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REGISTERED NUMBER: 00061171 (England and Wales)













Financial Statements

for the Year Ended 31 March 2024

for

Ripon Race Company Limited (The)

Ripon Race Company Limited (The) (Registered number: 00061171)






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


Ripon Race Company Limited (The)

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C N Clark
A M Hutchinson
J M Hutchinson
A T S Wells
N R Armstrong
C L Wallis



SECRETARY: A M Hutchinson



REGISTERED OFFICE: 77 North Street
Ripon
North Yorkshire
HG4 1DS



REGISTERED NUMBER: 00061171 (England and Wales)



SENIOR STATUTORY AUDITOR: Phillipa Symington ACA CA(SA)



AUDITORS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
Oak Tree House, Harwood Road
Northminster Business Park
Upper Poppleton
York
YO26 6QU

Ripon Race Company Limited (The) (Registered number: 00061171)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,852,042 2,344,770
Investments 5 1,754 1,754
2,853,796 2,346,524

CURRENT ASSETS
Debtors 6 273,073 257,307
Cash at bank and in hand 893,569 1,500,407
1,166,642 1,757,714
CREDITORS
Amounts falling due within one year 7 421,727 482,666
NET CURRENT ASSETS 744,915 1,275,048
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,598,711

3,621,572

CREDITORS
Amounts falling due after more than one year 8 (270,000 ) (270,000 )

PROVISIONS FOR LIABILITIES 10 (54,961 ) (55,192 )

ACCRUALS AND DEFERRED INCOME 11 (771,317 ) (787,058 )
NET ASSETS 2,502,433 2,509,322

CAPITAL AND RESERVES
Called up share capital 12 49,928 49,928
Retained earnings 2,452,505 2,459,394
SHAREHOLDERS' FUNDS 2,502,433 2,509,322

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 Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:



J M Hutchinson - Director


Ripon Race Company Limited (The) (Registered number: 00061171)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ripon Race Company Limited (The) 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
All transactions entered into with companies under common control were concluded under normal market conditions, therefore no further disclosure is necessary in accordance with FRS102 Section 1A.

Turnover
Turnover represents the net value of goods and services sold during the period, excluding value added tax.

Income recognition
Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the service have been transferred to the customer. Income invoiced, or received, in respect of the forthcoming racing season is included in deferred income.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, other than freehold land, over their expected useful lives, using the straight-line method. The rates applicable are:

Freehold property- 2% on cost
Plant and machinery- 20% on reducing balance
Fixtures and fittings- 20% on reducing balance
Motor vehicles- 25% on reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in the Profit and Loss Account.

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.


Ripon Race Company Limited (The) (Registered number: 00061171)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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.

Horseracing betting levy board and other grants
Revenue grants are written off against the relevant expenses. Capital grants are shown as provisions for liabilities and charges. Capital grants are released over the life of the relevant asset purchased.

Investments
Investments held as fixed assets are stated at cost less provision for any impairment in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2023 - 61 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 3,389,475 923,706 484,014 45,450 4,842,645
Additions 580,395 9,440 31,057 - 620,892
At 31 March 2024 3,969,870 933,146 515,071 45,450 5,463,537
DEPRECIATION
At 1 April 2023 1,231,010 830,139 404,158 32,568 2,497,875
Charge for year 71,491 19,712 19,197 3,220 113,620
At 31 March 2024 1,302,501 849,851 423,355 35,788 2,611,495
NET BOOK VALUE
At 31 March 2024 2,667,369 83,295 91,716 9,662 2,852,042
At 31 March 2023 2,158,465 93,567 79,856 12,882 2,344,770

Ripon Race Company Limited (The) (Registered number: 00061171)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 1,754
NET BOOK VALUE
At 31 March 2024 1,754
At 31 March 2023 1,754

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 48,390 41,669
Other debtors 95,125 43,978
Prepayments and accrued income 129,558 171,660
273,073 257,307

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 54,380 57,766
Taxation and social security 55,561 142,218
Other creditors 75,496 49,656
Accruals and deferred income 236,290 233,026
421,727 482,666

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans 270,000 270,000

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 750 3,000
Between one and five years - 750
750 3,750

Ripon Race Company Limited (The) (Registered number: 00061171)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 54,961 55,192

Deferred
tax
£   
Balance at 1 April 2023 55,192
Utilised during year (231 )
Balance at 31 March 2024 54,961

11. ACCRUALS AND DEFERRED INCOME

2024 2023
£ £
Capital grant 771,317 787,058
771,317 787,058

Capital grant
2024 2023
£ £
Balance as at 1 April 2023 787.058 825,734
Grants released during year (15,741 ) (18,528 )
Balance at 31 March 2024 771,317 787,058

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
49,928 Ordinary £1 49,928 49,928

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Phillipa Symington ACA CA(SA) (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP

14. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 152,634 -