Stable Close Equine Limited - Accounts to registrar (filleted) - small 18.2
Stable Close Equine Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period |
| 1 September 2018 to 15 January 2020 |
| for |
| Stable Close Equine Limited |
| Stable Close Equine Limited (Registered number: 04873450) |
| Contents of the Financial Statements |
| for the Period 1 September 2018 to 15 January 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Stable Close Equine Limited |
| Company Information |
| for the Period 1 September 2018 to 15 January 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Bennett House |
| The Dean |
| Alresford |
| Hampshire |
| SO24 9BH |
| Stable Close Equine Limited (Registered number: 04873450) |
| Balance Sheet |
| 15 January 2020 |
| 2020 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Stable Close Equine Limited (Registered number: 04873450) |
| Balance Sheet - continued |
| 15 January 2020 |
| 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 and authorised for issue on |
| Stable Close Equine Limited (Registered number: 04873450) |
| Notes to the Financial Statements |
| for the Period 1 September 2018 to 15 January 2020 |
| 1. | STATUTORY INFORMATION |
| Stable Close Equine Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Goodwill |
| Goodwill represents the amounts paid in connection with the acquisitions of businesses in 2004 and 2006. For each acquisition the goodwill has been written off over its estimated useful life of five years. |
| 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 |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stock is recognised at the lower of cost (based on the wholesaler list price, less settlement discounts and rebates) and net realisable value, with appropriate provision included for any slow moving or obsolete stock items and based on quantities ascertained from a full physical stock count. |
| Taxation |
| Taxation for the period 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 period 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. |
| Stable Close Equine Limited (Registered number: 04873450) |
| Notes to the Financial Statements - continued |
| for the Period 1 September 2018 to 15 January 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 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 period was |
| 4. | INTANGIBLE FIXED ASSETS |
| Fee |
| Goodwill | Goodwill | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2018 |
| and 15 January 2020 |
| AMORTISATION |
| At 1 September 2018 |
| and 15 January 2020 |
| NET BOOK VALUE |
| At 15 January 2020 |
| At 31 August 2018 |
| Stable Close Equine Limited (Registered number: 04873450) |
| Notes to the Financial Statements - continued |
| for the Period 1 September 2018 to 15 January 2020 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 September 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 15 January 2020 |
| DEPRECIATION |
| At 1 September 2018 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) |
| At 15 January 2020 |
| NET BOOK VALUE |
| At 15 January 2020 |
| At 31 August 2018 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2018 |
| Disposals | ( |
) | ( |
) |
| Transfer to ownership | (113,545 | ) | (89,403 | ) | (202,948 | ) |
| At 15 January 2020 |
| DEPRECIATION |
| At 1 September 2018 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) |
| Transfer to ownership | (66,229 | ) | (89,403 | ) | (155,632 | ) |
| At 15 January 2020 |
| NET BOOK VALUE |
| At 15 January 2020 |
| At 31 August 2018 | ( |
) |
| Stable Close Equine Limited (Registered number: 04873450) |
| Notes to the Financial Statements - continued |
| for the Period 1 September 2018 to 15 January 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Accrued Income |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2018 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Pensions | - | 341 |
| VAT | 10,392 | 25,420 |
| Other creditors |
| Directors loan account | - | 10,736 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2018 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2020 | 2018 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating | leases |
| 2020 | 2018 |
| £ | £ |
| Within one year |
| Between one and five years |
| The total amount of financial commitments not included on the balance sheet is £45,833. |
| Stable Close Equine Limited (Registered number: 04873450) |
| Notes to the Financial Statements - continued |
| for the Period 1 September 2018 to 15 January 2020 |
| 10. | PROVISIONS FOR LIABILITIES |
| 2020 | 2018 |
| £ | £ |
| Deferred tax | 12,856 | 18,469 |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2018 |
| Accelerated Capital Allowances | (5,613 | ) |
| Balance at 15 January 2020 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| 12. | RELATED PARTY DISCLOSURES |
| During the period, total dividends of £153,202 were paid to the directors . |
| Mrs A M Sergeant |
| (Director) |
| During the year the director provided an interest free, unsecured loan that was repayable on demand. At the balance sheet date the balance owed to the company was £2,095 (2018: £-4,488). The sum of £326 was advanced to the director in the period, and £6,909 was repaid. As the director resigned on 15th January this has been included under other debtors. |
| Dividends of £76,601 (2018: £63,626) were paid to the director in the period. |
| Mr M J Morley |
| (Director) |
| During the year the director provided an interest free, unsecured loan that was repayable on demand. At the balance sheet date the balance owed to the company was £2,063 (2018: £-6,248). The sum of £100 was advanced to the director in the period, and £8,411 was repaid. As the director resigned on 15th January this has been included under other debtors . |
| Dividends of £76,601 (2018: £63,626) were paid to the director in the period. |
| 13. | ULTIMATE CONTROLLING PARTY |
| Up to 15 January 2020 the Company was controlled by Mr M J Morley and Mrs A M Sergeant (former directors). At the balance sheet date, the company's immediate controlling party was VetPartners Limited, whose ultimate controlling parent undertaking was BC European Capital X, a collection of Limited partnerships with no single controlling party. |