Ben Clarke Racing Limited 12661364 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is racehorse activites. Digita Accounts Production Advanced 6.30.9574.0 true true 12661364 2023-06-01 2024-05-31 12661364 2024-05-31 12661364 core:RetainedEarningsAccumulatedLosses 2024-05-31 12661364 core:ShareCapital 2024-05-31 12661364 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 12661364 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 12661364 bus:SmallEntities 2023-06-01 2024-05-31 12661364 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 12661364 bus:FullAccounts 2023-06-01 2024-05-31 12661364 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 12661364 bus:RegisteredOffice 2023-06-01 2024-05-31 12661364 bus:Director1 2023-06-01 2024-05-31 12661364 bus:Director2 2023-06-01 2024-05-31 12661364 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12661364 core:LandBuildings 2023-06-01 2024-05-31 12661364 core:OfficeEquipment 2023-06-01 2024-05-31 12661364 core:PlantMachinery 2023-06-01 2024-05-31 12661364 countries:EnglandWales 2023-06-01 2024-05-31 12661364 2023-05-31 12661364 2022-06-01 2023-05-31 12661364 2023-05-31 12661364 core:RetainedEarningsAccumulatedLosses 2023-05-31 12661364 core:ShareCapital 2023-05-31 12661364 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 12661364 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 12661364

Ben Clarke Racing Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

Ben Clarke Racing Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 4

 

Ben Clarke Racing Limited

(Registration number: 12661364)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

62,142

58,539

Current assets

 

Stocks

15,000

2,500

Debtors

53,548

66,719

 

68,548

69,219

Creditors: Amounts falling due within one year

5

(156,077)

(137,218)

Net current liabilities

 

(87,529)

(67,999)

Total assets less current liabilities

 

(25,387)

(9,460)

Creditors: Amounts falling due after more than one year

6

(18,630)

(28,350)

Net liabilities

 

(44,017)

(37,810)

Capital and reserves

 

Called up share capital

3

3

Profit and loss account

(44,020)

(37,813)

Total equity

 

(44,017)

(37,810)

 

Ben Clarke Racing Limited

(Registration number: 12661364)
Abridged Balance Sheet as at 31 May 2024

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 

Mr R I Clarke

Director

Mr H A L Paterson

Director

 

Ben Clarke Racing Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Littlewindsor Farm
Littlewindsor
Beaminster
Dorset
DT8 3QU

These financial statements were authorised for issue by the Board on 26 February 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors will support the company for the forseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

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

The current 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 operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Ben Clarke Racing Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

10% straight line basis

Office equipment

33% on the reducing balance

Plant and machinery

25% on the reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 5).

4

Tangible assets

Total
£

Cost or valuation

At 1 June 2023

98,219

Additions

19,909

At 31 May 2024

118,128

Depreciation

At 1 June 2023

39,679

Charge for the year

16,307

At 31 May 2024

55,986

Carrying amount

At 31 May 2024

62,142

At 31 May 2023

58,539

5

Creditors: amounts falling due within one year

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £9,720 (2023 - £9,720).

6

Creditors: amounts falling due after more than one year

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £18,630 (2023 - £28,350).