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REGISTERED NUMBER: 04360717
























UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023

FOR

HALE RACING LIMITED

HALE RACING LIMITED (REGISTERED NUMBER: 04360717)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HALE RACING LIMITED

COMPANY INFORMATION
for the Year Ended 31st January 2023







DIRECTORS: Mr R A Hale
Mrs S Hale





SECRETARY: Mrs S Hale





REGISTERED OFFICE: Inglenook
Culgaith
Penrith
Cumbria
CA10 1QL





REGISTERED NUMBER: 04360717





ACCOUNTANTS: DCB Accountants Limited
Compton House
104 Scotland Road
Penrith
Cumbria
CA11 7NR

HALE RACING LIMITED (REGISTERED NUMBER: 04360717)

BALANCE SHEET
31st January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 433,700 449,642
Investments 5 82,705 60,972
516,405 510,614

CURRENT ASSETS
Cash at bank 46,414 28,496

CREDITORS
Amounts falling due within one year 6 52,133 27,157
NET CURRENT (LIABILITIES)/ASSETS (5,719 ) 1,339
TOTAL ASSETS LESS CURRENT
LIABILITIES

510,686

511,953

PROVISIONS FOR LIABILITIES 7 2,994 4,076
NET ASSETS 507,692 507,877

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 506,692 506,877
SHAREHOLDERS' FUNDS 507,692 507,877

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2023 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.

HALE RACING LIMITED (REGISTERED NUMBER: 04360717)

BALANCE SHEET - continued
31st January 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14th September 2023 and were signed on its behalf by:





Mr R A Hale - Director


HALE RACING LIMITED (REGISTERED NUMBER: 04360717)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st January 2023

1. STATUTORY INFORMATION

Hale Racing Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

HALE RACING LIMITED (REGISTERED NUMBER: 04360717)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st January 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1st February 2022
and 31st January 2023 469,773 268,458 43,534 781,765
DEPRECIATION
At 1st February 2022 46,319 246,234 39,570 332,123
Charge for year 9,395 5,556 991 15,942
At 31st January 2023 55,714 251,790 40,561 348,065
NET BOOK VALUE
At 31st January 2023 414,059 16,668 2,973 433,700
At 31st January 2022 423,454 22,224 3,964 449,642

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.1.23 31.1.22
£    £   
Race horses at cost 40,463 40,463
Additions at cost 42,242 20,509
82,705 60,972

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 675 2,622
Tax 22,008 12,391
VAT 5,853 4,754
Directors' current accounts 20,367 4,230
Accrued expenses 3,230 3,160
52,133 27,157

7. PROVISIONS FOR LIABILITIES
31.1.23 31.1.22
£    £   
Deferred tax 2,994 4,076

Deferred
tax
£   
Balance at 1st February 2022 4,076
Reduction during year (1,082 )
Balance at 31st January 2023 2,994

HALE RACING LIMITED (REGISTERED NUMBER: 04360717)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st January 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. RESERVES
Retained
earnings
£   

At 1st February 2022 506,877
Profit for the year 79,815
Dividends (80,000 )
At 31st January 2023 506,692