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REGISTERED NUMBER: 05499860 (England and Wales)













FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2023 TO 31 OCTOBER 2023

FOR

RED AND BLACK RACING LIMITED

RED AND BLACK RACING LIMITED (REGISTERED NUMBER: 05499860)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RED AND BLACK RACING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2023 TO 31 OCTOBER 2023







DIRECTORS: N R Thompson
Mrs E Thompson





SECRETARY: Mrs E Thompson





REGISTERED OFFICE: Breedon Brand Farm
Breedon Lane
Osgathorpe
Leicestershire
LE12 9ST





REGISTERED NUMBER: 05499860 (England and Wales)





ACCOUNTANTS: Philip Barnes & Co Limited
Chartered Accountants
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

RED AND BLACK RACING LIMITED (REGISTERED NUMBER: 05499860)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,002 10,802

CURRENT ASSETS
Stocks 43,548 43,548
Debtors 5 6,250 4,196
Cash at bank 485 577
50,283 48,321
CREDITORS
Amounts falling due within one year 6 68,404 76,966
NET CURRENT LIABILITIES (18,121 ) (28,645 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,119

)

(17,843

)

CREDITORS
Amounts falling due after more than one
year

7

2,687

5,942
NET LIABILITIES (11,806 ) (23,785 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (11,906 ) (23,885 )
SHAREHOLDERS' FUNDS (11,806 ) (23,785 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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.

RED AND BLACK RACING LIMITED (REGISTERED NUMBER: 05499860)

BALANCE SHEET - continued
31 OCTOBER 2023


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





N R Thompson - Director


RED AND BLACK RACING LIMITED (REGISTERED NUMBER: 05499860)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 31 OCTOBER 2023

1. STATUTORY INFORMATION

Red and Black 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.

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 significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% reducing balance
Fixtures and fittings - 15% reducing balance
Computer equipment - 33% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 period 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.

RED AND BLACK RACING LIMITED (REGISTERED NUMBER: 05499860)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES

The average number of employees during the period was 1 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 October 2023 700 14,990 7,250 423 23,363
DEPRECIATION
At 1 January 2023 666 9,615 1,857 423 12,561
Charge for period 6 671 1,123 - 1,800
At 31 October 2023 672 10,286 2,980 423 14,361
NET BOOK VALUE
At 31 October 2023 28 4,704 4,270 - 9,002
At 31 December 2022 34 5,375 5,393 - 10,802

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
DEPRECIATION
At 1 January 2023 1,857
Charge for period 1,123
At 31 October 2023 2,980
NET BOOK VALUE
At 31 October 2023 (2,980 )
At 31 December 2022 (1,857 )

RED AND BLACK RACING LIMITED (REGISTERED NUMBER: 05499860)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 OCTOBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 6,250 4,196

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 1,000 1,000
Hire purchase contracts 2,879 2,610
Trade creditors 1,080 2,032
VAT 1,183 3,840
Intercompany Loan 38,195 46,995
Directors' current accounts 22,551 19,141
Accrued expenses 1,516 1,348
68,404 76,966

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 1,000 1,000
Other loans - 2-5 years 1,176 2,009
Hire purchase contracts 511 2,933
2,687 5,942

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

Transactions with other related parties:
20232022
££

Amounts due to related parties 38,19546,995
Sales made to related parties 20,83325,000
Purchases made from related parties 2,1002,400

Transactions with key management personnel:
20232022
££

Amounts due to related parties22,55119,141