IRIS Accounts Production v24.3.2.46 14718771 Board of Directors Board of Directors Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh147187712023-03-31147187712024-03-31147187712023-04-012024-03-31147187712023-03-3114718771ns15:EnglandWales2023-04-012024-03-3114718771ns14:PoundSterling2023-04-012024-03-3114718771ns10:Director12023-04-012024-03-3114718771ns10:Director22023-04-012024-03-3114718771ns10:Director32023-04-012024-03-3114718771ns10:Director42023-04-012024-03-3114718771ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3114718771ns10:SmallEntities2023-04-012024-03-3114718771ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3114718771ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3114718771ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3114718771ns10:FullAccounts2023-04-012024-03-3114718771ns10:RegisteredOffice2023-04-012024-03-3114718771ns5:CurrentFinancialInstruments2024-03-3114718771ns5:ShareCapital2024-03-3114718771ns5:RetainedEarningsAccumulatedLosses2024-03-3114718771ns5:LandBuildings2023-04-012024-03-3114718771ns5:PlantMachinery2023-04-012024-03-3114718771ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3114718771ns5:LandBuildings2024-03-3114718771ns5:ShortLeaseholdAssetsns5:LandBuildings2024-03-3114718771ns5:PlantMachinery2024-03-3114718771ns5:FurnitureFittings2023-04-012024-03-3114718771ns5:MotorVehicles2023-04-012024-03-3114718771ns5:FurnitureFittings2024-03-3114718771ns5:MotorVehicles2024-03-3114718771ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31147187711ns10:Director12023-03-31147187711ns10:Director12023-04-012024-03-31147187711ns10:Director12024-03-3114718771ns10:Director222023-03-3114718771ns10:Director222023-04-012024-03-3114718771ns10:Director222024-03-3114718771ns10:Director332023-03-3114718771ns10:Director332023-04-012024-03-3114718771ns10:Director332024-03-3114718771ns10:Director442023-03-3114718771ns10:Director442023-04-012024-03-3114718771ns10:Director442024-03-31
REGISTERED NUMBER: 14718771 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MARK WALFORD RACING LIMITED

MARK WALFORD RACING LIMITED (REGISTERED NUMBER: 14718771)

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


MARK WALFORD RACING LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2024







DIRECTORS: Mr M T Walford
Mrs M C Walford
Mr T D Walford
Mrs G B Walford





REGISTERED OFFICE: Cornborough Manor
Sheriff Hutton
York
North Yorkshire
YO60 6QN





REGISTERED NUMBER: 14718771 (England and Wales)





ACCOUNTANTS: Fortus Limited
Business Advisors & Accountants
Equinox House
Clifton Park, Shipton Road
York
Yorkshire
YO30 5PA

MARK WALFORD RACING LIMITED (REGISTERED NUMBER: 14718771)

BALANCE SHEET
31 March 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 256,249

CURRENT ASSETS
Debtors 5 114,396
Cash at bank 83,067
197,463
CREDITORS
Amounts falling due within one year 6 388,958
NET CURRENT LIABILITIES (191,495 )
TOTAL ASSETS LESS CURRENT LIABILITIES 64,754

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 64,654
64,754

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.

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 7 January 2025 and were signed on its behalf by:




Mr M T Walford - Director Mrs M C Walford - Director




Mr T D Walford - Director Mrs G B Walford - Director


MARK WALFORD RACING LIMITED (REGISTERED NUMBER: 14718771)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024


1. STATUTORY INFORMATION

Mark Walford 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on reducing balance and 2% on cost
Plant and machinery etc - 25% on reducing balance

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.

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.

MARK WALFORD RACING LIMITED (REGISTERED NUMBER: 14718771)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property Gallop machinery
£    £    £   
COST
Additions 105,706 31,535 21,311
Disposals - - -
At 31 March 2024 105,706 31,535 21,311
DEPRECIATION
Charge for year 2,114 6,307 5,325
At 31 March 2024 2,114 6,307 5,325
NET BOOK VALUE
At 31 March 2024 103,592 25,228 15,986

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
Additions 92,965 81,019 332,536
Disposals (1,605 ) (23,789 ) (25,394 )
At 31 March 2024 91,360 57,230 307,142
DEPRECIATION
Charge for year 22,840 14,307 50,893
At 31 March 2024 22,840 14,307 50,893
NET BOOK VALUE
At 31 March 2024 68,520 42,923 256,249

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 111,700
Other debtors 2,696
114,396

MARK WALFORD RACING LIMITED (REGISTERED NUMBER: 14718771)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 26,055
Taxation and social security 83,611
Other creditors 279,292
388,958

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

£   
Mr M T Walford
Balance outstanding at start of year -
Amounts advanced 92,607
Amounts repaid (146,263 )
Amounts written off -
Amounts waived -
Balance outstanding at end of year (53,656 )

Mrs M C Walford
Balance outstanding at start of year -
Amounts advanced 48,945
Amounts repaid (77,822 )
Amounts written off -
Amounts waived -
Balance outstanding at end of year (28,877 )

Mr T D Walford
Balance outstanding at start of year -
Amounts advanced 113,885
Amounts repaid (201,659 )
Amounts written off -
Amounts waived -
Balance outstanding at end of year (87,774 )

Mrs G B Walford
Balance outstanding at start of year -
Amounts advanced 144,284
Amounts repaid (247,878 )
Amounts written off -
Amounts waived -
Balance outstanding at end of year (103,594 )