Bond Thoroughbred Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12201435

Bond Thoroughbred Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Bond Thoroughbred Limited

Statement of Financial Position

31 March 2025

	2025		2024
			(restated)
Note	£	£	£	£

Fixed assets

Tangible assets	5		311,509		395,644

Current assets

Stocks		7,358,597	5,598,980
Debtors	6	237,038	146,184
Cash at bank and in hand		187,415	21,001
		------------	------------
		7,783,050	5,766,165

Creditors: amounts falling due within one year	7	11,089,354		8,646,575
		-------------		------------
Net current liabilities			3,306,304		2,880,410
			------------		------------
Total assets less current liabilities			( 2,994,795)		( 2,484,766)
			------------		------------

Capital and reserves

Called up share capital	1,001	1,001
Profit and loss account	( 2,995,796)	( 2,485,767)
	------------	------------
Shareholders deficit	( 2,994,795)	( 2,484,766)
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Bond Thoroughbred Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 24 December 2025 , and are signed on behalf of the board by:

C S Bond

Director

Company registration number: 12201435

Bond Thoroughbred Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Yapham Manor, Pocklington, York, YO421PB, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Going concern

The company is financed by the directors and shareholders. As they have confirmed they intend to support the company for the foreseeable future, the directors believe the company is therefore a going concern.

Revenue recognition

Turnover is measured at fair value of consideration received or receivable in respect of price money, sponsorship, keep fees and sales of bloodstock which are net of discounts and Value Added Tax. Prize money is recognised on receipt from British Horse Association. Sponsorship income is recognised on receipt or per the contract agreement. Sponsorship income is deferred if the contract period differed to the year end. Sale of bloodstock income is recognised when the ownership of bloodstock passes from the seller to the buyer. Keep income is recognised on an accruals basis and matched with expenditure when recharged.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	10% straight line
Motor vehicles	-	25% straight line
Equipment	-	20% reducing balance

Stocks

Stock comprises bloodstock (stallions, mares and foals) held for the purposes of breeding and racing. Such assets are stated at the lower of cost and net realisable value (selling price less costs to sell). Where an impairment is identified, the value of the stock is reduced and the reduction immediately charged in the profit and loss account. A transfer is made between breeding and racing when the purpose of the bloodstock changes. The value is based on the net realisable value of the bloodstock as at the date of transfer.

Defined contribution plans

The company operates and auto-enrolments scheme for all employees. The assets of the pension scheme are held separately from those of the company. The annual contributions payable are charged in the profit and loss account.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2024: 10 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024 (as restated)	50,750	307,328	110,273	468,351
Additions	2,580	–	4,216	6,796
	--------	---------	---------	---------
At 31 March 2025	53,330	307,328	114,489	475,147
	--------	---------	---------	---------
Depreciation
At 1 April 2024	1,511	57,210	13,985	72,706
Charge for the year	5,086	59,253	26,593	90,932
	--------	---------	---------	---------
At 31 March 2025	6,597	116,463	40,578	163,638
	--------	---------	---------	---------
Carrying amount
At 31 March 2025	46,733	190,865	73,911	311,509
	--------	---------	---------	---------
At 31 March 2024	49,239	250,118	96,288	395,645
	--------	---------	---------	---------

6. Debtors

	2025	2024
		(restated)
	£	£
Trade debtors	–	1,512
Other debtors	237,038	144,672
	---------	---------
	237,038	146,184
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
		(restated)
	£	£
Trade creditors	68,687	63,855
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9,261,436	7,015,038
Social security and other taxes	212,545	17,131
Other creditors	1,546,686	1,550,551
	-------------	------------
	11,089,354	8,646,575
	-------------	------------

In creditors there are amounts secured by a fixed and floating charge over the assets of the company .

8. Prior period error

During the year, the directors identified an error in the valuation of stock included in the financial statements for the year ended 31 March 2024. Stock was overstated by £330,100 as a result of an error in the stock records.

In accordance with FRS 102, this error has been treated as a prior period error and the comparative figures have been restated accordingly. The correction has resulted in a reduction in opening retained earnings at 1 April 2024 of £330,100.

The adjustment has no impact on the profit or loss for the current financial year.

No adjustment to the corporation tax charge is expected to arise as a result of this correction.