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Registered number: 06409925










DARYL JACOB RACING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
DARYL JACOB RACING LIMITED
REGISTERED NUMBER: 06409925

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
65,759
53,848

  
65,759
53,848

Current assets
  

Debtors: amounts falling due within one year
 6 
167,295
76,273

Current asset investments
 7 
-
61,479

Cash at bank and in hand
 8 
53,723
36,874

  
221,018
174,626

Creditors: amounts falling due within one year
 9 
(88,108)
(55,626)

Net current assets
  
 
 
132,910
 
 
119,000

Total assets less current liabilities
  
198,669
172,848

  

Net assets
  
198,669
172,848


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
198,569
172,748

  
198,669
172,848


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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 statement of income and retained earnings 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 27 March 2025.




Page 1

 
DARYL JACOB RACING LIMITED
REGISTERED NUMBER: 06409925
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

Daryl Jacob
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
DARYL JACOB RACING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Daryl Jacob Racing Limited is a private company, limited by shares, domiciled in England and Wales. Its
registered office is 2 Michaels Court, Hanney Road, Southmoor, Oxon, OX13 5HR.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

 
2.4

Taxation

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 balance sheet date in the countries where the Company operates and generates income.


Page 3

 
DARYL JACOB RACING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the Year was 2 (2023 - 2).

Page 4

 
DARYL JACOB RACING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
8,000



At 31 March 2024

8,000



Amortisation


At 1 April 2023
8,000



At 31 March 2024

8,000



Net book value



At 31 March 2024
-



At 31 March 2023
-




5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 April 2023
53,848


Additions
11,911



At 31 March 2024
65,759





6.


Debtors

2024
2023
£
£


Trade debtors
352
2,472

Other debtors
166,943
73,801
Page 5

 
DARYL JACOB RACING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.Debtors (continued)


167,295
76,273


Included within other debtors due within one year is a loan to Daryl Jacob, a director, amounting to £152,000 (2023 - £59000). Interest was charged at 2.25%.




7.


Current asset investments

2024
2023
£
£

Listed investments
-
61,479

-
61,479



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
53,723
36,874

53,723
36,874



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
60,241
29,426

Other creditors
24,667
23,000

Accruals and deferred income
3,200
3,200

88,108
55,626


 
Page 6