Company registration number 09324149 (England and Wales)
NIELSEN RACING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
NIELSEN RACING LTD
CONTENTS
Page
Statement of financial position
1 - 2
Statement of changes in equity
Notes to the financial statements
3 - 7
NIELSEN RACING LTD
STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
110,424
329,162
Current assets
Stocks
100,000
80,750
Debtors
5
1,068,486
340,639
Cash at bank and in hand
217,972
272,194
1,386,458
693,583
Creditors: amounts falling due within one year
6
(1,213,546)
(516,455)
Net current assets
172,912
177,128
Total assets less current liabilities
283,336
506,290
Creditors: amounts falling due after more than one year
7
(125,448)
(219,484)
Provisions for liabilities
(20,981)
(62,541)
Net assets
136,907
224,265
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
136,906
224,264
Total equity
136,907
224,265

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

NIELSEN RACING LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 24 June 2024
Mr D J Thompson
Director
Company registration number 09324149 (England and Wales)
NIELSEN RACING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

Nielsen Racing Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7 Omega Court, Centrix Business Park, Furnace Way, Corby, Northamptonshire, NN17 5BF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

The financial statements present information about the company as an individual entity and not about its group.

 

Nielsen Racing Ltd is a wholly owned subsidiary of Nielsen Racing Holdings Ltd.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

NIELSEN RACING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

 

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

NIELSEN RACING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 5 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).

2023
2022
Number
Number
Total
1
1
NIELSEN RACING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022
429,835
Disposals
(208,985)
At 30 November 2023
220,850
Depreciation and impairment
At 1 December 2022
100,673
Depreciation charged in the year
55,213
Eliminated in respect of disposals
(45,460)
At 30 November 2023
110,426
Carrying amount
At 30 November 2023
110,424
At 30 November 2022
329,162

Plant and machinery with a carrying amount of £110,424 (2022 £165,637) have been pledged to secure borrowings of the company. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
471,181
-
0
Amounts owed by group undertakings
316,272
140,577
Other debtors
281,033
200,062
1,068,486
340,639
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
230,614
62,953
Taxation and social security
39,484
79,582
Other creditors
943,448
373,920
1,213,546
516,455

Plant and Machinery with a carrying amount of £110,424 (2022 - £165,637) have been pledged to secure borrowings of the company. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

NIELSEN RACING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
125,448
219,484

Plant and machinery with a carrying amount of £110,424 (2022 - £165,637) have been pledged to secure borrowings of the company. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
36,000
36,000
10
Parent company
2023-11-302022-12-01false24 June 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr D J Thompsonfalsefalse2024-06-24093241492022-12-012023-11-30093241492023-11-30093241492022-11-3009324149core:OtherPropertyPlantEquipment2023-11-3009324149core:OtherPropertyPlantEquipment2022-11-3009324149core:CurrentFinancialInstrumentscore:WithinOneYear2023-11-3009324149core:CurrentFinancialInstrumentscore:WithinOneYear2022-11-3009324149core:Non-currentFinancialInstrumentscore:AfterOneYear2023-11-3009324149core:Non-currentFinancialInstrumentscore:AfterOneYear2022-11-3009324149core:CurrentFinancialInstruments2023-11-3009324149core:CurrentFinancialInstruments2022-11-3009324149core:ShareCapital2023-11-3009324149core:ShareCapital2022-11-3009324149core:RetainedEarningsAccumulatedLosses2023-11-3009324149core:RetainedEarningsAccumulatedLosses2022-11-3009324149bus:Director12022-12-012023-11-3009324149core:MotorVehicles2022-12-012023-11-30093241492021-12-012022-11-3009324149core:OtherPropertyPlantEquipment2022-11-3009324149core:OtherPropertyPlantEquipment2022-12-012023-11-3009324149core:WithinOneYear2023-11-3009324149core:WithinOneYear2022-11-3009324149core:Non-currentFinancialInstruments2023-11-3009324149core:Non-currentFinancialInstruments2022-11-3009324149bus:PrivateLimitedCompanyLtd2022-12-012023-11-3009324149bus:SmallCompaniesRegimeForAccounts2022-12-012023-11-3009324149bus:FRS1022022-12-012023-11-3009324149bus:AuditExemptWithAccountantsReport2022-12-012023-11-3009324149bus:FullAccounts2022-12-012023-11-30xbrli:purexbrli:sharesiso4217:GBP