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REGISTERED NUMBER: 03469325 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

B.K. RACING LIMITED

B.K. RACING LIMITED (REGISTERED NUMBER: 03469325)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


B.K. RACING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs E J Harding
Mr W Kitchen
Mrs C M Kitchen



REGISTERED OFFICE: Deedtrade House
Grace Road
Marsh Barton Trading Estate
Exeter
Devon
EX2 8QA



REGISTERED NUMBER: 03469325 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Lloyds Bank Plc
234 High Street
Exeter
EX4 3NL

B.K. RACING LIMITED (REGISTERED NUMBER: 03469325)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 324,548 301,185
324,548 301,185

CURRENT ASSETS
Stocks 6 492,212 75,609
Debtors 7 117,596 470,501
Cash at bank 97,166 363,958
706,974 910,068
CREDITORS
Amounts falling due within one year 8 171,691 337,014
NET CURRENT ASSETS 535,283 573,054
TOTAL ASSETS LESS CURRENT LIABILITIES 859,831 874,239

CREDITORS
Amounts falling due after more than one
year

9

-

72,611
NET ASSETS 859,831 801,628

CAPITAL AND RESERVES
Called up share capital 300,000 300,000
Retained earnings 559,831 501,628
SHAREHOLDERS' FUNDS 859,831 801,628

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

B.K. RACING LIMITED (REGISTERED NUMBER: 03469325)

BALANCE SHEET - continued
31 MARCH 2024


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 12 November 2024 and were signed on its behalf by:




Mrs E J Harding - Director



Mr W Kitchen - Director


B.K. RACING LIMITED (REGISTERED NUMBER: 03469325)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

B.K. 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 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.

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.

B.K. RACING LIMITED (REGISTERED NUMBER: 03469325)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 75,000
AMORTISATION
At 1 April 2023
and 31 March 2024 75,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 344,292 144,210 46,463 64,493 599,458
Additions - 2,592 49,025 83 51,700
Disposals - - (2,800 ) - (2,800 )
At 31 March 2024 344,292 146,802 92,688 64,576 648,358
DEPRECIATION
At 1 April 2023 92,800 119,715 28,051 57,707 298,273
Charge for year 3,832 4,063 16,576 2,734 27,205
Eliminated on disposal - - (1,668 ) - (1,668 )
At 31 March 2024 96,632 123,778 42,959 60,441 323,810
NET BOOK VALUE
At 31 March 2024 247,660 23,024 49,729 4,135 324,548
At 31 March 2023 251,492 24,495 18,412 6,786 301,185

6. STOCKS
2024 2023
£    £   
Stocks 492,212 75,609

B.K. RACING LIMITED (REGISTERED NUMBER: 03469325)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 37,371 251,653
Other debtors 55,821 127,710
Directors' current accounts 18,113 91,138
VAT 6,291 -
117,596 470,501

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 113,222 256,394
Tax 23,173 59,350
VAT - 15,259
Other creditors 21,281 3,736
Directors' current accounts 11,824 -
Accrued expenses 2,191 2,275
171,691 337,014

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years - 72,611

10. OTHER FINANCIAL COMMITMENTS

At 31 March 2024, the company had total commitments under non-cancellable operating leases over the remaining life of the leases of £27,615.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr W Kitchen
Balance outstanding at start of year 91,138 -
Amounts advanced 249,575 91,138
Amounts repaid (352,538 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,825 ) 91,138

Mrs E J Harding
Balance outstanding at start of year - -
Amounts advanced 18,425 -
Amounts repaid (312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,113 -

B.K. RACING LIMITED (REGISTERED NUMBER: 03469325)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Interest on loans are charged at 2%.