Registration number: 09211784

Chelsea Thoroughbreds Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Chelsea Thoroughbreds Limited

Company Information

Directors

Richard Nysingh James Netherthorpe

Registered office

23a Ditton Green Woodditton, Newmarket CB8 9SQ

Accountants

Carbon Accountancy Limited Chartered Accountants 80-83 Long Lane London EC1A 9ET

Chelsea Thoroughbreds Limited

(Registration number: 09211784)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Current assets
Stocks	6	-	273,112
Debtors	7	58,674	296,873
Cash at bank and in hand		336,756	85,736
		395,430	655,721
Creditors: Amounts falling due within one year	8	(606,125)	(612,788)
Net (liabilities)/assets		(210,695)	42,933
Capital and reserves
Called up share capital	9	1	1
Retained earnings		(210,696)	42,932
Shareholders' (deficit)/funds		(210,695)	42,933

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2025 and signed on its behalf by:
 

......................................... Richard Nysingh Director

Chelsea Thoroughbreds 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 and Wales.

The address of its registered office is:
23a Ditton Green
Woodditton, Newmarket
CB8 9SQ

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for syndicate management fees, bloodstock sales, prize money won and sponsorship income received 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 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.

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:

Chelsea Thoroughbreds Limited

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

2	Accounting policies (continued)

Asset class	Depreciation method and rate
Fixture and fittings	25% Straight line basis

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Debtors includes amount receivable from syndicate members for the sale of shares in bloodstock and management fees receivable by the company.

Stocks

Bloodstock is valued at the lower of cost and net realisable value.

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.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

Chelsea Thoroughbreds Limited

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

4	Loss before tax

Arrived at after charging/(crediting)

	2024 £	2023 £
Exceptional item - intercompany loan waiver	(197,030)	-

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	3,841	3,841
At 31 December 2024	3,841	3,841
Depreciation
At 1 January 2024	3,841	3,841
At 31 December 2024	3,841	3,841
Carrying amount
At 31 December 2024	-	-

6

Stocks

	2024 £	2023 £
Other inventories	-	273,112

7

Debtors

Current	2024 £	2023 £
Trade debtors	58,674	253,922
Other debtors	-	42,951
	58,674	296,873

Chelsea Thoroughbreds Limited

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

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		177,636	398,836
Amounts owed to group undertakings and undertakings in which the company has a participating interest	10	-	25,398
Taxation and social security		15,570	1,931
Accruals and deferred income		1,963	6,477
Other creditors		410,956	180,146
		606,125	612,788