| Balance Sheet | 3 |
| Statement of Compliance | 4 |
| Notes to the Financial Statements | 5–12 |
| 2025 £ |
2024 £ |
|
|---|---|---|
| Fixed assets | ||
| Tangible assets | ||
| Current assets | ||
| Creditors: amounts falling due within one year | ( |
( |
| Net current assets (liabilities) | ( |
( |
| Total assets less current liabilities | ( |
( |
| Creditors: amounts falling due after more than one year | ( |
( |
| Total net assets (liabilities) | ( |
( |
| Capital and reserves | ||
| Called up share capital | ||
| Profit and loss account | ( |
( |
| ( |
( |
The directors have elected not to deliver a copy of the profit and loss account to the registrar, in accordance with section 444(5A) of the Companies Act 2006.
Directors' responsibilities:
The accounts were approved by the Board of Directors and authorised for issue on 2 November 2026.
Turnover
Turnover is recognised when goods are delivered or services are provided.
Taxation
Corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Debtors
Debtors are recognised at the settlement amount due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments.
Creditors
Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event.
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.
The average number of employees during the period was: 1
These financial statements have been prepared under the historical cost convention in accordance with FRS 102 Section 1A and the Companies Act 2006. The company is a private company, limited by shares. The financial statements are presented in pounds sterling and in whole pounds. The company's functional currency is US dollars.
Assets and liabilities are translated at the closing rate on the balance sheet date. Income and expenses are translated at the average rate for the year. The difference is taken to a translation reserve in equity and is not part of the profit for the year. Last year's figures are as previously reported.
Turnover is the price of event entries, net of discounts. It is recognised when the event takes place. Money received for events after the year end is shown as income in advance.
Costs paid before an event that relate to it are carried forward as prepayments and charged when the event takes place.
Tangible fixed assets are measured at cost less depreciation. Depreciation is charged at 25% reducing balance on plant and machinery and on computer equipment.
The company is 100% owned by The League of Adventurists International Limited (05995303). Tom Morgan is a director of the company and of The League of Adventurists International Limited, and is its majority shareholder.
At 30 November 2025, £142,700 (2024: £27,341) was owed to The Equestrianists Ltd by The League of Adventurists International Limited. The loan is interest-free and repayable on demand, and most of it has been repaid since the year end.
At 30 November 2025 the company had net liabilities. Most of its liabilities are income received in advance for events after the year end, which is earned when those events run rather than repaid. The company made a profit for the year and has the continued support of its parent company, The League of Adventurists International Limited. The director expects the company to continue in operation for at least twelve months from the date these accounts are approved, so they have been prepared on a going concern basis.
At 30 November 2025 Tom Morgan (Director) owed the company £45,815 (2024: £45,315). The loan is interest-free, unsecured and repayable on demand. Part of this was repaid after the year end.
The profit and loss account on the balance sheet includes a translation reserve of £26,666 (last year £0). It arises from translating the USD accounts into pounds and is not distributable. The profit and loss reserve excluding it is (£668,432).