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REGISTERED NUMBER: 01867983 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

NEWRACE LIMITED

NEWRACE LIMITED (REGISTERED NUMBER: 01867983)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEWRACE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr RAS Wood
Mr P J Barrett





SECRETARY: Mr RAS Wood





REGISTERED OFFICE: 21/27 Ock Street
Abingdon
Oxfordshire
OX14 5AJ





BUSINESS ADDRESS: 1 Church Lane
Drayton
Abingdon
Oxfordshire
OX14 4JS





REGISTERED NUMBER: 01867983 (England and Wales)





ACCOUNTANTS: Bronsens
Chartered Certified Accountants
Eden House
Two Rivers Business Park
Witney
Oxfordshire
OX28 4BL

NEWRACE LIMITED (REGISTERED NUMBER: 01867983)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 595 1,180

CURRENT ASSETS
Debtors 5 231,407 237,807
Cash at bank 487 264
231,894 238,071
CREDITORS
Amounts falling due within one year 6 6,671 10,139
NET CURRENT ASSETS 225,223 227,932
TOTAL ASSETS LESS CURRENT
LIABILITIES

225,818

229,112

PROVISIONS FOR LIABILITIES 7 - 224
NET ASSETS 225,818 228,888

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 225,816 228,886
SHAREHOLDERS' FUNDS 225,818 228,888

NEWRACE LIMITED (REGISTERED NUMBER: 01867983)

BALANCE SHEET - continued
30 APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2025 and were signed on its behalf by:





Mr RAS Wood - Director


NEWRACE LIMITED (REGISTERED NUMBER: 01867983)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Newrace 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year 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 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.

3. EMPLOYEES AND DIRECTORS

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

NEWRACE LIMITED (REGISTERED NUMBER: 01867983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 May 2023 5,437
Disposals (3,099 )
At 30 April 2024 2,338
DEPRECIATION
At 1 May 2023 4,257
Charge for year 199
Eliminated on disposal (2,713 )
At 30 April 2024 1,743
NET BOOK VALUE
At 30 April 2024 595
At 30 April 2023 1,180

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 231,407 237,807

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Directors' current accounts 6,253 9,240
Accruals and deferred income 418 899
6,671 10,139

7. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax
Accelerated capital allowances - 224

Deferred
tax
£   
Balance at 1 May 2023 224
Provided during year (224 )
Balance at 30 April 2024 -

NEWRACE LIMITED (REGISTERED NUMBER: 01867983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
2 Ordinary £1 2 2

9. RELATED PARTY DISCLOSURES

Until 1 April 2021 the company acted as a management agent for Coxeters Limited. Mr RAS Wood and Mr PBJ Barrett are both directors and shareholders of Coxeters Limited

At the balance sheet date Trade Debtors included £231,407 (2023: £237,807) in respect of these transactions.