IRIS Accounts Production v24.2.0.383 09779159 Board of Directors 1.4.23 31.3.24 31.3.24 0 0 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh097791592023-03-31097791592024-03-31097791592023-04-012024-03-31097791592022-03-31097791592022-04-012023-03-31097791592023-03-3109779159ns15:EnglandWales2023-04-012024-03-3109779159ns14:PoundSterling2023-04-012024-03-3109779159ns10:Director12023-04-012024-03-3109779159ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3109779159ns10:SmallEntities2023-04-012024-03-3109779159ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3109779159ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3109779159ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109779159ns10:FullAccounts2023-04-012024-03-310977915912023-04-012024-03-3109779159ns10:OrdinaryShareClass12023-04-012024-03-3109779159ns10:Director22023-04-012024-03-3109779159ns10:RegisteredOffice2023-04-012024-03-3109779159ns5:CurrentFinancialInstruments2024-03-3109779159ns5:CurrentFinancialInstruments2023-03-3109779159ns5:ShareCapital2024-03-3109779159ns5:ShareCapital2023-03-3109779159ns5:RetainedEarningsAccumulatedLosses2024-03-3109779159ns5:RetainedEarningsAccumulatedLosses2023-03-3109779159ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3109779159ns5:ComputerSoftware2023-04-012024-03-3109779159ns5:ComputerSoftware2023-03-3109779159ns5:ComputerSoftware2024-03-3109779159ns5:ComputerSoftware2023-03-3109779159ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 09779159 (England and Wales)















Surrey Racing Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Surrey Racing Limited (Registered number: 09779159)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Surrey Racing Limited

Company Information
for the year ended 31 March 2024







Directors: S V Grubb
J H Hadingham





Registered office: 10 Knowle Park
Cobham
Surrey
KT11 3AA





Registered number: 09779159 (England and Wales)






Surrey Racing Limited (Registered number: 09779159)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 14,208 16,576

Current assets
Debtors 5 224 -
Cash at bank 556 1,325
780 1,325
Creditors
Amounts falling due within one year 6 30,836 33,653
Net current liabilities (30,056 ) (32,328 )
Total assets less current liabilities (15,848 ) (15,752 )

Capital and reserves
Called up share capital 7 100 100
Retained earnings (15,948 ) (15,852 )
Shareholders' funds (15,848 ) (15,752 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





S V Grubb - Director


Surrey Racing Limited (Registered number: 09779159)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Surrey 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.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

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 represents amounts receivable for services provided in the year and is stated net of VAT.

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.

Website development is being amortised evenly over its estimated useful life of ten years.

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, trade and other payables, loans and borrowings. The company has chosen to apply the provisions of FRS102 Section 11 Basic Financial Instruments in full.

Financial assets and liabilities - classified as basic financial instruments

(i) Cash and cash equivalents
This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the company assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the income statement.

(iii) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method.


Surrey Racing Limited (Registered number: 09779159)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued
Taxation
Taxation for the year 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.

3. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

4. Intangible fixed assets
Website
development
£
Cost
At 1 April 2023
and 31 March 2024 23,680
Amortisation
At 1 April 2023 7,104
Amortisation for year 2,368
At 31 March 2024 9,472
Net book value
At 31 March 2024 14,208
At 31 March 2023 16,576

5. Debtors: amounts falling due within one year
2024 2023
£ £
VAT 224 -

6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors - 223
Tax 2,241 505
VAT - 566
Directors' loan accounts 24,595 28,559
Accrued expenses 4,000 3,800
30,836 33,653

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100