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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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KSB EQUINE SERVICES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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KSB EQUINE SERVICES LIMITED |
KSB EQUINE SERVICES LIMITED (REGISTERED NUMBER: 06510686) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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KSB EQUINE SERVICES LIMITED |
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COMPANY INFORMATION |
for the year ended 31 March 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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KSB EQUINE SERVICES LIMITED (REGISTERED NUMBER: 06510686) |
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STATEMENT OF FINANCIAL POSITION |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
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CURRENT ASSETS |
Inventories |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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KSB EQUINE SERVICES LIMITED (REGISTERED NUMBER: 06510686) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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KSB Equine Services Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
In preparing the financial statements, management is required to make estimates and assumptions which affect reported |
income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and |
application of judgement are inherent in the formation of estimates, together with past experience and expectations of future |
events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such |
estimates. |
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Critical judgements in applying the company's policies |
The management consider that no significant judgements have had to be made in preparing these financial statements. |
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Critical accounting estimates and assumptions |
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The director does not consider that any estimates and assumptions used in the preparation of these financial statements have |
a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial |
year. |
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Revenue |
Revenue represents goods and services supplied, excluding value added tax. Revenue is recognised to the extent that the |
company has obtained the right to consideration through its performance and is measured at the fair value of the right to |
consideration. |
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Property, plant and equipment |
Items of property, plant and equipment are initially measured at cost. After initial recognition items of property, plant and |
equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses. |
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Depreciation is provided at the following annual rates in order to write off the cost value of each asset over its estimated |
useful life. |
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Fixtures and fittings | - | 20% on cost |
Computer equipment | - | 20% on cost |
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Inventories |
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. |
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Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and |
liabilities such as trade, other accounts receivable and payable and loans to related parties. |
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Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, |
initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
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Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future |
payments and subsequently at amortised costs using the effective interest method. |
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KSB EQUINE SERVICES LIMITED (REGISTERED NUMBER: 06510686) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2017 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of |
financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the |
date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Leasing commitments |
Operating lease rentals are charged against profits of the period to which they relate. |
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Going concern |
These financial statements have been prepared on the going concern basis, which assumes that the company will continue in |
operational existence for the foreseeable future. The validity of this assumption depends on the continued support of the |
company's bankers and its shareholders. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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KSB EQUINE SERVICES LIMITED (REGISTERED NUMBER: 06510686) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2017 |
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5. | DEBTORS |
2017 | 2016 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
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Other creditors |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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The director has provided personal guarantees to the bank in respect of the bank loans. |
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9. | OFF-BALANCE SHEET ARRANGEMENTS |
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The company had total operating lease commitments at the balance sheet date in the sum of £7,155 (2016 - £nil). |
KSB EQUINE SERVICES LIMITED (REGISTERED NUMBER: 06510686) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2017 |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2017 and 31 March 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Interest has been charged at normal commercial rates on the loan account whilst overdrawn in the sum of £1,080 (2016 - |
£410). |
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11. | FIRST YEAR ADOPTION |
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The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not |
impacted on equity or profit and loss. |
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