COMPANY REGISTRATION NUMBER:
15940857
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
30 September 2025
Current assets
|
Stocks |
2,839,845 |
|
|
Debtors: due within one year |
4 |
35,854 |
|
|
------------ |
|
|
2,875,699 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
3,784,079 |
|
|
------------ |
|
|
Net current liabilities |
|
908,380 |
|
|
--------- |
|
Total assets less current liabilities |
|
(
908,380) |
|
|
|
|
|
Accruals and deferred income |
|
5,000 |
|
|
--------- |
|
Net liabilities |
|
(
913,380) |
|
|
--------- |
|
|
|
Capital and reserves
|
Called up share capital |
|
1 |
|
Profit and loss account |
|
(
913,381) |
|
|
--------- |
|
Shareholders deficit |
|
(
913,380) |
|
|
--------- |
|
|
|
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 comprehensive income has not been delivered.
For the period ending 30 September 2025 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 financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
17 June 2026
, and are signed on behalf of the board by:
Company registration number:
15940857
|
Notes to the Financial Statements |
|
Period ended 30 September 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 Lushington House, 119 High Street, Newmarket, CB8 9AE, Suffolk.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is financed by the director, and the director has confirmed they intend to support the company for the foreseeable future. The director believes the company is therefore a going concern.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable in respect of prize money, sponsorship, and sale of bloodstock which are net of discounts and Value Added Tax. Prize money is recognised on receipt from the British Horse Association. Sponsorship income is recognised on receipt from the British Horse Association or per the contract agreement. Sponsorship income is deferred if the contract period differs to the accounting year end. Sale of bloodstock income is recognised when the ownership of bloodstock passes from the seller to the buyer.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stock comprises bloodstock (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 a write down 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 transfer value is based on the net realisable value of the bloodstock as at the date of transfer.
4.
Debtors
Debtors falling due within one year are as follows:
|
2025 |
|
£ |
|
Other debtors |
35,854 |
|
-------- |
|
|
5.
Creditors:
amounts falling due within one year
|
2025 |
|
£ |
|
Social security and other taxes |
73,505 |
|
Other creditors |
3,710,574 |
|
------------ |
|
3,784,079 |
|
------------ |
|
|
6.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil.