Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-312024-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-11-01falseThe company's principal activity during the year continued to be the provision of motor sports related and other holiday arrangements.88falsetrue 07005663 2023-11-01 2024-10-31 07005663 2022-11-01 2023-10-31 07005663 2024-10-31 07005663 2023-10-31 07005663 2022-11-01 07005663 c:Director2 2023-11-01 2024-10-31 07005663 d:PlantMachinery 2023-11-01 2024-10-31 07005663 d:PlantMachinery 2024-10-31 07005663 d:PlantMachinery 2023-10-31 07005663 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 07005663 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-10-31 07005663 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-31 07005663 d:Goodwill 2023-11-01 2024-10-31 07005663 d:CurrentFinancialInstruments 2024-10-31 07005663 d:CurrentFinancialInstruments 2023-10-31 07005663 d:Non-currentFinancialInstruments 2024-10-31 07005663 d:Non-currentFinancialInstruments 2023-10-31 07005663 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 07005663 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 07005663 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 07005663 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 07005663 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-10-31 07005663 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 07005663 d:ShareCapital 2024-10-31 07005663 d:ShareCapital 2023-10-31 07005663 d:ShareCapital 2022-11-01 07005663 d:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 07005663 d:RetainedEarningsAccumulatedLosses 2024-10-31 07005663 d:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 07005663 d:RetainedEarningsAccumulatedLosses 2023-10-31 07005663 d:RetainedEarningsAccumulatedLosses 2022-11-01 07005663 c:OrdinaryShareClass1 2023-11-01 2024-10-31 07005663 c:OrdinaryShareClass1 2024-10-31 07005663 c:OrdinaryShareClass1 2023-10-31 07005663 c:FRS102 2023-11-01 2024-10-31 07005663 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 07005663 c:FullAccounts 2023-11-01 2024-10-31 07005663 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 07005663 d:Subsidiary1 2023-11-01 2024-10-31 07005663 d:Subsidiary1 1 2023-11-01 2024-10-31 07005663 d:WithinOneYear 2024-10-31 07005663 d:WithinOneYear 2023-10-31 07005663 d:BetweenOneFiveYears 2024-10-31 07005663 d:BetweenOneFiveYears 2023-10-31 07005663 c:Consolidated 2024-10-31 07005663 c:ConsolidatedGroupCompanyAccounts 2023-11-01 2024-10-31 07005663 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-11-01 2024-10-31 07005663 2 2023-11-01 2024-10-31 07005663 6 2023-11-01 2024-10-31 07005663 d:AcceleratedTaxDepreciationDeferredTax 2024-10-31 07005663 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 07005663 d:TaxLossesCarry-forwardsDeferredTax 2024-10-31 07005663 d:TaxLossesCarry-forwardsDeferredTax 2023-10-31 07005663 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-11-01 2024-10-31 07005663 e:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07005663









GRANDSTAND MOTOR SPORT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
GRANDSTAND MOTOR SPORT LIMITED
REGISTERED NUMBER: 07005663

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 6 
18,216
33,165

Tangible assets
 7 
2,831
2,697

  
21,047
35,862

Current assets
  

Debtors: amounts falling due within one year
 9 
663,776
571,022

Current asset investments
 10 
12,995
12,995

Cash at bank and in hand
 11 
612,894
584,577

  
1,289,665
1,168,594

Creditors: amounts falling due within one year
 12 
(995,395)
(926,163)

Net current assets
  
 
 
294,270
 
 
242,431

Total assets less current liabilities
  
315,317
278,293

Creditors: amounts falling due after more than one year
 13 
(136,668)
(145,001)

Provisions for liabilities
  

Deferred taxation
 15 
(5,262)
-

  
 
 
(5,262)
 
 
-

Net assets
  
173,387
133,292


Capital and reserves
  

Called up share capital 
 16 
100,000
100,000

Profit and loss account
 17 
73,387
33,292

  
173,387
133,292


Page 1

 
GRANDSTAND MOTOR SPORT LIMITED
REGISTERED NUMBER: 07005663
    
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 January 2025.




L A T Jordan
Director

The notes on pages 9 to 24 form part of these financial statements.

Page 2

 
GRANDSTAND MOTOR SPORT LIMITED
REGISTERED NUMBER: 07005663

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 6 
18,216
33,165

Tangible assets
 7 
2,831
2,697

Investments
 8 
2,000
2,000

  
23,047
37,862

Current assets
  

Debtors: amounts falling due within one year
 9 
680,678
586,269

Current asset investments
 10 
12,995
12,995

Cash at bank and in hand
 11 
593,992
567,330

  
1,287,665
1,166,594

Creditors: amounts falling due within one year
 12 
(995,395)
(926,163)

Net current assets
  
 
 
292,270
 
 
240,431

Total assets less current liabilities
  
315,317
278,293

  

Creditors: amounts falling due after more than one year
 13 
(136,668)
(145,001)

Provisions for liabilities
  

Deferred taxation
 15 
(5,262)
-

  
 
 
(5,262)
 
 
-

Net assets
  
173,387
133,292


Capital and reserves
  

Called up share capital 
 16 
100,000
100,000

Profit and loss account carried forward
  
73,387
33,292

  
173,387
133,292


Page 3

 
GRANDSTAND MOTOR SPORT LIMITED
REGISTERED NUMBER: 07005663
    
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 January 2025.


L A T Jordan
Director

The notes on pages 9 to 24 form part of these financial statements.

Page 4

 
GRANDSTAND MOTOR SPORT LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 November 2022
100,000
33,205
133,205


Comprehensive income for the year

Profit for the year
-
87
87



At 1 November 2023
100,000
33,292
133,292


Comprehensive income for the year

Profit for the year
-
40,095
40,095


At 31 October 2024
100,000
73,387
173,387


The notes on pages 9 to 24 form part of these financial statements.

Page 5

 
GRANDSTAND MOTOR SPORT LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 November 2022
100,000
33,205
133,205


Comprehensive income for the year

Profit for the year
-
87
87



At 1 November 2023
100,000
33,292
133,292


Comprehensive income for the year

Profit for the year
-
40,095
40,095


At 31 October 2024
100,000
73,387
173,387


The notes on pages 9 to 24 form part of these financial statements.

Page 6

 
GRANDSTAND MOTOR SPORT LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
40,095
87

Adjustments for:

Amortisation of intangible assets
15,550
17,757

Depreciation of tangible assets
1,699
880

Interest paid
8,945
10,604

Interest received
(6,949)
(2,447)

Taxation charge
12,389
1,392

(Increase)/decrease in debtors
(99,805)
152,048

Increase/(decrease) in creditors
110,821
(181,335)

Net cash generated from operating activities

82,745
(1,014)


Cash flows from investing activities

Purchase of intangible fixed assets
(600)
(21,800)

Purchase of tangible fixed assets
(1,832)
(1,691)

Interest received
6,949
2,447

Net cash from investing activities

4,517
(21,044)
Page 7

 
GRANDSTAND MOTOR SPORT LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024


2024
2023

£
£



Cash flows from financing activities

Repayment of loans
(50,000)
(50,000)

Interest paid
(8,945)
(10,604)

Net cash used in financing activities
(58,945)
(60,604)

Net increase/(decrease) in cash and cash equivalents
28,317
(82,662)

Cash and cash equivalents at beginning of year
584,577
667,239

Cash and cash equivalents at the end of year
612,894
584,577


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
612,894
584,577

612,894
584,577


The notes on pages 9 to 24 form part of these financial statements.

Page 8

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Grandstand Motor Sport Limited is a company domiciled in England and Wales, registration number 07005663. The registered office is 2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond TW9 2JA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income Statement in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Income Statement from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Going concern

The directors have prepared budgets and cashflow forecasts which reflect good operational liquidity and profitability throughout. Group management and the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future, being at least the following 12 months from the signing of these financial statements. 
As a result, the directors believe that it is still appropriate to apply the going concern basis for the foreseeable future.

Page 9

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.5

Revenue

Turnover represents the total value of travel, holiday and holiday accommodation arrangements provided by the group, recognised on a departure date basis, net of value added tax and discounts.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 10

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 11

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.14

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Income Statement over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:


 
2.15

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Plant and machinery
-
3
years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.16

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 12

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the group's accounting policies, the directors are required to make judgments,estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised in the period in which the estimates are revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.


4.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Sales and administration
8
8
8
8

8
8
8
8


5.


Parent company profit for the year

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income Statement in these financial statements. The profit after tax of the parent Company for the year was £40,095 (2023 - £87).

Page 13

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Intangible assets

Group





Development expenditure

£



Cost


At 1 November 2023
54,350


Additions
600



At 31 October 2024

54,950



Amortisation


At 1 November 2023
21,185


Charge for the year on owned assets
15,549



At 31 October 2024

36,734



Net book value



At 31 October 2024
18,216



At 31 October 2023
33,165



Page 14

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
 
           6.Intangible assets (continued)

Company




Development expenditure

£



Cost


At 1 November 2023
54,350


Additions
600



At 31 October 2024

54,950



Amortisation


At 1 November 2023
21,185


Charge for the year
15,549



At 31 October 2024

36,734



Net book value



At 31 October 2024
18,216



At 31 October 2023
33,165

Page 15

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.


Tangible fixed assets

Group






Plant and machinery

£



Cost or valuation


At 1 November 2023
22,171


Additions
1,832



At 31 October 2024

24,003



Depreciation


At 1 November 2023
19,474


Charge for the year on owned assets
1,698



At 31 October 2024

21,172



Net book value



At 31 October 2024
2,831



At 31 October 2023
2,697

Page 16

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

           7.Tangible fixed assets (continued)


Company






Plant and machinery

£

Cost or valuation


At 1 November 2023
22,171


Additions
1,832



At 31 October 2024

24,003



Depreciation


At 1 November 2023
19,474


Charge for the year on owned assets
1,698



At 31 October 2024

21,172



Net book value



At 31 October 2024
2,831



At 31 October 2023
2,697






Page 17

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2023
2,000



At 31 October 2024
2,000





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Grandstand Motor Sport Transport Limited
2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond TW9 2JA
Ordinary
100%

The aggregate of the share capital and reserves as at 31 October 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:

Name
Aggregate of share capital and reserves

Grandstand Motor Sport Transport Limited
2,000

Page 18

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
601,412
519,730
601,412
519,730

Amounts owed by group undertakings
-
-
18,086
16,437

Other debtors
51,057
36,604
49,873
35,414

Prepayments and accrued income
11,307
9,894
11,307
9,894

Deferred taxation
-
4,794
-
4,794

663,776
571,022
680,678
586,269



10.


Current asset investments

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Unlisted investments
12,995
12,995
12,995
12,995

12,995
12,995
12,995
12,995



11.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
612,894
584,577
593,992
567,330

612,894
584,577
593,992
567,330


Page 19

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

12.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
50,000
91,667
50,000
91,667

Trade creditors
201,100
241,579
201,100
241,579

Corporation tax
2,333
-
2,333
-

Other taxation and social security
7,216
7,575
7,216
7,575

Other creditors
8,804
10,791
8,804
10,791

Accruals and deferred income
725,942
574,551
725,942
574,551

995,395
926,163
995,395
926,163


Included in accruals and deferred income is the sum of £720,820 (2023: £568,567) of customer monies received in advance for departures post 31 October 2024.


13.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
41,667
50,000
41,667
50,000

Other loans
95,001
95,001
95,001
95,001

136,668
145,001
136,668
145,001


The Coronavirus business interruption loan is provided by Barclays Bank UK Plc and is supported by the Coronavirus Business Interruption Loan Scheme. The loan is for a 72 month term with no capital repayments or interest payments in the the first 12 months. Interest is payable at 2.99% per annum over the bank base rate thereafter.
Other loans consist of shareholders' loans. These loans are subject to a subordinated undertaking in favour of the Civil Aviation Authority ("CAA") and cannot be repaid without the CAA's written permission.

Page 20

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

14.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Amounts falling due within one year

Bank loans
50,000
91,667
50,000
91,667


50,000
91,667
50,000
91,667

Amounts falling due 1-2 years

Bank loans
41,667
50,000
41,667
50,000

Other loans
95,001
95,001
95,001
95,001


136,668
145,001
136,668
145,001



186,668
236,668
186,668
236,668


Page 21

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

15.


Deferred taxation


Group



2024
2023


£

£






At beginning of year
4,794
6,186


Charged to profit or loss
(10,056)
(1,392)



At end of year
(5,262)
4,794

Company


2024
2023


£

£






At beginning of year
4,794
6,186


Charged to profit or loss
(10,056)
(1,392)



At end of year
(5,262)
4,794

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Accelerated capital allowances
(5,262)
(8,965)
(5,262)
(8,965)

Tax losses carried forward
-
13,759
-
13,759

(5,262)
4,794
(5,262)
4,794


16.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100,000 (2023 - 100,000) Ordinary shares of £1.00 each
100,000
100,000


Page 22

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

17.


Reserves

Profit and loss account

The profit and loss account represents the net distributable reserves of the Company at the date of the statement of financial position.


18.


Credit card receipts proceeds

The business has an arrangement with its merchant providers that 10% of all receipts will be withheld for 120 days from the date of receipt. These will be released to the business after expiry of 120 days. As at 31
October 2024 total receipts withheld under this arranagement were £38,775 (2023: £24,317). These are included in debtors due within 1 year.


19.


Contingent liabilities

At 31 October 2024, there were contingent liabilities outstanding in respect of counter indemnities given by the group, in the normal course of business, to the company's bond insurance obligors in respect of ABTOT travel bonds amounting to £185,000.


20.


Pension commitments

The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group  in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £4,265 (2023: £3,979). Contributions totalling £971 (2023: £958) were payable to the fund at the reporting date and are included in creditors.


21.


Commitments under operating leases

At 31 October 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Not later than 1 year
20,000
20,000
20,000
20,000

Later than 1 year and not later than 5 years
58,333
78,333
58,333
78,333

78,333
98,333
78,333
98,333


22.


Controlling party

There is no one controlling party.

Page 23

 
GRANDSTAND MOTOR SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

23.


Other charges

The Company has registered against it a fixed charge dated 21 July 2020 in favour of Barclays Security Trustee Limited to secure the Coronavirus Business Interruption Loan outlined in note 13. The loan is repayable in equal monthly instalments. 
The fixed charge will be released upon full repayment of the loan.

 
Page 24