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REGISTERED NUMBER: 05343964 (England and Wales)















RACE 500 LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






RACE 500 LIMITED (REGISTERED NUMBER: 05343964)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RACE 500 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: S J Lacey
Mrs E C Lacey
Miss I R Lacey
Miss C J Lacey





SECRETARY: B J Addison





REGISTERED OFFICE: Unit 12B Severn Bridge Industrial Estate
Symondscliffe Way
Caldicot
Monmouthshire
NP26 5PW





REGISTERED NUMBER: 05343964 (England and Wales)





AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

RACE 500 LIMITED (REGISTERED NUMBER: 05343964)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 3,630,000 3,630,000

CREDITORS
Amounts falling due within one year 5 2,056,535 2,056,535
NET CURRENT LIABILITIES (2,056,535 ) (2,056,535 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,573,465 1,573,465

CAPITAL AND RESERVES
Called up share capital 6 509 509
Share premium 6,999,493 6,999,493
Retained earnings (5,426,537 ) (5,426,537 )
SHAREHOLDERS' FUNDS 1,573,465 1,573,465

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 March 2025 and were signed on its behalf by:





S J Lacey - Director


RACE 500 LIMITED (REGISTERED NUMBER: 05343964)

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

1. STATUTORY INFORMATION

Race 500 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 3,630,000
NET BOOK VALUE
At 30 June 2024 3,630,000
At 30 June 2023 3,630,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 2,056,535 2,056,535

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
501 Ordinary A £1 501 501
7 Ordinary B £1 7 7
136 'Preferred' Ordinary £1 1 1
509 509

RACE 500 LIMITED (REGISTERED NUMBER: 05343964)

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

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hassan Behcet (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

8. ULTIMATE CONTROLLING PARTY

The controlling party is S J Lacey.