred horses into and out of Great Britain.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from the sales of goods is recognised at the point the company has transferred the significant risks and rewards of ownership to the buyer, typically on dispatch of the goods.
Revenue from the provision of services is recognised in the period in which the services are delivered.

Weatherbys GSB Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible fixed assets are recognised at cost and subsequently measured under the historical cost
model, being cost less accumulated depreciation and any accumulated impairment losses. Historical
cost includes any direct expenditure incurred to bring the asset to its current location and condition
necessary for the asset to work as intended by management.
Repairs and maintenance costs are charged to the income statement in the period in which they are
incurred.

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
Office Equipment, Fixtures and Fittings | 3 to 5 years

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Software | 3 to 5 years

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.

Weatherbys GSB Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

Weatherbys GSB Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Multi employer plans

Pension costs relate to contributions to the Weatherbys Pension and Assurance Scheme, a pension scheme which has two elements providing benefits based on final pensionable pay for some members and benefits based on contributions paid for other members.
All the participating employers in the scheme are under common control. In accordance with FRS 102 para 28.38, this constitutes a Group Plan with the entity that has legal responsibility accounting for the scheme as a whole under defined benefit scheme accounting.
Weatherbys Ltd has the legal responsibility and thus the scheme has been accounted for under FRS 102 in Weatherbys Ltd's individual financial statements. As a result of this, Weatherbys GSB Limited accounts for its contribution to the defined benefits section of the pension scheme as if it was a defined contribution scheme.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4 | Intangible assets

| Software £
Cost or valuation
At 1 January 2024 | 576,197
Additions | 83,596
At 31 December 2024 | 659,793
Amortisation
At 1 January 2024 | 545,553
Amortisation charge | 23,239
At 31 December 2024 | 568,792
Carrying amount
At 31 December 2024 | 91,001
At 31 December 2023 | 30,644

Weatherbys GSB Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

5 | Tangible assets

| Furniture, fittings and equipment £
Cost or valuation
At 1 January 2024 | 3,537
At 31 December 2024 | 3,537
Depreciation
At 1 January 2024 | 1,642
Charge for the year | 1,178
At 31 December 2024 | 2,820
Carrying amount
At 31 December 2024 | 717
At 31 December 2023 | 1,895

6 | Debtors

| Note | 2024 £ | 2023 £
Trade debtors |  | 121,809 | 169,471
Amounts owed by related parties | 9 | 391,699 | 310,213
Other debtors |  | 3,716 | 1,461
Prepayments |  | 3,561 | 23,551
|  | 520,785 | 504,696

Weatherbys GSB Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Trade creditors |  | 14,679 | 42,071
Amounts owed to group undertakings | 9 | 418,396 | 182,826
Taxation and social security |  | 102,419 | 119,291
Accruals and deferred income |  | 174,947 | 44,356
Other creditors |  | 626 | 62
|  | 711,067 | 388,606

8 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2024 £ | 2023 £
Not later than one year | 68,608 | -
Later than one year and not later than five years | 222,977 | -
| 291,585 | -

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

Weatherbys GSB Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

9 | Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
The company also has related party transactions and balances with other connected parties by virtue
of common control.
These related party transactions have been concluded under normal market conditions on an arm's
length basis and therefore no disclosure is considered necessary in these financial statements.

10 | Ultimate controlling party

The immediate parent company is Weatherbys Ltd and its ultimate parent company is Weatherbys Thoroughbred Holdings Limited, both of which are registered in England and Wales.
The largest and smallest group for which group financial statements have been drawn up is that headed by Weatherbys Thoroughbred Holdings Limited. Copies of the group financial statements can be obtained at Companies House.