Company No: 14734601 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	J V Newman (Appointed 02 January 2026)
	C L A Slade

Registered office	Springfield House
	Springfield Road
	Horsham
	RH12 2RG
	United Kingdom

Company number

14734601 (England and Wales)

Accountant	Kreston Reeves LLP
	Springfield House
	Springfield Road
	Horsham
	West Sussex
	RH12 2RG

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Simply Horsing Around Ltd for the financial period ended 31 July 2025 which comprise the Balance Sheet and the related notes 1 to 8 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Simply Horsing Around Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Simply Horsing Around Ltd. You consider that Simply Horsing Around Ltd is exempt from the statutory audit requirement for the financial period.

We have not been instructed to carry out an audit or a review of the financial statements of Simply Horsing Around Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Simply Horsing Around Ltd, as a body, in accordance with the terms of our engagement letter dated 17 February 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Simply Horsing Around Ltd and state those matters that we have agreed to state to the Board of Directors of Simply Horsing Around Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Simply Horsing Around Ltd and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP

Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG

27 April 2026

	Note	31.07.2025		31.03.2024
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	1,559,971		1,266,992
		1,559,971		1,266,992
Current assets
Stocks		0		1,500
Debtors	5	239		1,673
Cash at bank and in hand		2,204		1,032
		2,443		4,205
Creditors: amounts falling due within one year	6	( 1,770,238)		( 1,331,351)
Net current liabilities		(1,767,795)		(1,327,146)
Total assets less current liabilities		(207,824)		(60,154)
Net liabilities		( 207,824)		( 60,154)
Capital and reserves
Called-up share capital		1		1
Profit and loss account		( 207,825 )		( 60,155 )
Total shareholder's deficit		( 207,824)		( 60,154)

For the financial period ending 31 July 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Simply Horsing Around Ltd (registered number: 14734601) were approved and authorised for issue by the Board of Directors on 24 April 2026. They were signed on its behalf by:

C L A Slade Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Simply Horsing Around Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Springfield House, Springfield Road, Horsham, RH12 2RG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £1.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £207,824. The Company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

To align the financial period end with its Parent company, the company extended its financial period to 31 July 2025. These financial statements are therefore prepared for the 16 month period from 1 April 2024 to 31 July 2025. The prior period was prepared for the 12 month period to 31 March 2024. The results are, therefore, not directly comparable.

Prior period adjustment

A prior year adjustment has been made to correct items that had been included within the profit and loss account, and which related either to capital expenditure, or intercompany transactions with the Parent company, Jalet Property Services Ltd.

The adjustment has been made retrospectively and the comparative figures for the period ended 31 March 2024 have been restated accordingly.

The adjustment has reduced the loss in the company’s profit or loss account for the prior period by £114,127 to a loss of £60,155, increased fixed assets by £8,539, and reduced the amount owed to the Parent company from £1,433,332 to £1,327,744.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
	10 - 25 years straight line
Plant and machinery	5 years straight line
Fixtures and fittings	10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Prior period adjustment

A prior year adjustment has been made to correct items that had been included within the profit and loss account, and which related either to capital expenditure, or intercompany transactions with the Parent company, Jalet Property Services Ltd.

The adjustment has reduced the pre-tax loss for the period ended 31 March 2024 by £114,127 to a loss of £60,155, and reduced the opening retained loss position at 1 April 2024 by £114,127, from £174,282 to £60,155.

		As previously reported		Adjustment		As restated
Period ended 31 March 2024		£		£		£
Repairs and maintenance		158,475		(105,588)		52,887
Legal and professional fees		8,985		(8,539)		446
Land and buildings		1,237,193		8,539		1,245,732
Amounts owed to Parent undertaking		1,433,332		(105,588)		1,327,744

3. Employees

	Period from 01.04.2024 to 31.07.2025		Period from 16.03.2023 to 31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	1		1

4. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2024	1,245,732		6,900		16,728		1,269,360
Additions	302,855		0		8,255		311,110
At 31 July 2025	1,548,587		6,900		24,983		1,580,470
Accumulated depreciation
At 01 April 2024	0		690		1,678		2,368
Charge for the financial period	13,537		1,840		2,754		18,131
At 31 July 2025	13,537		2,530		4,432		20,499
Net book value
At 31 July 2025	1,535,050		4,370		20,551		1,559,971
At 31 March 2024	1,245,732		6,210		15,050		1,266,992

5. Debtors

	31.07.2025		31.03.2024
	£		£
Prepayments	239		1,673

6. Creditors: amounts falling due within one year

	31.07.2025		31.03.2024
	£		£
Trade creditors	30		0
Amounts owed to Parent undertakings (note 7)	1,748,661		1,327,744
Amounts owed to connected companies (note 7)	2,511		0
Amounts owed to directors (note 7)	5,836		1,812
Accruals	13,200		1,795
	1,770,238		1,331,351

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

7. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.

Transactions with related parties or connected persons

Amounts owed to connected companies

	31.07.2025		31.03.2024
	£		£
Towerstile Ltd	2,511		0

The above loan is interest free and repayable on demand.

Transactions with the entity’s directors (or members of its governing body)

Amounts owed to directors

	31.07.2025		31.03.2024
	£		£
Directors' Loan Account	5,836		1,812

The above loan is interest free and repayable on demand.

8. Ultimate controlling party

Parent Company:

Jalet Property Services Ltd

Springfield House, Springfield Road, Horsham, West Sussex, RH12 2RG

The company is controlled by Jalet Property Services Ltd, the immediate Parent company. The ultimate controlling party are the directors of Jalet Estates Ltd, which is the ultimate parent company of the group.

The parent company is exempt from preparing consolidated financial statements under the small‑group exemption in the Companies Act 2006, and therefore no consolidated financial statements are produced for the group.