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Company Registration No. 4469503 (England and Wales)
Red Lodge Racing Limited Unaudited accounts for the year ended 30 June 2023
Red Lodge Racing Limited Unaudited accounts Contents
Page
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Red Lodge Racing Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,089 
7,425 
Current assets
Debtors
3,244 
1,990 
Cash at bank and in hand
39,235 
53,683 
42,479 
55,673 
Creditors: amounts falling due within one year
(43,921)
(40,591)
Net current (liabilities)/assets
(1,442)
15,082 
Total assets less current liabilities
19,647 
22,507 
Creditors: amounts falling due after more than one year
(6,863)
(10,167)
Net assets
12,784 
12,340 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
12,684 
12,240 
Shareholders' funds
12,784 
12,340 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by
N J Pomfret Director Company Registration No. 4469503
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Red Lodge Racing Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Red Lodge Racing Limited is a private company, limited by shares, registered in England and Wales, registration number 4469503. The registered office is Red Lodge Farm, Marefield Lane, Tilton on the Hill, Leicestershire, LE7 9LJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
These accounts are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.
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 from the rendering of services is recognised by reference to the stage of completion of the contract.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.33% per annum on cost
Motor vehicles
25% per annum on net book value
Fixtures & fittings
25% per annum on net book value
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Red Lodge Racing Limited Notes to the Accounts for the year ended 30 June 2023
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 July 2022
14,234 
13,200 
22,267 
49,701 
Additions
3,660 
- 
14,963 
18,623 
Disposals
- 
- 
(6,850)
(6,850)
At 30 June 2023
17,894 
13,200 
30,380 
61,474 
Depreciation
At 1 July 2022
13,360 
9,023 
19,893 
42,276 
Charge for the year
1,177 
1,044 
1,126 
3,347 
On disposals
- 
- 
(5,238)
(5,238)
At 30 June 2023
14,537 
10,067 
15,781 
40,385 
Net book value
At 30 June 2023
3,357 
3,133 
14,599 
21,089 
At 30 June 2022
874 
4,177 
2,374 
7,425 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
580 
Accrued income and prepayments
1,804 
1,410 
Other debtors
1,440 
- 
3,244 
1,990 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
3,050 
3,050 
Taxes and social security
- 
1,440 
Other creditors
38,412 
35,296 
Accruals
2,459 
805 
43,921 
40,591 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
6,863 
10,167 
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Red Lodge Racing Limited Notes to the Accounts for the year ended 30 June 2023
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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