| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 November 2025 |
| for |
| Esm Equestrian Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 November 2025 |
| for |
| Esm Equestrian Ltd |
| Esm Equestrian Ltd (Registered number: 12035949) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Esm Equestrian Ltd |
| Company Information |
| for the Year Ended 30 November 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Old Stables |
| Sutton Manor Farm |
| Bishops Sutton |
| Alresford |
| Hampshire |
| SO24 0AA |
| Esm Equestrian Ltd (Registered number: 12035949) |
| Balance Sheet |
| 30 November 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Esm Equestrian Ltd (Registered number: 12035949) |
| Balance Sheet - continued |
| 30 November 2025 |
| The financial statements were approved by the director and authorised for issue on |
| Esm Equestrian Ltd (Registered number: 12035949) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2025 |
| 1. | STATUTORY INFORMATION |
| Esm Equestrian Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements for the period under review have been prepared on a going concern basis. The director has considered a period of twelve months from the period of approval of these financial statements, whereby funding remains in place to continue to operate the business. On this basis, the director believes that it is prudent to prepare the accounts on a going concern basis. |
| The director has also sought assurances from JLE Group Limited, the company's largest creditor, who have indicated that that entity will not withdraw funding for at least 12 months beyond the balance sheet authorisation date, if it results in the company being able to meet its ongoing financial obligations. |
| If this assumption proves to be inappropriate, then adjustments may have to be made to adjust the assets to their recoverable amounts and to provide for any further liabilities which may arise. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: |
| Land | - Not provided |
| Freehold buildings | - Straight line over 10 years |
| Plant and machinery | - Straight line over 5 years |
| Show-jumps | - Straight line over 5 years |
| Motor vehicles | - Straight line over 5 years |
| Computer equipment | - Straight line over 5 years |
| Stocks |
| Stocks of competition horses, broodmares, youngstock and foals are included at the lower of cost and net realisable value. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Esm Equestrian Ltd (Registered number: 12035949) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 December 2024 |
| and 30 November 2025 |
| AMORTISATION |
| At 1 December 2024 |
| Charge for year |
| At 30 November 2025 |
| NET BOOK VALUE |
| At 30 November 2025 |
| At 30 November 2024 |
| Esm Equestrian Ltd (Registered number: 12035949) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST |
| At 1 December 2024 |
| Additions |
| Disposals | ( |
) |
| At 30 November 2025 |
| DEPRECIATION |
| At 1 December 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 November 2025 |
| NET BOOK VALUE |
| At 30 November 2025 |
| At 30 November 2024 |
| Motor | Computer |
| Show-jumps | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 December 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 November 2025 |
| DEPRECIATION |
| At 1 December 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 November 2025 |
| NET BOOK VALUE |
| At 30 November 2025 |
| At 30 November 2024 |
| 6. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Horses and youngstock | 5,489,515 | 4,073,963 |
| Esm Equestrian Ltd (Registered number: 12035949) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2025 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 58,262 | 86,147 |
| VAT |
| Deferred tax asset |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| JLE Group Limited loan | 7,145,222 | 5,261,786 |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| 10. | DEFERRED TAX |
| £ |
| Balance at 1 December 2024 | ( |
) |
| Accelerated capital allowances | (116,654 | ) |
| On unutilised losses | (93,781 | ) |
| Balance at 30 November 2025 | ( |
) |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | 1 | 100 | 100 |
| Esm Equestrian Ltd (Registered number: 12035949) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2025 |
| 12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 November 2025 and 30 November 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The loan is repayable on demand and Interest has been charged at a rate of 3.25%. |
| 13. | RELATED PARTY DISCLOSURES |
| JLE Group Limited |
| A company in which Mr J L Evans is director and 100% shareholder |
| JLE Group Limited provided loan facilities to ESM Equestrian Limited across the trading period. During the year JLE Group Limited loaned the company a further £3,585,113 and JLE Group Limited wrote off £1,701,677 of the loan during the year (2024: JLE Group Limited wrote off £7,500,000 of the outstanding loan). The balance of the loan outstanding at the year end amounted to £7,145,222 (2024: £5,261,786) and is included within creditors due within one year. This loan is subject to a market rate of interest. This loan is given unrestricted and is repayable on demand, but not if this left the company unable to meet its ongoing expenses and liabilities. |
| ESM Property Investments Ltd |
| A company in which Mr J L Evans is director and 100% shareholder |
| During the year the company paid ESM Property Investments Ltd rent of £12,000 (2024: £12,000). |
| 14. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is the director, Mr J L Evans, by virtue of his controlling 100% shareholding. |