IRIS Accounts Production v24.1.9.2 10414224 director 1.11.22 31.10.23 31.10.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh104142242022-10-31104142242023-10-31104142242022-11-012023-10-31104142242021-10-31104142242021-11-012022-10-31104142242022-10-3110414224ns15:EnglandWales2022-11-012023-10-3110414224ns14:PoundSterling2022-11-012023-10-3110414224ns10:Director12022-11-012023-10-3110414224ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3110414224ns10:SmallEntities2022-11-012023-10-3110414224ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3110414224ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3110414224ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3110414224ns10:FullAccounts2022-11-012023-10-3110414224ns10:RegisteredOffice2022-11-012023-10-3110414224ns5:CurrentFinancialInstruments2023-10-3110414224ns5:CurrentFinancialInstruments2022-10-3110414224ns5:ShareCapital2023-10-3110414224ns5:ShareCapital2022-10-3110414224ns5:RetainedEarningsAccumulatedLosses2023-10-3110414224ns5:RetainedEarningsAccumulatedLosses2022-10-3110414224ns5:PlantMachinery2022-11-012023-10-3110414224ns5:PlantMachinery2022-10-3110414224ns5:PlantMachinery2023-10-3110414224ns5:PlantMachinery2022-10-3110414224ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3110414224ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-31
REGISTERED NUMBER: 10414224 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

GFR RACING LIMITED

GFR RACING LIMITED (REGISTERED NUMBER: 10414224)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GFR RACING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: G F Reid





REGISTERED OFFICE: Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW





REGISTERED NUMBER: 10414224 (England and Wales)





ACCOUNTANTS: GBJ Financial Limited
Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW

GFR RACING LIMITED (REGISTERED NUMBER: 10414224)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 119 298

CURRENT ASSETS
Debtors 5 5,796 12,037
Cash at bank 37,344 21,054
43,140 33,091
CREDITORS
Amounts falling due within one year 6 1,646,705 1,297,806
NET CURRENT LIABILITIES (1,603,565 ) (1,264,715 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,603,446

)

(1,264,417

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (1,603,447 ) (1,264,418 )
(1,603,446 ) (1,264,417 )

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

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

GFR RACING LIMITED (REGISTERED NUMBER: 10414224)

BALANCE SHEET - continued
31 OCTOBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





G F Reid - Director


GFR RACING LIMITED (REGISTERED NUMBER: 10414224)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

GFR 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 financial statements have been prepared on a going concern basis as the director has confirmed that he will continue to support GFR Racing Limited in order that it can meet its liabilities as they fall due and continue to trade in the foreseeable future.

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 etc - at varying rates on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 20,312
DEPRECIATION
At 1 November 2022 20,014
Charge for year 179
At 31 October 2023 20,193
NET BOOK VALUE
At 31 October 2023 119
At 31 October 2022 298

GFR RACING LIMITED (REGISTERED NUMBER: 10414224)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1 1
Other debtors 5,795 12,036
5,796 12,037

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,904 9,005
Other creditors 1,643,801 1,288,801
1,646,705 1,297,806

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company's immediate parent is GFR Holdings Limited, a company incorporated in England and Wales.