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REGISTERED NUMBER: OC412277 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

JAC RACING LLP

JAC RACING LLP (REGISTERED NUMBER: OC412277)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAC RACING LLP

GENERAL INFORMATION
For The Year Ended 31 March 2023







DESIGNATED MEMBERS: Mr S P Brown
Mrs J Brown





REGISTERED OFFICE: Martha's Lodge
106 Welham Road
Norton
Malton
YO17 9DS





REGISTERED NUMBER: OC412277 (England and Wales)





ACCOUNTANTS: Fortus North Limited
Equinox House
Clifton Park, Shipton Road
York
Yorkshire
YO30 5PA

JAC RACING LLP (REGISTERED NUMBER: OC412277)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 177,750 109,241

CURRENT ASSETS
Stocks 111,242 86,161
Debtors 5 87,500 72,930
Cash at bank 18,886 2,537
217,628 161,628
CREDITORS
Amounts falling due within one year 6 224,242 208,583
NET CURRENT LIABILITIES (6,614 ) (46,955 )
TOTAL ASSETS LESS CURRENT LIABILITIES 171,136 62,286

CREDITORS
Amounts falling due after more than
one year

7

19,861

28,997
NET ASSETS ATTRIBUTABLE TO MEMBERS 151,275 33,289

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

151,275

33,289

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 151,275 33,289

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

JAC RACING LLP (REGISTERED NUMBER: OC412277)

BALANCE SHEET - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 2 November 2023 and were signed by:




Mrs J Brown - Designated member




Mr S P Brown - Designated member


JAC RACING LLP (REGISTERED NUMBER: OC412277)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

JAC Racing LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

These financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Turnover
Turnover represents income from training horses and associated recharges. There is also an element of income from racing horses owned by the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock represents horses owned by the business. It also contains consumables that were held at the year end. Stock is valued at the lower of cost and net realisable value. Included in the stock figure is the work-in-progress as at the year end. This is made up of all work completed not yet invoiced.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 20 (2022 - 12 ) .

JAC RACING LLP (REGISTERED NUMBER: OC412277)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2022 30,297 72,000 60,441 162,738
Additions 58,476 7,290 26,500 92,266
At 31 March 2023 88,773 79,290 86,941 255,004
DEPRECIATION
At 1 April 2022 - 16,897 36,600 53,497
Charge for year - 11,171 12,586 23,757
At 31 March 2023 - 28,068 49,186 77,254
NET BOOK VALUE
At 31 March 2023 88,773 51,222 37,755 177,750
At 31 March 2022 30,297 55,103 23,841 109,241

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 76,857 66,215
Other debtors 10,643 6,715
87,500 72,930

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 43,944 40,676
Trade creditors 117,732 124,085
Taxation and social security 14,016 21,150
Other creditors 48,550 22,672
224,242 208,583

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 19,861 28,997

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.