REGISTERED NUMBER: 12930180 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

BELLOWS EQUESTRIAN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Gilbert

REGISTERED OFFICE:

15 West Street

Brighton

East Sussex

BN1 2RL

REGISTERED NUMBER:

12930180 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Tangible assets

4

8,016,671

6,917,727

CURRENT ASSETS

Stocks

5

890,001

781,567

Debtors

6

121,951

129,182

Cash at bank

251,550

16,867

1,263,502

927,616

CREDITORS

Amounts falling due within one year

7

(11,378,185

)

(9,289,592

)

NET CURRENT LIABILITIES

(10,114,683

)

(8,361,976

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,098,012

)

(1,444,249

)

CREDITORS

Amounts falling due after more than one year

8

-

(60,573

)

NET LIABILITIES

(2,098,012

)

(1,504,822

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(2,098,112

)

(1,504,922

)

(2,098,012

)

(1,504,822

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 October 2025 and were signed by:

R Gilbert - Director

1.	STATUTORY INFORMATION

Bellows Equestrian Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

Turnover also represents rental income which is recognised on a receivable basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

4% on cost

Plant and machinery

-

10% on cost

Horses & Horse Equipment

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

EMPLOYEES

The average number of employees during the year was 13 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Horses &

Freehold

Plant and

Horse

property

machinery

Equipment

£

£

£

COST

At 1 May 2024

6,665,103

339,979

437,244

Additions

601,417

145,675

353,183

At 30 April 2025

7,266,520

485,654

790,427

DEPRECIATION

At 1 May 2024

386,527

89,946

152,993

Charge for year

142,308

43,358

72,942

At 30 April 2025

528,835

133,304

225,935

NET BOOK VALUE

At 30 April 2025

6,737,685

352,350

564,492

At 30 April 2024

6,278,576

250,033

284,251

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2024

147,771

15,453

7,605,550

Additions

370,000

13,099

1,483,374

At 30 April 2025

517,771

28,552

9,088,924

DEPRECIATION

At 1 May 2024

49,418

8,939

687,823

Charge for year

119,102

6,720

384,430

At 30 April 2025

168,520

15,659

1,072,253

NET BOOK VALUE

At 30 April 2025

349,251

12,893

8,016,671

At 30 April 2024

98,353

6,514

6,917,727

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 May 2024

and 30 April 2025

31,195

117,271

148,466

DEPRECIATION

At 1 May 2024

1,282

26,908

28,190

Charge for year

6,240

29,318

35,558

At 30 April 2025

7,522

56,226

63,748

NET BOOK VALUE

At 30 April 2025

23,673

61,045

84,718

At 30 April 2024

29,913

90,363

120,276

5.

STOCKS

2025

2024

£

£

Stocks

890,001

781,567

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

62,676

57,442

Amounts owed by group undertakings

-

56

Other debtors

25,000

25,000

VAT

28,163

31,434

Prepayments

6,112

15,250

121,951

129,182

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

4,631

19,354

Trade creditors

3,560

19,165

Amounts owed to group undertakings

11,327,342

2,371,057

Other creditors

24,735

19,664

Directors' current accounts

-

6,847,399

Accruals and deferred income

17,917

12,953

11,378,185

9,289,592

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

60,573

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, R Gilbert decreased his loan to the company. As at 30 April 2025, the company owed him £nil (2024: £6,847,399). This balance represented the maximum amount outstanding during the period and the loan is interest free and repayable on demand.

10.	RELATED PARTY DISCLOSURES

During the year, Gilbert Investments Limited increased its loan to the company. As at 30 April 2025, the company owed Gilbert Investments Limited £11,327,342 (2024: £2,318,041). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

During the year, Gilbert Investments Rentals Limited reduced its loan to the company. As at 30 April 2025, the company owed Gilbert Investments Rentals Limited £nil (2024: £53,016). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

During the year, Swanage Escapes Limited reduced ts loan to the company. As at 30 April 2025, Bellows Equestrian Limited was owed £nil (2024: £56). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

As there is no majority shareholder the company is controlled by the Board.

12.	NET CURRENT LIABILITIES

As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. During the year the company made a loss of £593,190, and as at the year end the current liabilities exceeded total assets by £2,098,012.

The validity of this basis depends upon the continued support of the company's director. The director confirms that he will give the required support.