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REGISTERED NUMBER: 04956687 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DECLAN CARROLL RACING LIMITED

DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DECLAN CARROLL RACING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: D C Carroll





SECRETARY: D Carroll





REGISTERED OFFICE: 2 Barley Close
Norton
Malton
North Yorkshire
YO17 9EP





REGISTERED NUMBER: 04956687 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,500 18,000
Tangible assets 5 54,815 46,429
68,315 64,429

CURRENT ASSETS
Stocks 9,404 13,547
Debtors 6 120,981 65,720
Cash at bank 130,707 125,217
261,092 204,484
CREDITORS
Amounts falling due within one year 7 120,227 107,173
NET CURRENT ASSETS 140,865 97,311
TOTAL ASSETS LESS CURRENT
LIABILITIES

209,180

161,740

CREDITORS
Amounts falling due after more than one
year

8

(15,000

)

(26,840

)

PROVISIONS FOR LIABILITIES (12,639 ) (9,450 )
NET ASSETS 181,541 125,450

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 181,441 125,350
SHAREHOLDERS' FUNDS 181,541 125,450

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

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

DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)

BALANCE SHEET - continued
31 DECEMBER 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 1 August 2024 and were signed by:





D C Carroll - Director


DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)

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

1. STATUTORY INFORMATION

Declan Carroll 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable from race horse training, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
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.
Freehold property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 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 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 45,000
AMORTISATION
At 1 January 2023 27,000
Charge for year 4,500
At 31 December 2023 31,500
NET BOOK VALUE
At 31 December 2023 13,500
At 31 December 2022 18,000

DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 30,245 84,720 471
Additions - 3,600 -
Disposals - (3,000 ) -
At 31 December 2023 30,245 85,320 471
DEPRECIATION
At 1 January 2023 21,619 64,082 277
Charge for year 1,510 4,367 39
Eliminated on disposal - (3,000 ) -
At 31 December 2023 23,129 65,449 316
NET BOOK VALUE
At 31 December 2023 7,116 19,871 155
At 31 December 2022 8,626 20,638 194

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 85,200 4,875 205,511
Additions 17,259 - 20,859
Disposals - - (3,000 )
At 31 December 2023 102,459 4,875 223,370
DEPRECIATION
At 1 January 2023 68,630 4,474 159,082
Charge for year 6,477 80 12,473
Eliminated on disposal - - (3,000 )
At 31 December 2023 75,107 4,554 168,555
NET BOOK VALUE
At 31 December 2023 27,352 321 54,815
At 31 December 2022 16,570 401 46,429

DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 45,200
Transfer to ownership (45,200 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 30,389
Charge for year 2,962
Transfer to ownership (33,351 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 14,811

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 111,373 63,946
Other debtors 9,608 1,774
120,981 65,720

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 7,595
Trade creditors 9,364 19,784
Taxation and social security 75,327 63,824
Other creditors 25,536 5,970
120,227 107,173

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 15,000 25,000
Hire purchase contracts - 1,840
15,000 26,840

DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts - 9,435

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100