Registered number
00889425
Billinghurst Racing Limited
Filleted Accounts
31 March 2023
Billinghurst Racing Limited
Registered number: 00889425
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Investments 4 1,675,000 1,595,000
Current assets
Debtors 5 1,473 1,397
Cash at bank and in hand 193,658 172,756
195,131 174,153
Creditors: amounts falling due within one year 6 (23,998) (20,286)
Net current assets 171,133 153,867
Total assets less current liabilities 1,846,133 1,748,867
Provisions for liabilities (414,957) (394,957)
Net assets 1,431,176 1,353,910
Capital and reserves
Called up share capital 100 100
Profit and loss account 738,283 661,017
Profit and loss account - not distributable 692,793 692,793
Shareholders' funds 1,431,176 1,353,910
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs D N K Dale
Director
Approved by the board on 3 October 2023
Billinghurst Racing Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes rental income derived from the investment property held by the company.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Deferred taxation has been provided for at 25%, being the rate applicablefor the relevant period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 970
At 31 March 2023 970
Depreciation
At 1 April 2022 970
At 31 March 2023 970
Net book value
At 31 March 2023 -
4 Investments
Other
investments
£
Cost
At 1 April 2022 1,595,000
Revaluation 80,000
At 31 March 2023 1,675,000
Historical cost
At 1 April 2022 15,175
At 31 March 2023 15,175
5 Debtors 2023 2022
£ £
Other debtors 1,473 1,397
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 4,370 4,418
Other creditors 19,628 15,868
23,998 20,286
7 Other information
Billinghurst Racing Limited is a private company limited by shares and incorporated in England. Its registered office is:
Kempston
Mill Hill
Edenbridge
Kent
TN8 5DQ
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