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REGISTERED NUMBER: 07455502 (England and Wales)








Unaudited Financial Statements

For The Year Ended 31 December 2024

for

J D Racing Limited

J D Racing Limited (Registered number: 07455502)






Contents of the Financial Statements
For The Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


J D Racing Limited (Registered number: 07455502)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 15,000 17,500
Tangible assets 5 92,814 113,990
107,814 131,490

CURRENT ASSETS
Stocks 1,489,066 1,419,531
Debtors 6 24,878 26,347
Cash at bank 115,372 87,236
1,629,316 1,533,114
CREDITORS
Amounts falling due within one year 7 1,397,641 1,314,828
NET CURRENT ASSETS 231,675 218,286
TOTAL ASSETS LESS CURRENT
LIABILITIES

339,489

349,776

PROVISIONS FOR LIABILITIES 14,332 17,507
NET ASSETS 325,157 332,269

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 325,156 332,268
SHAREHOLDERS' FUNDS 325,157 332,269

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

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





Mrs T Deacon - Director


J D Racing Limited (Registered number: 07455502)

Notes to the Financial Statements
For The Year Ended 31 December 2024

1. STATUTORY INFORMATION

J D Racing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07455502

Registered office: Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

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.

Turnover represents sales net of VAT and discount and is recognised on transfer of goods to customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 15 years
Plant and machinery etc - 25% on reducing balance and 25% on cost

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 Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

J D Racing Limited (Registered number: 07455502)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 50,000 3,000 53,000
AMORTISATION
At 1 January 2024 32,500 3,000 35,500
Charge for year 2,500 - 2,500
At 31 December 2024 35,000 3,000 38,000
NET BOOK VALUE
At 31 December 2024 15,000 - 15,000
At 31 December 2023 17,500 - 17,500

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 42,651 161,593 204,244
Additions - 3,811 3,811
At 31 December 2024 42,651 165,404 208,055
DEPRECIATION
At 1 January 2024 12,925 77,329 90,254
Charge for year 2,843 22,144 24,987
At 31 December 2024 15,768 99,473 115,241
NET BOOK VALUE
At 31 December 2024 26,883 65,931 92,814
At 31 December 2023 29,726 84,264 113,990

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 10,696 6,787
Other debtors 14,182 19,560
24,878 26,347

J D Racing Limited (Registered number: 07455502)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts - 24,077
Trade creditors 1,213,624 1,204,919
Taxation and social security 44,552 7,959
Other creditors 139,465 77,873
1,397,641 1,314,828

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 9,834 9,610

9. SECURED DEBTS

The bank overdraft is secured by fixed and floating charges over the company's assets.

The creditor balances owing to KTM Sportmotorcycles AG are secured by a £60,000 guarantee held in cash at bank at the year end.

The creditor balances owing to Gas Gas are secured by a £25,000 guarantee held in cash at bank at the year end.