RB Equestrian Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04716728 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

RB EQUESTRIAN LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

Mr EN Boggis

Mrs R Boggis

Mrs K Jaquet

SECRETARY:

Mr EN Boggis

REGISTERED OFFICE:

Lower Rectory Farm

Great Brickhill

Milton Keynes

MK17 9AF

REGISTERED NUMBER:

04716728 (England and Wales)

ACCOUNTANTS:

Jonathan Vowles Chartered Accountants

114 High Street

Cranfield

Bedford

MK43 0DG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

37,643

57,783

37,643

57,783

CURRENT ASSETS

Stocks

6

373,123

407,487

Debtors

7

102,415

27,325

Investments

8

21,232

8,811

Cash at bank and in hand

55,814

38,800

552,584

482,423

CREDITORS

Amounts falling due within one year

9

422,783

331,887

NET CURRENT ASSETS

129,801

150,536

TOTAL ASSETS LESS CURRENT LIABILITIES

167,444

208,319

PROVISIONS FOR LIABILITIES

11

6,867

10,515

NET ASSETS

160,577

197,804

CAPITAL AND RESERVES

Called up share capital

12

93

93

Retained earnings

13

160,484

197,711

SHAREHOLDERS' FUNDS

160,577

197,804

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 16 December 2019 and were signed on its behalf by:

Mr EN Boggis - Director

Mrs R Boggis - Director

1.	STATUTORY INFORMATION

RB Equestrian 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is now fully amortised.

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.

Improvements to property

-

20% on reducing balance

Plant and equipment

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the

balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where

material, provisions are calculated on a discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2018 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

60,000

AMORTISATION

At 1 April 2018

and 31 March 2019

60,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

equipment

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

40,688

46,761

101,771

34,730

223,950

Additions

-

400

251

908

1,559

Disposals

-

(22,556

)

(12,875

)

(9,996

)

(45,427

)

At 31 March 2019

40,688

24,605

89,147

25,642

180,082

DEPRECIATION

At 1 April 2018

38,968

40,133

55,242

31,824

166,167

Charge for year

430

4,822

15,492

955

21,699

Eliminated on disposal

-

(22,556

)

(12,875

)

(9,996

)

(45,427

)

At 31 March 2019

39,398

22,399

57,859

22,783

142,439

NET BOOK VALUE

At 31 March 2019

1,290

2,206

31,288

2,859

37,643

At 31 March 2018

1,720

6,628

46,529

2,906

57,783

6.

STOCKS

2019

2018

£

£

Stocks

373,123

407,487

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

6

Provision for bad debts

-

(2,914

)

Other debtors

88,135

20,903

Deposit

5,130

5,130

Gubblecote

3,600

3,600

Prepayments

5,550

600

102,415

27,325

8.	CURRENT ASSET INVESTMENTS

2019

2018

£

£

Seven Investment

21,232

8,811

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts (see note 10)

9,408

10,563

Trade creditors

181,110

107,118

Tax

10,154

1,181

Social security and other taxes

3,747

1,253

VAT

21,756

23,735

Other creditors

7,399

6,159

Wages control account

1,536

-

Pension Fund

1,689

(460

)

Directors' current accounts

181,549

181,063

Accrued expenses

4,435

1,275

422,783

331,887

10.

LOANS

An analysis of the maturity of loans is given below:

2019

2018

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

9,408

10,563

11.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax FA allowances

6,867

10,515

Deferred

tax

£

Balance at 1 April 2018

10,515

Accelerated capital allowances

(3,648

)

Balance at 31 March 2019

6,867

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

90

Ordinary

£1

90

90

1

"A" Ordinary

£1

1

1

1

"B" Ordinary

£1

1

1

1

"C" Ordinary

£1

1

1

93

93

13.

RESERVES

Retained

earnings

£

At 1 April 2018

197,711

Profit for the year

27,175

Dividends

(64,402

)

At 31 March 2019

160,484

14.	RELATED PARTY DISCLOSURES

The company lent money to Gubblecote Ltd, a company related by common control. The balance outstanding at

the end of the year was £3,600.

15.	ULTIMATE CONTROLLING PARTY

The directors control the company through their shareholding.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of RB Equestrian Ltd for the year ended 31 March 2019 which comprise the Income Statement,

Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of RB Equestrian Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of RB Equestrian Ltd and state those matters that we have agreed to state to the Board of Directors of RB Equestrian Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RB Equestrian Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that RB Equestrian Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of RB Equestrian Ltd. You consider that RB Equestrian Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of RB Equestrian Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jonathan Vowles Chartered Accountants

114 High Street

Cranfield

Bedford

MK43 0DG

16 December 2019