1 May 2024 false No description of principal activity Taxfiler 2024.6 09551305 business:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 09551305 2024-04-30 09551305 2024-05-01 2025-04-30 09551305 business:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 09551305 business:FilletedAccounts 2024-05-01 2025-04-30 09551305 2025-04-30 09551305 business:Director1 2024-05-01 2025-04-30 09551305 business:RegisteredOffice 2024-05-01 2025-04-30 09551305 2024-04-30 09551305 core:WithinOneYear 2025-04-30 09551305 core:WithinOneYear 2024-04-30 09551305 core:ShareCapital core:PreviouslyStatedAmount 2025-04-30 09551305 core:ShareCapital core:PreviouslyStatedAmount 2024-04-30 09551305 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2025-04-30 09551305 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2024-04-30 09551305 core:PreviouslyStatedAmount 2025-04-30 09551305 core:PreviouslyStatedAmount 2024-04-30 09551305 business:SmallEntities 2024-05-01 2025-04-30 09551305 countries:EnglandWales 2024-05-01 2025-04-30 09551305 core:PlantMachinery 2024-05-01 2025-04-30 09551305 core:MotorVehicles 2024-05-01 2025-04-30 09551305 core:MotorVehicles 2024-04-30 09551305 core:FurnitureFittings 2024-04-30 09551305 core:MotorVehicles 2025-04-30 09551305 core:FurnitureFittings 2025-04-30 09551305 core:FurnitureFittings 2024-05-01 2025-04-30 09551305 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Company Registration No. 09551305 (England and Wales)
L&M Breeding Ltd Unaudited accounts for the year ended 30 April 2025
L&M Breeding Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
L&M Breeding Ltd Company Information for the year ended 30 April 2025
Director
Jason Miller
Company Number
09551305 (England and Wales)
Registered Office
83 Lovibonds Avenue Orpington Kent BR6 8EP England
Accountants
Alison Austin FCA BFP Home Farm House St. Leonard's Forest Horsham West Sussex RH13 6PH
- 3 -
L&M Breeding Ltd Statement of financial position as at 30 April 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
519
2,065
Current assets
Inventories
162,943
172,925
Debtors
5
5,241
1,480
Cash at bank and in hand
31
1,815
168,215
176,220
Creditors: amounts falling due within one year
6
(733,494)
(665,040)
Net current liabilities
(565,279)
(488,820)
Net liabilities
(564,760)
(486,755)
Capital and reserves
Called up share capital
1
1
Profit and loss account
(564,761)
(486,756)
Shareholders' funds
(564,760)
(486,755)
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 October 2025 and were signed on its behalf by
Jason Miller Director Company Registration No. 09551305
- 4 -
L&M Breeding Ltd Notes to the Accounts for the year ended 30 April 2025
1
Statutory information
L&M Breeding Ltd is a private company, limited by shares, registered in England and Wales, registration number 09551305. The registered office is 83 Lovibonds Avenue, Orpington, Kent, BR6 8EP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
20% straight line
Stock
Stock is valued at the lower of cost and net realisable value (expected selling price less anticipated costs of sale). Mares , stallions and foals are valued at acquisition price if purchased from a third party. Where the horse has been bred and reared in-house from foal, the cost included are the costs of rearing and keeping the horse until it is three. Where there is a nomination fee or semen purchased, these will be held as a separate stock item until the outcome of the breeding is known. If successful, these costs are transferred to the foal produced. If not, they are written off the profit and loss account. If appropriate, stallions will be depreciated over 10 years. The stock values are reviewed on an annual basis and written down if the cost recorded is higher than the estimated net realisable value.
- 5 -
L&M Breeding Ltd Notes to the Accounts for the year ended 30 April 2025
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 May 2024
25,000
7,733
32,733
At 30 April 2025
25,000
7,733
32,733
Depreciation
At 1 May 2024
25,000
5,668
30,668
Charge for the year
-
1,546
1,546
At 30 April 2025
25,000
7,214
32,214
Net book value
At 30 April 2025
-
519
519
At 30 April 2024
-
2,065
2,065
5
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
5,241
1,440
Other debtors
-
40
5,241
1,480
6
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
181,342
116,965
Loans from directors
551,526
547,715
Accruals
626
360
733,494
665,040
7
Transactions with related parties
During the year L&M Breeding Ltd received an interest-free loan from Jamcap Limited, a company owned by the same shareholder. At the balance sheet date an amount of £177,165 was owed to Jamcap Limited (2024: £116,965).
8
Average number of employees
During the year the average number of employees was 1 (2024: 1).
- 6 -