Pendarves Equestrian Centre Limited

Contents

Directors' Report	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Pendarves Equestrian Centre Limited

Directors' Report for the Year Ended 31 March 2026

The directors present their report and the financial statements for the year ended 31 March 2026.

Directors of the company

The directors who held office during the year were as follows:

R E Weedon

S A Weedon

Principal activity

The principal activity of the company is the operation of an equestrian and training centre.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 21 July 2026 and signed on its behalf by:

......................................... R E Weedon Director

......................................... S A Weedon Director

Pendarves Equestrian Centre Limited

Balance Sheet

31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	35,574	37,299
Current assets
Debtors	5	-	1,309
Cash at bank and in hand		19,605	22,599
		19,605	23,908
Creditors: Amounts falling due within one year	6	(22,229)	(17,895)
Net current (liabilities)/assets		(2,624)	6,013
Total assets less current liabilities		32,950	43,312
Provisions for liabilities		(2,960)	(3,288)
Net assets		29,990	40,024
Capital and reserves
Called up share capital	7	1,000	1,000
Profit and loss account		28,990	39,024
Shareholders' funds		29,990	40,024

For the financial year ending 31 March 2026 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 21 July 2026 and signed on its behalf by:
 

......................................... R E Weedon Director

......................................... S A Weedon Director

Company Registration Number: 10162395

Pendarves Equestrian Centre Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2026

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:
Pendarves North Lodge
Pendarves Road
Camborne
Cornwall
TR14 0RT

The principal place of business is:
Pendarves Events Centre
Killivose
Near Camborne
Cornwall
TR14 9LQ

These financial statements were authorised for issue by the Board on 21 July 2026.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in pounds sterling which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest pound.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Revenue recognition

Turnover represents the consideration received, net of discounts, for the provision of equestrian facilities and associated services.

Turnover is recognised at the point when the event occurs, with any amounts received in advance of the use of facilities shown as deferred income in the financial statements.

Pendarves Equestrian Centre Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2026

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 acuisition and installation.

Biological assets comprise horses owned by the company. Biological assets are measured at fair value less costs to sell at each reporting date where fair value can be measured reliably. Changes in fair value less costs to sell are recognised in profit or loss in the period in which they arise.

Depreciation

Depreciation is charged so as to write off the depreciable value of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	Straight line over 10 years
Fixtures and fittings	Straight line over 5 years
Biological assets	Not depreciated

Pendarves Equestrian Centre Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2026

Financial instruments

The company holds the following financial instruments:

• Short term creditor balances, and
• Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
 

Critical judgements and estimation uncertainty

In applying the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2025 - 2).

Pendarves Equestrian Centre Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2026

4	Tangible assets

	Fixtures and fittings  £	Biological assets  £	Plant and Machinery £	Total £
Cost or valuation
At 1 April 2025	59,803	20,000	1,000	80,803
Additions	2,088	15,000	-	17,088
At 31 March 2026	61,891	35,000	1,000	97,891
Depreciation
At 1 April 2025	43,504	-	-	43,504
Charge for the year	6,313	-	-	6,313
Impairment	-	12,500	-	12,500
At 31 March 2026	49,817	12,500	-	62,317
Carrying amount
At 31 March 2026	12,074	22,500	1,000	35,574
At 31 March 2025	16,299	20,000	1,000	37,299

5

Debtors

	2026  £	2025  £
Prepayments	-	1,309
	-	1,309

6

Creditors

Creditors: amounts falling due within one year

	2026  £	2025  £
Due within one year
Other creditors	17,236	12,436
Accrued expenses	3,500	2,493
Corporation tax	1,493	2,966
	22,229	17,895

Pendarves Equestrian Centre Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2026

7	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	1,000	1,000	1,000	1,000

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The company is a lessee of the premises from which it operates.

The total amount of financial commitments not included in the balance sheet is £38,400 (2025 - £43,200).