Registration number: 12972878

Floors Stud Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Floors Stud Limited

(Registration number: 12972878)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	365	487
Other financial assets	5	2,701,989	2,768,288
		2,702,354	2,768,775
Current assets
Stocks	6	1,961,532	1,803,600
Debtors	7	68,204	74,437
Cash at bank and in hand		145,168	1,208,411
		2,174,904	3,086,448
Creditors: Amounts falling due within one year	8	(5,262,145)	(6,253,095)
Net current liabilities		(3,087,241)	(3,166,647)
Total assets less current liabilities		(384,887)	(397,872)
Provisions for liabilities		(91)	(122)
Net liabilities		(384,978)	(397,994)
Capital and reserves
Called up share capital		100	100
Retained earnings		(385,078)	(398,094)
Shareholders' deficit		(384,978)	(397,994)

Floors Stud Limited

(Registration number: 12972878)
Balance Sheet as at 31 December 2024

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 30 September 2025 and signed on its behalf by:
 

......................................... Duchess of Roxburghe Director

Floors Stud 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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of bloodstock sales,
keep fees and recharged expenses made during the year. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred 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.

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.

Floors Stud Limited

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

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
Plant and machinery	25% reducing balance 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.

Debtors

Trade debtors are amounts due from customers for bloodstock sold, keep fees and expenses recharged in the ordinary course of business.

Bloodstock

Bloodstock is stated at the lower of cost and market 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.

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 2 (2023 - 2).

Floors Stud Limited

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

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	1,155	1,155
At 31 December 2024	1,155	1,155
Depreciation
At 1 January 2024	668	668
Charge for the year	122	122
At 31 December 2024	790	790
Carrying amount
At 31 December 2024	365	365
At 31 December 2023	487	487

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 January 2024	2,768,288	2,768,288
Cash withdrawn from fund (net)	(315,000)	(315,000)
Income received into fund net of fees	10,106	10,106
Profit/(Loss) on disposal of investments	47,987	47,987
Fair value adjustments	190,608	190,608
At 31 December 2024	2,701,989	2,701,989
Impairment
Carrying amount
At 31 December 2024	2,701,989	2,701,989

Floors Stud Limited

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

6

Stocks

	2024 £	2023 £
Breeding stock	1,961,532	1,503,600
Horses in training	-	300,000
	1,961,532	1,803,600

7

Debtors

	2024 £	2023 £
Trade debtors	-	32,974
Prepayments	8,214	33,990
Other debtors	59,990	7,473
	68,204	74,437

8

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	30,412	861,239
Taxation and social security	-	43,270
Other creditors	5,231,733	5,348,586
	5,262,145	6,253,095