Equine Sense Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09957039 (England and Wales)

Equine Sense Limited

Unaudited Financial Statements

for the Year Ended 31 December 2019

Page

Company information

1

Chartered accountants' report

2

Balance sheet

3

Notes to the financial statements

5

Directors:

D A Hutchinson

M Hildred

D Hildred

C Hildred

Registered office:

Little Field

Fen Road

Frampton West

Boston

Lincolnshire

PE20 1RZ

Registered number:

09957039 (England and Wales)

Accountants:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

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 Equine Sense Limited for the year ended 31 December 2019 which comprise the

Statement of income and retained earnings, 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 Equine Sense Limited, as a body, in accordance with the terms of our engagement letter dated 14 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Equine Sense Limited and state those matters that we have agreed to state to the Board of Directors of Equine Sense Limited, 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 Equine Sense Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Equine Sense Limited 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 loss of Equine Sense Limited. You consider that Equine Sense Limited 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 Equine Sense Limited. 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.

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

29 May 2020

Fixed assets

Tangible assets

4

425

473

Current assets

Stocks

94,710

108,193

Debtors

5

6,122

7,212

Cash at bank

16,333

7,436

117,165

122,841

Creditors

Amounts falling due within one year

6

123,894

125,660

Net current liabilities

(6,729

)

(2,819

)

Total assets less current liabilities

(6,304

)

(2,346

)

Provisions for liabilities

25

21

Net liabilities

(6,329

)

(2,367

)

Capital and reserves

Called up share capital

7

100

100

Retained earnings

(6,429

)

(2,467

)

Shareholders' funds

(6,329

)

(2,367

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2020 and were signed on its behalf by:

D Hildred - Director

1.	Statutory information

Equine Sense Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated

depreciation and impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,

over the useful economic life of that asset as follows:

Fixtures and fittings - 10% 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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in

the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a

similar debt instrument, those financial instruments are classed as financial liabilities. Financial

liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to

financial liabilities are included in the profit and loss account. Finance costs are calculated so as to

produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a

financial liability then this is classed as an equity instrument. Dividends and distributions relating to

equity instruments are debited directly to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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

Contributions to defined contribution plans are recognised as an expense in the period in which the

related service is provided.

Going concern

At the balance sheet date, current liabilities exceed current assets by £6,304 (2018 - £2,346). The

largest balance outstanding is amounts owed to group undertakings. The group undertaking has

indicated that they will continue to support the company therefore the accounts have been prepared on

a going concern basis.

3.	Employees and directors

The average number of employees during the year was 4 (2018 - 6 ) .

4.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 January 2019

and 31 December 2019

649

Depreciation

At 1 January 2019

176

Charge for year

48

At 31 December 2019

224

Net book value

At 31 December 2019

425

At 31 December 2018

473

5.

Debtors: amounts falling due within one year

2019

2018

£

£

Trade debtors

6,065

5,047

Amounts owed by group undertakings

-

2,108

Corporation tax repayable

57

57

6,122

7,212

6.

Creditors: amounts falling due within one year

2019

2018

£

£

Trade creditors

14,611

13,189

Amounts owed to group undertakings

103,484

109,006

Social security and other taxes

803

1,088

VAT

3,406

877

Accrued expenses

1,590

1,500

123,894

125,660

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

8.	Controlling party

The ultimate parent company is Boston Crop Sprayers Limited which is incorporated in the United

Kingdom.

The company together with its parent company and fellow subsidiary undertaking comprise a small

group. Hence the company is able to take advantage of the exemption from audit.