Progeny Stallions Ltd - Limited company accounts 25.1

REGISTERED NUMBER: 07694098 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

FOR

PROGENY STALLIONS LTD

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Financial Statements

6

DIRECTOR:

J P McHale

REGISTERED OFFICE:

Plaza 668

Hitchin Road

Luton

Bedfordshire

LU2 7XH

REGISTERED NUMBER:

07694098 (England and Wales)

ACCOUNTANTS:

Notts Limited

Chartered Accountants

Plaza 668

Hitchin Road

Luton

Bedfordshire

LU2 7XH

The director presents his report with the financial statements of the company for the year ended 31 January 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of breeding and trading of bloodstock.

DIRECTOR

J P McHale held office during the whole of the period from 1 February 2025 to the date of this report.

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

ON BEHALF OF THE BOARD:

J P McHale - Director

27 October 2026

TURNOVER

79,236

81,918

Cost of sales

86,797

28,017

GROSS (LOSS)/PROFIT

(7,561

)

53,901

Administrative expenses

19,057

15,722

OPERATING (LOSS)/PROFIT and

(LOSS)/PROFIT BEFORE TAXATION

(26,618

)

38,179

Tax on (loss)/profit

-

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(26,618

)

38,179

FIXED ASSETS

Tangible assets

5

152

196

CURRENT ASSETS

Stocks

40,000

45,000

Debtors

6

8,000

17,675

Prepayments and accrued income

452

-

Cash at bank

29,355

21,208

77,807

83,883

CREDITORS

Amounts falling due within one year

7

56,700

36,202

NET CURRENT ASSETS

21,107

47,681

TOTAL ASSETS LESS CURRENT
LIABILITIES

21,259

47,877

CAPITAL AND RESERVES

Called up share capital

180,000

Retained earnings

(158,741

)

(132,123

)

SHAREHOLDERS' FUNDS

21,259

47,877

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 27 October 2026 and were signed by:

J P McHale - Director

Called up

share

Retained

Total

capital

earnings

equity

£

Balance at 1 February 2024

180,000

(170,302

)

9,698

Changes in equity

Profit for the year

-

38,179

Total comprehensive income

-

38,179

Balance at 31 January 2025

180,000

(132,123

)

47,877

Changes in equity

Deficit for the year

-

(26,618

)

(26,618

)

Total comprehensive income

-

(26,618

)

(26,618

)

Balance at 31 January 2026

180,000

(158,741

)

21,259

1.	STATUTORY INFORMATION

Progeny Stallions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and 15% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.Net realisable value is based on selling price less anticipated costs to completion and selling costs. Expenses incurred in the keep of foals are accounted for as costs attributable to the respective foals, subject to consideration of 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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2025 - 1 ) .

4.	OPERATING (LOSS)/PROFIT

The operating loss (2025 - operating profit) is stated after charging:

2026

2025

£

Depreciation - owned assets

44

4

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2025

and 31 January 2026

200

DEPRECIATION

At 1 February 2025

4

Charge for year

44

At 31 January 2026

48

NET BOOK VALUE

At 31 January 2026

152

At 31 January 2025

196

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

8,000

17,675

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade creditors

8,804

1,540

Taxation and social security

5,054

10,854

Other creditors

42,842

23,808

56,700

36,202

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2026 and 31 January 2025:

2026

2025

£

J P McHale

Balance outstanding at start of year

(19,375

)

(8,350

)

Amounts advanced

-

100

Amounts repaid

(1,067

)

(11,125

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(20,442

)

(19,375

)