Registration number: 10607108

Inchallah Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Inchallah Limited

Company Information

Director

Mrs C E Gallagher

Registered office

C/O Howsons Winton House Stoke Road Stoke on Trent Staffordshire ST4 2RW

Accountants

Howsons (Stoke) Limited Chartered AccountantsWinton House Stoke Road Stoke on Trent Staffordshire ST4 2RW

Inchallah Limited

(Registration number: 10607108)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	98,291	101,431
Current assets
Stocks		8,925	7,538
Debtors	5	67,341	16,464
Biological assets	6	226,750	302,750
Cash at bank and in hand		264	14,854
		303,280	341,606
Creditors: Amounts falling due within one year	7	(290,254)	(190,370)
Net current assets		13,026	151,236
Total assets less current liabilities		111,317	252,667
Creditors: Amounts falling due after more than one year	7	(23,020)	(27,140)
Provisions for liabilities		(2,127)	(14,863)
Net assets		86,170	210,664
Capital and reserves
Called up share capital		1	1
Retained earnings		86,169	210,663
Shareholders' funds		86,170	210,664

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.

Director's 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 director acknowledges her 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Inchallah Limited

(Registration number: 10607108)
Balance Sheet as at 31 December 2024

Approved and authorised by the director on 31 December 2025
 

......................................... Mrs C E Gallagher Director

Inchallah 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:
C/O Howsons
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.

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:

Inchallah Limited

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

Asset class	Depreciation method and rate
Motor Vehicles	10% Straight line
Fixtures and fittings	10% Straight line
Office equipment	25% Straight line
Improvements to leasehold	10% Straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

Biological assets are measured at fair value less costs to sell, with any change therein recognised in profit and loss. The fair values are based on the market price of livestock of similar age, weight and breed.

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Inchallah Limited

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

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

Inchallah Limited

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

5

Debtors

	2024 £	2023 £
Trade debtors	65,675	-
Other debtors	1,666	16,464
	67,341	16,464

6

Stocks

Stock consists of biological assets. The movement in the year is as follows;
 

Biological assets	£
Fair value as at 1 January 2024	302,750
Additions	30,000
Disposals	(48,000)
Changes in fair value	(58,000)
Fair value as at 31 December 2024	226,750

7

Creditors

		2024 £	2023 £
Due within one year
Bank loans and overdrafts		-	6,944
Trade creditors		5,422	4,412
Taxation and social security		1,552	4,401
Other creditors		52,318	47,253
Other borrowings		4,723	4,621
Directors' loan account		226,239	122,739
		290,254	190,370
Due after one year
Loans and borrowings		23,020	27,140

8	Going Concern

The accounts have been prepared on a going concern basis. During the year, consultancy activities were temporarily paused as the company adapted to changes in the market. Operations resumed towards the end of the year at increased rates. The company continues to invest in the breeding and welfare of its horses to enhance the quality and performance of its stock. The director remains committed to supporting the business.