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REGISTERED NUMBER: 10473989 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

APEX RACING UK LTD

APEX RACING UK LTD (REGISTERED NUMBER: 10473989)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


APEX RACING UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: A C Simpson
L Thompson





REGISTERED OFFICE: 35 Medlicott Close
Corby
Northamptonshire
NN18 9NF





REGISTERED NUMBER: 10473989 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

APEX RACING UK LTD (REGISTERED NUMBER: 10473989)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 140,337 146,701

CURRENT ASSETS
Debtors 6 18,812 16,298
Cash at bank 17,545 15,644
36,357 31,942
CREDITORS
Amounts falling due within one year 7 86,711 173,147
NET CURRENT LIABILITIES (50,354 ) (141,205 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,983

5,496

CAPITAL AND RESERVES
Called up share capital 8 5,000 3,000
Share premium 638 638
Retained earnings 84,345 1,858
SHAREHOLDERS' FUNDS 89,983 5,496

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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 30 August 2024 and were signed on its behalf by:





A C Simpson - Director


APEX RACING UK LTD (REGISTERED NUMBER: 10473989)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Apex Racing UK Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

After making enquires, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - straight line over 10 years
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

APEX RACING UK LTD (REGISTERED NUMBER: 10473989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
Cost
At 1 December 2022 112,610 35,420 34,276 182,306
Additions 1,215 8,284 20,548 30,047
At 30 November 2023 113,825 43,704 54,824 212,353
Depreciation
At 1 December 2022 11,259 8,224 16,122 35,605
Charge for year 11,321 13,405 11,685 36,411
At 30 November 2023 22,580 21,629 27,807 72,016
Net book value
At 30 November 2023 91,245 22,075 27,017 140,337
At 30 November 2022 101,351 27,196 18,154 146,701

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,459 4,325
Other debtors 2,000 -
Corporation tax - 3,387
Prepayments and accrued income 7,353 8,586
18,812 16,298

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 10,525 7,945
Corporation tax 8 -
Social security and other taxes 2,432 10,076
VAT 20,281 3,237
Other creditors 50,304 150,039
Director's loan account 1,100 1,100
Credit card 1,261 -
Accruals and deferred income 800 750
86,711 173,147

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal Value: 2023 2022

1,000 A Ordinary £1 1,000 1,000
1,000 B Ordinary £1 1,000 -
1,000 C Ordinary £1 1,000 1,000
1,000 D Ordinary £1 1,000 -
1,000 E Ordinary £1 1,000 1,000
5,000 3,000
On 14th March 2023, the company issued 1,000 Ordinary B shares of £1 each and 1,000 Ordinary D shares of £1 each at par respectively . The Ordinary B, Ordinary C, Ordinary D and Ordinary E shares do not hold voting rights. All remaining Ordinary A shares in issue hold full voting rights and rank pari-passu in all respects.

APEX RACING UK LTD (REGISTERED NUMBER: 10473989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. RELATED PARTY DISCLOSURES

Control and ultimate control of the company rests with A Simpson, director.

Included within creditors is an amount of £1,101 (2022: £1,101) due to A Simpson, director. No interest has been charged on this balance during the year (2022: £Nil) and there are no set repayment terms.