IRIS Accounts Production v24.2.0.383 13488718 Board of Directors 1.1.23 31.12.23 31.12.23 0 0 false true false false true false Ordinary 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh134887182022-12-31134887182023-12-31134887182023-01-012023-12-31134887182021-06-30134887182021-07-012022-12-31134887182022-12-3113488718ns15:EnglandWales2023-01-012023-12-3113488718ns14:PoundSterling2023-01-012023-12-3113488718ns10:Director12023-01-012023-12-3113488718ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3113488718ns10:SmallEntities2023-01-012023-12-3113488718ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3113488718ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3113488718ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3113488718ns10:FullAccounts2023-01-012023-12-3113488718ns10:OrdinaryShareClass12023-01-012023-12-3113488718ns10:Director22023-01-012023-12-3113488718ns10:Director42023-01-012023-12-3113488718ns10:Director52023-01-012023-12-3113488718ns10:Director62023-01-012023-12-3113488718ns10:Director72023-01-012023-12-3113488718ns10:RegisteredOffice2023-01-012023-12-3113488718ns5:CurrentFinancialInstruments2023-12-3113488718ns5:CurrentFinancialInstruments2022-12-3113488718ns5:ShareCapital2023-12-3113488718ns5:ShareCapital2022-12-3113488718ns5:SharePremium2023-12-3113488718ns5:SharePremium2022-12-3113488718ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-3113488718ns5:FurtherSpecificReserve1ComponentTotalEquity2022-12-3113488718ns5:RetainedEarningsAccumulatedLosses2023-12-3113488718ns5:RetainedEarningsAccumulatedLosses2022-12-3113488718ns5:ComputerEquipment2023-01-012023-12-3113488718ns5:PlantMachinery2022-12-3113488718ns5:PlantMachinery2023-01-012023-12-3113488718ns5:PlantMachinery2023-12-3113488718ns5:PlantMachinery2022-12-3113488718ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3113488718ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3113488718ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 13488718 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WORLD HORSE RACING LIMITED

WORLD HORSE RACING LIMITED (REGISTERED NUMBER: 13488718)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WORLD HORSE RACING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Ms F J Barnard
D M Board
J McDonald
S R Rosich
Ms H Sabri
R J Scott





REGISTERED OFFICE: Goodwood House
Goodwood
Chichester
West Sussex
PO18 0PX





REGISTERED NUMBER: 13488718 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY

WORLD HORSE RACING LIMITED (REGISTERED NUMBER: 13488718)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,057 1,578

CURRENT ASSETS
Debtors 5 352,765 373,961
Cash at bank 74,454 235,362
427,219 609,323
CREDITORS
Amounts falling due within one year 6 282,887 460,392
NET CURRENT ASSETS 144,332 148,931
TOTAL ASSETS LESS CURRENT
LIABILITIES

145,389

150,509

CAPITAL AND RESERVES
Called up share capital 7 100 100
Share premium 1,074,900 1,074,900
Members' capital contributions 750,000 -
Retained earnings (1,679,611 ) (924,491 )
SHAREHOLDERS' FUNDS 145,389 150,509

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 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 24 September 2024 and were signed on its behalf by:





D M Board - Director


WORLD HORSE RACING LIMITED (REGISTERED NUMBER: 13488718)

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


1. STATUTORY INFORMATION

World Horse Racing Limited is a private company, limited by shares, incorporated 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. 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.

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

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

Revenue represents the value of services provided and is comprised of monies from clients for creative branded content and social advertising. Revenue is recognised over the period of the sponsorship agreement or for social advertising when the advert airs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

WORLD HORSE RACING LIMITED (REGISTERED NUMBER: 13488718)

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


2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 1,578
DEPRECIATION
Charge for year 521
At 31 December 2023 521
NET BOOK VALUE
At 31 December 2023 1,057
At 31 December 2022 1,578

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 238,072 188,090
Other debtors 4,647 -
VAT 53,469 181,406
Prepayments and accrued income 56,577 4,465
352,765 373,961

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 209,649 331,305
Accrued expenses 73,238 129,087
282,887 460,392

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £0.01 100 100