Equine Sense Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09957039 (England and Wales)

Equine Sense Limited

Unaudited Financial Statements

for the Year Ended 31 December 2022

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

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 Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report 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 2022 which comprise the Statement of income and retained earnings, Statement of financial position 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

25 May 2023

Fixed assets

Tangible assets

5

521

836

Current assets

Stocks

91,875

86,557

Debtors

6

53,959

55,703

Cash at bank

13,182

21,742

159,016

164,002

Creditors

Amounts falling due within one year

7

141,346

128,255

Net current assets

17,670

35,747

Total assets less current liabilities

18,191

36,583

Creditors

Amounts falling due after more than one year

8

(24,920

)

(34,448

)

Provisions for liabilities

(68

)

(121

)

Net (liabilities)/assets

(6,797

)

2,014

Capital and reserves

Called up share capital

9

100

100

Retained earnings

(6,897

)

1,914

Shareholders' funds

(6,797

)

2,014

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 22 May 2023 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.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

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:

Office equipment - 10% reducing balance, computers 3 years straight line

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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

4.	Employees and directors

The average number of employees during the year was 5 (2021 - 4 ) .

5.	Tangible fixed assets

Office

equipment

£

Cost

At 1 January 2022

and 31 December 2022

1,491

Depreciation

At 1 January 2022

655

Charge for year

315

At 31 December 2022

970

Net book value

At 31 December 2022

521

At 31 December 2021

836

6.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

3,693

2,663

Amounts owed by group undertakings

50,000

53,040

Corporation tax repayable

266

-

53,959

55,703

Amounts owed by group undertakings include £50,000 (2021 £50,000) owed by Boston Crop Sprayers Limited and £nil (2021 £3,040) owed by Richard Austin Agriculture Limited.

7.

Creditors: amounts falling due within one year

2022

2021

£

£

Bank loans and overdrafts

9,886

10,000

Trade creditors

26,411

18,266

Amounts owed to group undertakings

6,074

-

Amounts owed to participating interests

94,456

94,456

Tax

-

266

Social security and other taxes

742

776

VAT

1,942

2,453

Accrued expenses

1,835

2,038

141,346

128,255

Bank loans and overdrafts include a Bounce Back loan payable over six years. Interest is chargeable twelve months after the loan being drawn. This loan is 100% government backed.

Amounts owed to group undertakings include £6,074 (2021 £nil) owed to Richard Austin Agriculture Limited.

Amounts owed to participating undertakings include £94,456 (2021 £94,556) owed to H L Hutchinson Limited.

8.

Creditors: amounts falling due after more than one year

2022

2021

£

£

Bank loans

24,920

34,448

Bank loans relate to a Bounce Back loan payable over six years. Interest is chargeable twelve months after the loan being drawn. This loan is 100% government backed.

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

10.	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.

11.	Going concern

At 31 December 2022, the company had liabilities in excess of assets of £6,797. The company has an undertaking of support from its parent company and hence the going concern basis remains appropriate.