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REGISTERED NUMBER: 07455502 (England and Wales)








Unaudited Financial Statements

For The Year Ended 31 December 2021

for

J D Racing Limited

J D Racing Limited (Registered number: 07455502)






Contents of the Financial Statements
For The Year Ended 31 December 2021




Page

Balance Sheet 1

Notes to the Financial Statements 3


J D Racing Limited (Registered number: 07455502)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 22,500 25,000
Tangible assets 5 79,817 32,421
102,317 57,421

CURRENT ASSETS
Stocks 803,566 558,660
Debtors 6 32,945 12,604
Cash at bank 152,650 333,827
989,161 905,091
CREDITORS
Amounts falling due within one year 7 699,495 538,885
NET CURRENT ASSETS 289,666 366,206
TOTAL ASSETS LESS CURRENT
LIABILITIES

391,983

423,627

CREDITORS
Amounts falling due after more than one
year

8

-

(43,333

)

PROVISIONS FOR LIABILITIES (12,507 ) (5,459 )
NET ASSETS 379,476 374,835

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 379,475 374,834
SHAREHOLDERS' FUNDS 379,476 374,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

J D Racing Limited (Registered number: 07455502)

Balance Sheet - continued
31 December 2021


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 director and authorised for issue on 15 August 2022 and were signed by:





Mrs T Deacon - Director


J D Racing Limited (Registered number: 07455502)

Notes to the Financial Statements
For The Year Ended 31 December 2021

1. STATUTORY INFORMATION

J D Racing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07455502

Registered office: Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

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.

Turnover represents sales net of VAT and discount and is recognised on transfer of goods to customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - over period of the lease
Plant and machinery etc - 25% on reducing balance and 25% on cost

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 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.

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.

J D Racing Limited (Registered number: 07455502)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2021
and 31 December 2021 50,000 3,000 53,000
AMORTISATION
At 1 January 2021 25,000 3,000 28,000
Charge for year 2,500 - 2,500
At 31 December 2021 27,500 3,000 30,500
NET BOOK VALUE
At 31 December 2021 22,500 - 22,500
At 31 December 2020 25,000 - 25,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2021 10,101 64,836 74,937
Additions 18,306 39,937 58,243
At 31 December 2021 28,407 104,773 133,180
DEPRECIATION
At 1 January 2021 6,414 36,102 42,516
Charge for year 1,118 9,729 10,847
At 31 December 2021 7,532 45,831 53,363
NET BOOK VALUE
At 31 December 2021 20,875 58,942 79,817
At 31 December 2020 3,687 28,734 32,421

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 17,614 9,375
Other debtors 15,331 3,229
32,945 12,604

J D Racing Limited (Registered number: 07455502)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts - 6,667
Trade creditors 589,027 312,883
Taxation and social security 36,411 179,387
Other creditors 74,057 39,948
699,495 538,885

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans - 43,333

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 3,333

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.21 31.12.20
£    £   
Within one year 35,034 24,904
Between one and five years 18,933 31,130
53,967 56,034

10. SECURED DEBTS

The bank overdraft is secured by fixed and floating charges over the company's assets.

The creditor balances owing to KTM Sportmotorcycles AG are secured by a £60,000 guarantee held in cash at bank at the year end.

The creditor balances owing to Gas Gas are secured by a £25,000 guarantee held in cash at bank at the year end.