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Registered number: 07140476
JOTA RACING (SVJ) LIMITED
Unaudited Financial Statements
For the Period 1 January 2024 to 31 July 2024
Citiplus Limited
Chartered Accountant & Business Advisors
1-3 Burleigh Parade
Burleigh Gardens
London
Southgate
N14 5AD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07140476
31 July 2024 31 December 2023
Notes
FIXED ASSETS
CURRENT ASSETS
Debtors 4 25,942 5,109,394
Cash at bank and in hand 18,549 20,867
44,491 5,130,261
Creditors: Amounts Falling Due Within One Year 5 (44,375 ) (1,765,094 )
NET CURRENT ASSETS (LIABILITIES) 116 3,365,167
TOTAL ASSETS LESS CURRENT LIABILITIES 116 3,365,167
NET ASSETS 116 3,365,167
CAPITAL AND RESERVES
Called up share capital 6 116 116
Profit and Loss Account - 3,365,051
SHAREHOLDERS' FUNDS 116 3,365,167
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Page 2
For the period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Emilio Martinenghi
Director
24/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
JOTA RACING (SVJ) LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07140476 . The registered office is 1-3 Burleigh Parade , Burleigh Gardens, London, Southgate , N14 5AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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 Euros, 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. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
The financial statements have been prepared on the break up basis as the company has ceased to carry out any business and the director intends to liquidate the company.
2.3. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
...CONTINUED
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2.3. Financial Instruments - continued
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into Euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Euro at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1 (2023: 1)
1 1
4. Debtors
31 July 2024 31 December 2023
Due within one year
Amounts owed by group undertakings 25,942 5,109,394
5. Creditors: Amounts Falling Due Within One Year
31 July 2024 31 December 2023
Corporation tax 30,654 16,948
Other creditors 13,721 2,826
Amounts owed to group undertakings - 1,445,347
Amounts owed to related parties - 299,973
44,375 1,765,094
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6. Share Capital
31 July 2024 31 December 2023
Allotted, Called up and fully paid 116 116
7. Post Balance Sheet Events
There are no events after the balance sheet date that require disclosure or adjustments to the financial statements.
8. Ultimate Parent Undertaking and Controlling Party
The company's parent undertaking is Doryan Holding Ltd, incorporated in Malta. The ultimate controlling party is Andrea Invernizzi who owns 100% of the shares of the parent company.
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