REGISTERED NUMBER: 08772705 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

FEATHERS MOTOR SPORT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S Rose

Mrs K M Rose

REGISTERED OFFICE:

Hartfield Place

40-44 High Street

Northwood

Middlesex

HA6 1BN

REGISTERED NUMBER:

08772705 (England and Wales)

ACCOUNTANTS:

Robert Clow & Co

Chartered Accountants

Hartfield Place

40 - 44 High Street

Northwood

Middlesex

HA6 1BN

FIXED ASSETS

Tangible assets

4

555,704

537,683

Investments

5

443,230

443,230

998,934

980,913

CURRENT ASSETS

Debtors

6

50,500

1,241

Cash at bank

7,018

18,824

57,518

20,065

CREDITORS

Amounts falling due within one year

7

40,101

39,999

NET CURRENT ASSETS/(LIABILITIES)

17,417

(19,934

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,016,351

960,979

CREDITORS

Amounts falling due after more than one year

8

2,272,479

2,219,837

NET LIABILITIES

(1,256,128

)

(1,258,858

)

CAPITAL AND RESERVES

Called up share capital

201

201

Retained earnings

(1,256,329

)

(1,259,059

)

SHAREHOLDERS' FUNDS

(1,256,128

)

(1,258,858

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by:

Mr S Rose - Director

1.	STATUTORY INFORMATION

Feathers Motor Sport Ltd 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.

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.

Turnover

Turnover represents the invoice value of services provided.

Tangible fixed assets

The vehicles comprising tangible fixed assets are maintained to a racing standard. To depreciate them at any particular rate would therefore not be appropriate. Therefore there has been no depreciation charge.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2023

552,851

Additions

29,396

At 31 October 2024

582,247

DEPRECIATION

At 1 November 2023

15,168

Charge for year

11,375

At 31 October 2024

26,543

NET BOOK VALUE

At 31 October 2024

555,704

At 31 October 2023

537,683

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2023

and 31 October 2024

443,230

NET BOOK VALUE

At 31 October 2024

443,230

At 31 October 2023

443,230

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Other debtors

50,500

1,241

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Other creditors

40,101

39,999

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.24

31.10.23

£

£

Other creditors

2,272,479

2,219,837

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.24

31.10.23

£

£

Other loans

138,141

177,333

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors is £2,172,338 (2023: £2,080,504) due to the directors.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr S Rose.