Registration number: 7871838

Three Horseshoes (Groesffordd) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 11

Three Horseshoes (Groesffordd) Limited

Company Information

Director

Mr Ashley D Haworth

Registered office

Kings Arms Vaults Watton Brecon Powys LD3 7EF

Accountants

King Morter Proud & Co Limited Chartered Accountants Kings Arms Vaults Watton Brecon Powys LD3 7EF

Three Horseshoes (Groesffordd) Limited

(Registration number: 7871838)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	39,369	44,088
Current assets
Stocks	6	4,500	4,500
Debtors	7	60,354	103,846
Cash at bank and in hand		236,067	225,970
		300,921	334,316
Creditors: Amounts falling due within one year	8	(52,074)	(75,174)
Net current assets		248,847	259,142
Total assets less current liabilities		288,216	303,230
Creditors: Amounts falling due after more than one year	8	(42,942)	(33,976)
Net assets		245,274	269,254
Capital and reserves
Called up share capital	9	1	1
Retained earnings		245,273	269,253
Shareholders' funds		245,274	269,254

For the financial year ending 31 December 2024 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 year 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 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 September 2025
 

Three Horseshoes (Groesffordd) Limited

(Registration number: 7871838)
Balance Sheet as at 31 December 2024

......................................... Mr Ashley D Haworth Director

Three Horseshoes (Groesffordd) Limited

Notes to the Unaudited 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 & Wales.

The address of its registered office is:
Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

These financial statements were authorised for issue by the director on 19 September 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Three Horseshoes (Groesffordd) Limited

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

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 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
Land & buildings	nil
Plant & machinery	10% straight line basis
Equipment	10% straight line basis
Computer equipment	20% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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
Goodwill	10% per annum on cost

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.

Three Horseshoes (Groesffordd) Limited

Notes to the Unaudited 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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Three Horseshoes (Groesffordd) Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2023 - 16).

Three Horseshoes (Groesffordd) Limited

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

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	137,143	137,143
At 31 December 2024	137,143	137,143
Amortisation
At 1 January 2024	137,143	137,143
At 31 December 2024	137,143	137,143
Carrying amount
At 31 December 2024	-	-

5	Tangible assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Office equipment £
Cost or valuation
At 1 January 2024	20,000	83,523	55,680	3,083
Additions	-	-	4,038	-
At 31 December 2024	20,000	83,523	59,718	3,083
Depreciation
At 1 January 2024	500	58,935	55,680	3,083
Charge for the year	-	8,353	404	-
At 31 December 2024	500	67,288	56,084	3,083
Carrying amount
At 31 December 2024	19,500	16,235	3,634	-
At 31 December 2023	19,500	24,588	-	-

Three Horseshoes (Groesffordd) Limited

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

	Total £
Cost or valuation
At 1 January 2024	162,286
Additions	4,038
At 31 December 2024	166,324
Depreciation
At 1 January 2024	118,198
Charge for the year	8,757
At 31 December 2024	126,955
Carrying amount
At 31 December 2024	39,369
At 31 December 2023	44,088

Included within the net book value of land and buildings above is £19,500 (2023 - £19,500) in respect of freehold land and buildings.
 

6

Stocks

	2024 £	2023 £
Other inventories	4,500	4,500

7

Debtors

Current	2024 £	2023 £
Other debtors	60,354	103,846
	60,354	103,846

Three Horseshoes (Groesffordd) Limited

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

8

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	8,034	17,477
Taxation and social security	40,680	57,697
Accruals and deferred income	3,360	-
	52,074	75,174

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	10	42,942	33,976

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1

10	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	42,942	33,976

11

Dividends

		2024		2023
		£		£
Interim dividend of £65,000.00 (2023 - £63,000.00) per ordinary share		65,000		63,000

12	Related party transactions

Three Horseshoes (Groesffordd) Limited

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

Director's remuneration

The director's remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	9,096	9,096
Contributions paid to money purchase schemes	106,500	10,500
	115,596	19,596