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REGISTERED NUMBER: 14173373 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

15TH JUNE 2022 TO 30TH NOVEMBER 2023

FOR

AARON WALKER RACING LIMITED

AARON WALKER RACING LIMITED (REGISTERED NUMBER: 14173373)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 15TH JUNE 2022 TO 30TH NOVEMBER 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


AARON WALKER RACING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 15TH JUNE 2022 TO 30TH NOVEMBER 2023







Director: R Walker





Registered office: Network House, Thorn Office Centre
Straightmile Road, Rotherwas
Hereford
Herefordshire
HR2 6JT





Registered number: 14173373 (England and Wales)

AARON WALKER RACING LIMITED (REGISTERED NUMBER: 14173373)

BALANCE SHEET
30TH NOVEMBER 2023

Notes £ £
Fixed assets
Tangible assets 4 17,673

Current assets
Debtors 5 131,360
Cash at bank and in hand 1,094
132,454
Creditors
Amounts falling due within one year 6 1,648,598
Net current liabilities (1,516,144 )
Total assets less current liabilities (1,498,471 )

Capital and reserves
Called up share capital 7 100
Retained earnings (1,498,571 )
Shareholders' funds (1,498,471 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

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
(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.

AARON WALKER RACING LIMITED (REGISTERED NUMBER: 14173373)

BALANCE SHEET - continued
30TH NOVEMBER 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 director and authorised for issue on 14th March 2024 and were signed by:





R Walker - Director


AARON WALKER RACING LIMITED (REGISTERED NUMBER: 14173373)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 15TH JUNE 2022 TO 30TH NOVEMBER 2023


1. Statutory information

Aaron Walker Racing Limited is a private company, limited by shares , registered in England and Wales. 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.

The balance sheet at the year end shows net liabilities of £1,498,471, which include amounts owed to related parties of £1,635,900. The director considers that the company is able to meet its obligations as they fall due and confirms that they will continue to support the company. Therefore they consider it appropriate to adopt the going concern basis in preparing these accounts.

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
Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant & equipment 20% SL

AARON WALKER RACING LIMITED (REGISTERED NUMBER: 14173373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15TH JUNE 2022 TO 30TH NOVEMBER 2023


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities.

AARON WALKER RACING LIMITED (REGISTERED NUMBER: 14173373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15TH JUNE 2022 TO 30TH NOVEMBER 2023


2. Accounting policies - continued
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the period 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 period 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.

3. Employees (including officers)

The average number of employees during the period was 2 .

AARON WALKER RACING LIMITED (REGISTERED NUMBER: 14173373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15TH JUNE 2022 TO 30TH NOVEMBER 2023


4. Tangible fixed assets
Plant &
equipment
£
Cost
Additions 24,950
At 30th November 2023 24,950
Depreciation
Charge for period 7,277
At 30th November 2023 7,277
Net book value
At 30th November 2023 17,673

5. Debtors: amounts falling due within one year
£
Other debtors 1,243
Prepayments & accrued income 124,967
VAT 5,150
131,360

6. Creditors: amounts falling due within one year
£
Trade creditors 10,723
Amounts owed to related parties 1,635,900
Social security & other tax 675
Accruals 1,300
1,648,598

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal
value: £
100 Ordinary £1 100

8. Contingent liabilities & lease commitments

There were no contingent liabilities or lease commitments at 30th November 2023.

AARON WALKER RACING LIMITED (REGISTERED NUMBER: 14173373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15TH JUNE 2022 TO 30TH NOVEMBER 2023


9. Director's advances, credits and guarantees

During the period, the director used a current account with the company to record amounts due to them and amounts drawn by them. Loans and advances totalling £8,985 and repayments totalling £8,985 were made during the period. The balance at the period end was £nil.

The loans and advances were made interest free and were repayable on demand.

10. Related party disclosures

The following transactions took place with related parties on normal commercial terms during the year:



Other
related
parties
£   

Loans1,636,900
Repayments1,000
Amounts owed to related parties1,635,900

Within other debtors included a balance of £1,243, owed to the company by a related party.