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REGISTERED NUMBER: 02092487 (England and Wales)















Financial Statements for the Year Ended 31 January 2025

for

Race Engine Component Limited

Race Engine Component Limited (Registered number: 02092487)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Race Engine Component Limited

Company Information
for the Year Ended 31 January 2025







DIRECTOR: J P Ivey





SECRETARY: Mrs A E Ivey





REGISTERED OFFICE: Kingswood Farm
Kingswood Road
Kingswood, Albrighton
Wolverhampton
West Midlands
WV7 3AQ





REGISTERED NUMBER: 02092487 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Race Engine Component Limited (Registered number: 02092487)

Balance Sheet
31 January 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 6,536 7,548

CURRENT ASSETS
Stocks 45,000 45,000
Debtors 5 235,710 233,392
Cash at bank 819,947 788,947
1,100,657 1,067,339
CREDITORS
Amounts falling due within one year 6 108,286 115,222
NET CURRENT ASSETS 992,371 952,117
TOTAL ASSETS LESS CURRENT
LIABILITIES

998,907

959,665

PROVISIONS FOR LIABILITIES 1,634 -
NET ASSETS 997,273 959,665

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 997,271 959,663
SHAREHOLDERS' FUNDS 997,273 959,665

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Race Engine Component Limited (Registered number: 02092487)

Balance Sheet - continued
31 January 2025


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 has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 April 2025 and were signed by:





J P Ivey - Director


Race Engine Component Limited (Registered number: 02092487)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Race Engine Component 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

Race Engine Component Limited (Registered number: 02092487)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2024 84,785 - 84,785
Additions - 167 167
At 31 January 2025 84,785 167 84,952
DEPRECIATION
At 1 February 2024 77,237 - 77,237
Charge for year 1,154 25 1,179
At 31 January 2025 78,391 25 78,416
NET BOOK VALUE
At 31 January 2025 6,394 142 6,536
At 31 January 2024 7,548 - 7,548

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 10,751 27,650
Amounts owed by associates 204,959 205,742
Other debtors 20,000 -
235,710 233,392

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 50,646 69,703
Amounts owed to associates 14,617 29,870
Taxation and social security 15,536 4,608
Other creditors 27,487 11,041
108,286 115,222

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
2 Ordinary £1 2 2